Today’s episode was a recent client call recording. Ashley, who’s working with one of our Investment Counselors, requested a live “Ask Marco” answer to her big question below.
So she writes in and says, “Hi Marco. A big question for you. I’m at the point in my investing where I’m ready to cash out, refinance my primary residence here in Massachusetts that will Net me about $700,000 in proceeds and I really want to move that “dead equity” into real estate. My goal is cash flow to help cover our larger primary mortgage and also get me closer to leaving my six-figure W2 job. So the big question, what would you do with $700,000 to invest to maximize cash flow?“
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Then she’s got some sub-questions here or comments. The first bullet being, I don’t think I’m ready to jump into apartment complexes yet. The thought of buying seven $100,000 single-family residentials outright without financing sounds like the quickest path to cash flow, but I would miss out on the power of leverage. Perhaps it’s 14 $100,000 single-family residential homes that are 50% financed.
Third bullet. Any other suggestions for me. All is looking good to close on the two Pennsylvania properties next week. This is outside of the $700,000. Thanks for the suggestion to look at Pennsylvania. They’ve been so great to work with as you said, they would be and she’s referring to the provider team that we work without there. And she finally concludes by saying happy to jump on the phone if you have time to talk this big question through appreciated Ashley. All right. When we jumped on the phone call and just before I started recording the call, she was basically saying that she’s been listening to the podcast now for a few months. She loves it. She was, uh, just essentially saying thank you for putting out such great content. And then she was starting to go into her story and that’s when I remember to click the record button. Uh, so I have talked to her after the recording and she has given me her permission to edit and publish the content as a podcast episode. So here is the call with Ashley.
Well, as quit my day job and just be more available for them and do real estate full time.
Yeah. Well awesome. Well, um, first of all, just real quick, I just want to say thanks for your comments. I’m glad you liked the show and I’m happy to hear that you’ve been listening to all the episodes you’ve downloaded all of them. I need to make some things and make some changes on a few of the earlier episodes, but no big deal. Just one, one of them I want to take down. Yeah. So, no, I’m, I’m glad you’re getting a lot from it and I’m glad you read rich dad, poor dad, that that was a game-changing book for me too, even though I was already all-in into real estate and just changed the way I thought about certain things. And so yeah, that’s kind of a foundational book. Um, you know, now I’ve just literally, I’ve got 2000 books and of course I didn’t read all of them, but you know, they just look good on my bookshelf. Yeah. Um, but yeah, so that equity that you are talking about, is that in your principal residence? Was that a second home? Cause I didn’t catch that.
It’s in our primary, so I, I do have a second home that I just finished, um, two months ago refinancing that as well and pulled all that cash out and amusing that to buy two Pennsylvania properties through you guys. So this, this 700 is purely our, our primary residence.
So you already know what you’re doing with the investible cash that you have on the side that is not in the form of equity. Right? Right. Yep. Okay. Now when you say 700,000 in equity, is that like total equity or is that what you’ve earmarked as investible equity that can be pulled out or refinanced out?
That’s the investible. So, um, once I leave 25% in for loan requirements and then pay off our current, so our current is 175,000 and our house is worth about 1.3.
Okay. Have you gone down the road or talk to a lender or mortgage broker about the refinance?
I have. I’ve talked with my local credit union here. I’m, Melissa gave me the great advice a couple, couple months ago. Um, because you guys don’t, I, she had originally put me in touch with Aaron Chapman who he’s awesome and he’s, he’s done all my loans that I’ve done with you guys. Um, but he can’t do Massachusetts. So I’ve been in touch with local credit union who Melissa said they have really great rates and I’ve got a woman there who she’s already offered me around 3.15% on a jumbo for this. Oh,
I know. I was just going to make the comment that your timing is pretty interesting with everything going on right now because rates have, I mean rates have been at, at historic lows for a long time, but they are exceptionally low right now. Like when you can get a loan around 3% believable, that’s, that really is below the rate of inflation. It feels like free money almost. It is free money. It is free money. That’s the point. So now is that on a 30 year fixed just out of curiosity?
Yes. 30 year fixed. We are on a, we’re about four and a half years into it.
Okay. Oh, you’ve already refinanced it.
No, I ha, I apologize. My original loan, we bought the place, we built it about four years ago, but the refi yet would be a 30 year fixed.
You know, a lot of real estate investing is about math. You know, it’s really just objective data, objective facts, objective analysis, and running math. Very little of it is actually emotionally based. So when you’re looking at refinancing and pulling that out, now you’ve got that equity, you’ve turned into investible cash. That cash can generate cashflow for you from whatever investment you put it in, whether it’s real estate or a business or something. I’m working on Broadway musicals, whatever it may be. When you can generate income from it, if that income you generate from it is higher than the cost of that money, in this case, the refinance, you know, whatever you’re paying on the new loan, then you’ve created positive cash flow for yourself. However you look at it, it’s a positive step forward. So what you’re doing, and I think based on me listening to you, you already have figured this out.
You’re essentially just taking out that dormant idle equity and moving it. You’re not spending it, you’re moving it into income-producing assets that generate cash flow. So the bottom line or the point is, is that if the cash flow you’re generating is greater than the cost of the money that you’re now paying because of the refinance at 3.1% then you’ve triaged that equity, you’ve moved it, probably put it into a safer place maybe. But even if you haven’t, the point is you’ve turned it into an asset that can create additional equity over the years to come. Plus the cash flow that you get from it each and every year. Yeah, a smart way to create wealth, a smart way to grow your passive income and a fast track way to create that financial independence or financial freedom that you’re working towards.
Yes, exactly. That’s what I’m looking to do. And once I explained all that to my husband and he saw it, cause like I said earlier, he was a little bit scared of leverage and is very comfortable with this. Um, one point $3 million house in our $175,000 mortgage payment or balanced. But once I explained like yes, our monthly payment will go up pretty pretty largely but once reinvest this I think we’ll actually come ahead and somebody else will be paying our mortgage for us. Um, whether it’s a, you know, a renter or however the cashflow comes in, we essentially aren’t paying our mortgage anymore. Something and an investment is and then we are that much closer to financial freedom. Yeah,
yeah. That and that’s the math part of it. It’s, it’s when you just sit down and you run the numbers, you know, you have to make a few assumptions here of course, because you haven’t actually acquired those new rental properties, but you do have certain facts in place. You already know exactly to the penny what you’re going to pay more on the refinance on that loan because you have the rate, the term and the dollar amount. And so now you just have to start looking at properties in whatever markets those are in and in whatever neighborhoods those are in that meet your investment criteria. Uh, you know, to accomplish that. Yeah. And, and you know what, like I, I’m not saying you should be doing this, but hypothetically speaking, let’s just say that you’re no further ahead or behind, let’s just say it’s a wash. whatever your monthly increase is on your mortgage, which by the way, the interest is you, I’m sure you know, is tax deductible or at least it’s still still should be where you live.
Yes. Yep. Yeah. So, okay, so you’ve got this, there is no tax on, on, on the, on the cashout refi because there is no tax on, on debt. So you’re pulling out that equity tax-free. You have this tax deduction from the, the mortgage interest on your principal residence and now you’re taking that equity and you’re investing it into assets that generate income, that are also tax favor, heavily tax favor because you have the depreciation. So it’s really a win across the board. But hypothetically speaking, let’s just say it’s a wash and you’re no further ahead, cashflow wise. Um, whatever, you know, the cash flow is on the rental properties. Net net net is exactly what you’re paying every month or every year on, you know, the uh, the, the new mortgage on your property. What you still have going on for you are the depreciation, uh, the depreciation write-offs, tax write-offs from the properties.
You have equity growth from the amortization of the loan. Um, over time. Yeah. And if you have appreciation, which over time you will, but if you have, if, and when you have that appreciation, you have that equity growth as well. So, even if you don’t have a rate of return from the cash flows, because it’s a wash at zero, you’re still going to have a rate of return from the equity growth that happens, you know, after year one, two, three, four, five and so on. And even if we have the short term pullback, let’s just say, you know, we go to hell in a hand basket here over the next year or two, right? As long as you’ve got, as long as you’re in good neighborhoods where you have a good demographic base, like you know, you’re always gonna have a tenant pool to draw from, which is pretty typical when you’re in, you know, be in a class neighborhoods, um, you know, you’re going to weather through these, you know, whether it’s a recession or a local, a local real estate market cycle, like a down cycle.
You’ll, whether through, because you know, changes in property value or just paper numbers there, they’re not realized, they’re just on paper. Yep. So when you come out of it often you come out of it stronger as we have, as we’ve seen in, in all the recessions in the last 100 years. You know, we always come out, you know, bigger and stronger on the other side. So anyway, I don’t know why I’m telling you all this, but really it’s just, you know, a very smart and strategic move what you’re doing, especially with the cost of money today being so cheap.
Yeah. So you, you feel or agree that take the 700, um, and redeploy it into more. So I’ve been going down the single-family route with you guys and just, I don’t know if it, if it would be, um, how many that could get me, but off the top of my head, I was also thinking with inventory being a little bit challenging, what if I just outright purchase without any mortgages, you know, $700,000 units and then I’d have even more cash flow, but then I’m missing out on the leverage piece of it.
Yeah, you’re, you’re exactly right. So, um, my knee jerk answer to that is to take advantage of the cheap money that’s available for mortgage financing one for, for a couple of reasons. One, it’s, it’s super cheap money. I mean it’s historically low. Okay, so it’s virtually free. Number two, you’re going to be in a much better place five, 10 years from now having a larger portfolio because the equity gains are going to be not across seven $100,000 properties. It’s going to be a cross, let’s say 20 or more a hundred thousand dollars properties, right? So if you have a very marginal gain in appreciation, uh, over time, like you know, you might have some negative years, but let’s just say it averages out to a nominal 3% per year, which I know, yeah, historically speaking, it sounds pretty small right now, but let’s just say you have that 3% gain on seven $100,000 properties. Well, you know, that adds up. But what if you have that 3% gain
on average per year across 20 properties because you apply, you know, 70% financing, you know, your down payments can be as little as 20% but, but just factor, just budget or plan for a 25% down payment. Okay. Regardless of whether it’s 2025 or 30 the point is, is instead of seven properties at 100,000, let’s just say it’s 20 properties at 100,000. Um, so that 3% gain now is almost three times as much, right? So you have that three times the amount of equity gain, three times the net worth three times the potential equity you can tap into again in five or 10 years to do this again, where you refinance, pull some equity out and you build a real estate portfolio even faster. It’s kind of like a mushroom effect where you go from one to three, three to nine, nine to 18 or whatever it is. And then the other thing too with that is, um, it sounds like you’re pretty, you sound pretty young, so
thank you. I get that. But I’m not, I’m, I’m 40 or I’ll be 40 in a couple months. But thank you.
That’s, that’s young. So, um, you know, like what’s the saying like, uh, the 60s, the new 40 or,
yeah,
but the thing is if you and your husband are in, in acquisition mode right now, you’re in growth mode. You know, you’re not focused on the cash flow because you don’t need the cash flow today. You’ve gotten jobs and you know, you’re okay income-wise, then you should be focused on, on growing your portfolio as much as you can, whatever your goals are, but also focused somewhat on price growth as well. Because what you want to do is you want to grow your portfolio. You want to grow it as big and as fast as you can to whatever your goal is. But at the same time, you also want to take advantage, uh, not be hyperfocused on cashflow, but also be focused and, um,
mindful of how much appreciation you can gain over the next, let’s say 10 to 20 years because you’re still young enough that you don’t need that cash flow today. But when you, when you can focus on having the cash flow and the equity growth, like the appreciation and you know, whether it’s in three, five, seven or 10 years from now, when you look back and say, Holy crap, you know what, I picked some good markets and good properties. Now I have a bunch of equity I’m sitting on, well guess what? Your net worth is going to show that and now you have that option again to be able to do that with that, uh, that new-found equity in these other properties to do what you’re doing today with your principal residence.
Yeah, that makes sense. That makes sense. I hadn’t even thought about going into some of those more appreciation growth markets.
Yeah. And it doesn’t have to be all one or all the other. I think people who are very growth-oriented will be, um, less concerned about the monthly and annual cash flow today because they know that they’re in a very strong market with lots of growth. And the expectation is that the population will continue to grow and that will push prices up. And so they’re there, they’re basically in the path of progress and they’re chasing after that appreciation, not as speculators, but as intelligent investors. You still want the cash flow because you remember you, I’m sure you’ve heard me say your cashflow is the glue that holds your deal together. Yes. Yup. Okay. So you want that cashflow to keep your deal together, but you, but you position yourself where you’re going to strategically, uh, take advantage of price growth, right? There’s no guarantee. I don’t have a crystal ball, but you know, if you play your cards right, you stack the odds in your favor that you’re going to take advantage of that equity growth. And so if you do that, the equity will happen and you will now be equity rich and cash flow rich and now you can leverage that equity into repositioning your portfolio where you have the equity to redeploy into more property and increase your cashflow. You’re repositioning and rebalancing your portfolio. So now you’re more focused on cashflow than you are focused on the appreciation or the potential appreciation of those markets going forward.
Got it. That makes sense. That makes sense. I like that. Okay, that’s helpful. Yeah. Where my head is at now, maybe I spread it out a little bit across cashflow and then across the gross markets that you guys are in. Okay. What is, um, I was poking around on your website, which redesign looks really great by the way. Nice job on that. Um, what is this private lending program that you guys have? I saw a section for that on there,
so I’ll tell you what it was.
Okay.
Um, so w so a little bit of a tangent, but um, I’m happy to talk about this. Uh, in fact I’m happy to talk about anything you want to talk about. Um, so for, for a number of years, uh, it was actually over three years, more closer to four, I was offering investors the opportunity to invest in first and second position notes on properties that we were acquiring and renovating to either flip or to resell as turnkey rentals. So it was a separate business, uh, assists a sister company, if you will, um, acting as one of our property providers. And so we were buying, fixing and reselling properties. Some of them are rentals, some of them just retail flips. I got tired of doing that and I stopped doing that number. Hearing you say you got out of the flip business? Yeah, I really don’t like it. It’s a lot of brain damage.
It takes up a lot of my time. It’s tiring and I, I just don’t want to be doing that anymore. And so I’m unwinding that business. But, um, I keep getting asked from people about it. Uh, I probably get one inquiry a week that morphed into a third thing, which is something that you may have seen in the newsletters. I don’t talk about it too much, but I’ve always had an interest in theater, especially musicals and um, and Broadway. And so, um, my partner, he’s producing seven new Broadway musicals. Two of them are very significant. Uh, one is based on the 1983 movie vacation with Chevy chase. So we’re turning that into Broadway vacation, which is done. It’s in the can, it’s done and ready to go. So we’re now just at the fundraising stage where we bring investors in and then we will launch that in Seattle and then bring it to Broadway.
Um, and then we have another one with Neil diamond and it’s about the, and use it of Neil diamond. And that one is also done, but it’s unnamed at this point. We’ve did a personal reading for Neil diamond in New York, uh, last month and I love it. So those are two of the seven productions that we were doing right now. And so this is open to investors. Anybody who is interested. Um, we’ve created what’s kind of unique in New York or on, at least on Broadway and we’ve created a fund like a mutual fund. So when you invest, you’re actually investing in all seven, just one. So that diversifies the quote unquote risk cause it is a riskier investment. But when you hit the hits like Hamilton or wicked, I mean that is astronomical. Like that just pays dividends like crazy.
Oh, I bet. I bet. What’s the timing of all of those? Hopefully a little ways away given everything going on right now.
Yeah, I haven’t talked to Ken about the whole thing about the media and how that’s impacting stuff, but um, we’re really just taking expressions of interest this month and we’re probably not going to start taking investment capital until next month even though it’s still open. But we already have the theaters locked down like Broadway vacation. We’ll launch in October and one of the prestigious theaters in the country, which is the theater in Seattle. And then from there we’ll run it for a few months or four months and then bring it to Broadway.
That is so great. My, my niece actually works on Broadway. She’s um, assistant, I’m looking at her LinkedIn title right now cause I didn’t know it off the top of my head, but she’s assistant to the president and CEO at the New York city center. Yeah, she works right on Broadway. And um, I have yet to make it down there to see her yet, but she loves it, loves that, loves the atmosphere, loves all the shows, loves everything. Yeah.
Oh, it’s, it’s a hell of a lot of fun. It’s nothing but fun. Every time I go to New York, I’ll always catch two shows and I’ve probably seen seven in the last three months. Oh, that’s awesome. So cool. Yeah. Cool. Cool.
I’d definitely be interested in hearing more about that. Or, um, I think you mentioned for another month or so, you’re gauging interests. So, um, are there any minimums for it?
The, the unit is, they price it at a hundred K but they’re always split into quarters or halves. So when someone asks me what the minimum is, I always answer, well, it’s like, it’s either 25,000 or 50,000, which is very, very typical even for real estate syndications, like apartment complexes and stuff. Um, so that’s the short answer. The, the technical answer is that a unit one full unit is 100,000, but the producers always split that into halves. Recorders. Okay.
Okay. Well that could be a spot for some of the 700,000 diversity stuff.
But what’s interesting about Broadway and investments, you know, in theater like movies, but actual productions like plays and musicals, this is something that’s kind of interesting, um, is the investors are actually paid back first. They get, the producers don’t make a single dime of profit until the investors that are actually paid their principal back. Yeah. And then after the investors are made whole, that’s when the profit is split 50, 50, between the producers and the investors. Uh, and sometimes the investors actually get paid more than 50% because there’s a piece that’s split off the producers 50% that goes back to the investors. It just depends on the production. So when it’s lucrative, it’s very lucrative. Um, but Ken’s success rate is actually 40%, not the 20%, which is average for the industry.
Wow. That’s pretty solid. Yeah, much better. Oh, awesome.
Yeah. I can send you just a short email. I mean, I don’t have like, you know, like a fancy slide deck or, or, you know, offering memorandum or anything like that. I can send you some links and some stuff about Ken and, uh, the productions. And, uh, you know, just to give you a taste of it and then something that you’re interested in, we can, you know, talk further about it. Yeah,
that sounds good. All right, well I thank you so much for your time. I imagine you probably have jumped from calls call every half hour, so I apologize if I’ve made you
no, you’re fine. Do you have any other questions? I, I, I’m, I’m, I’m good for time cause I don’t have any more calls for today. I was planning to do a record, uh, you know, a, an episode or something. But yeah, I mean I’m, I’m good if you have another question.
I think, um, I don’t any any have any others off the top of my head. You kinda gave me good things to think about with that 700 and, and uh, probably tomorrow or Friday I’ll start the refinance process. So, um, you know, I, I would say within 30 to 45 days I’ll have that money actually in my account ready to go, have some fun with. Um, the only other thing I do have that maybe, um, it’s worth bringing up is we do have a home equity line of credit on our house, which I imagine when I refinanced that goes away and the home equity line of credits for 699,000, um, it’s a, it’s a normal 10 year interest only he lock. And so part of me is like, well should I refinance or should I just use my hilar? But at this point I’ve kind of feel like refinancing is the better direction to head in.
Well I remember I keep saying [inaudible] lot, a lot of the decision making here is about math. So what are the terms on the hilar
it’s the 10 year interest only. And right now I haven’t checked the interest rate in a a month or so. But last I looked it was around 5%. I imagine now it might be closer to like four and a quarter. So math wise, yeah, it interest rate wise, it just doesn’t make sense. Especially term as well.
What I suggest you do is calculate what the monthly mortgage payment is on the increase on the refi, right. Whatever that difference is. And then just realize that’s principle and interests. Okay. So you’re, you’re actually amortizing your loan on your principle residence. Um, and compare that to the interest only payment from your Wheelock. Okay. The four point something percent.
Yeah, that’s a good point.
And you’re going to find they might be the same but you might find one is less than the other. And my feeling is this, if the monthly increase in that mortgage payment is less on the 30 year refi, then that is the better option because not only is the monthly payment lasts, but you’re amortizing the loan [inaudible] the interest is still just as deductible regardless of whether it’s the he lock or the refi.
Yeah. And the 30 year would be fixed as well as well, whereas the Hilo could rise and fall.
Yeah. Right. If your monthly mortgage payment difference is less on the he lock than the 30 year refi at 3.1% then it probably isn’t that much of a difference. So unless it’s a significant difference, like significant enough difference where it means something to you, then um, then that’s the only time to really consider the hilar. But if you do do the refi, yeah, you’re going to lose the hilar because the hilar would be a second loan and a second lien on the property and the refi will obviously remove that equity that yeah. Using for that he locks. So you’re replacing it is what you’re doing. Okay. That makes sense. You’re turning it from a line of credit to alone.
Okay. That makes sense. All right. Um, well goodness, since you’re giving me time and free for all to bombard you with questions, I do have one more if you have time. Um, so following your, one of your more recent podcasts about, um, how to protect your investments, I did actually have a call yesterday, a very nice woman. She already pulled together a plan for me. And, um, I, I guess my big question here is, so two things. I know I need to make some moves to protect everything that I’ve built up so far and to keep marching along. Um, but at what point is it overkill? So she has are her recommendation is to start with the Wyoming holding LLC is our parent company. Um, and then set up a C Corp for our vacation rental, which is here in Massachusetts and then individual LLCs for all of the other properties that I have through you guys. Um, and just talked about signing up for like their titanium VIP unlimited package. And, um, so I’m just wondering what point is it overkill that I have structured so many LLCs and parallel CS and C corpse and she talked about one day maybe involving it into an escorp and land trusts, um, verse, just maybe a more team approach.
Okay. Um, it’s, it’s a very good question. It’s potentially a big answer. I will certainly provide you some comment. First and foremost, you know, I’m not an attorney of any kind, so you know, this is, this is just from what I, my own personal experience and what I’ve learned and my own knowledge and my own opinion and comments. Okay. As far as your vacation home. I can’t comment on that because I don’t know enough about it. And your personal situation and what she has in mind with the C Corp, if that’s a source of revenue, I can see where she’s going with the C Corp, you know, to be able to qualify for financing later. I’m using the corporation. But that’s a conversation you need to have with her as far as the holding company being based out of Wyoming or that could also be out of Nevada. Um, but yes, I, I certainly agree with that. That is pretty standard to have a, a holding company, an LLC based in Wyoming where your other entities tie into or flow into.
Yeah, I definitely heard that one before as well. So that one felt right.
Yeah. So that, that’s just another layer of separation and that really, it makes sense for many reasons. You at the end of the day, you don’t, you don’t own or have interest in multiple LLCs. You only have interest in at most one LLC. Okay. So this is where, you know, the whole asset protection strategy starts to come in as far as the LLCs, where you hold property in the title holding LLCs. There’s really two schools of thought there. What Anderson is presenting to you is, um, is probably one of the most buttoned down strategies. Certainly you know, the best overall Bulletproof plan, if you will. Because, and I actually asked Clint this on the podcast interview, if you recall, if you listen to that one I, I asked him, I said, you know, how much is too much? You know, he basically said, look, at the end of the day, the ideal scenario is to have one property per LLC.
Yeah, it’s one more form to file every year for each LLC, but it’s just once a year and it’s one form. So big deal. And yeah, there’s an extra expense for each LLC. But he says, look, you know, if you’re paying like 200 bucks or 300 bucks a year for each LLC, you know, just look at it as cheap form of insurance. It’s just one more form of insurance that you’re, you’re to protect yourself and you’re doing it on a per property basis. I don’t want to say it’s taking it to an extreme, but that is taking it to the um, kind of the best case scenario. Got it. Okay. Yup. The other school of thought is one that I operated with for a long time and that is to have X number of properties per LLC per state. Okay. So if you have let’s say three properties in a particular city, in one state, and you put, you know, those three properties in that one LLC that is also in that same state.
The question there, and I, I’ve asked different asset protection attorneys. The same question is at what point do you decide how many properties you should have an LLC? You know, some people poorly make that decision based on the number of properties, but the better way to make that decision, which is the way I’ve done it, is how much equity do you want in that LLC? So it’s not number of properties, it’s how much total aggregate equity you have that you want on the line or at risk, you know, it was at 50,000, 100,000 in equity. You know, that’s where you have to make a decision. But cleanse argument on that is regardless of whether you have zero equity or 100,000 in equity or anything else for that matter, uh, what you have at risk is not just the equity, whether there is some or not, it’s the number of properties that you have at risk that a judgment could potentially be attached to. So it’s not so much a focus on equity, it’s a focus on, on properties that are potentially exposed to have a judgment attached to. Okay, so you need to make a decision and decide, you know, you and your husband where you feel comfortable with the quote unquote risk or exposure that you have on the properties you have in each market.
Okay. That makes sense. Yeah. My head was starting to say like, all right, if I could dial this back, maybe it is that second approach you were talking about of put a couple properties per city under an LLC. Um, but yeah, I’ll talk it over with. My husband is more [inaudible] and keeps speaking with Michelle to figure it out. It’s something I need to do though cause right now I’m just completely exposed. Um,
well yeah you don’t, you don’t want to hold any assets like that in your name personally.
Yeah, I I do right now since I’ve, um, since September I’ve just been on acquisition phase and, and acquiring so many of these properties. Um, so getting my assets protection plan in places, my, my new number one priority along with refinancing my primary, um, cause yes, right now all of them are under my name only. So it’s a little bit scary.
Yeah. And then what you might want to think about is after you do your refinance on your principal residence, that’s, that’s the time where you can talk to whoever you’re working with on the asset protection side of things to take your principle residence out of your name
and put it into your trust. We have done that. That’s the one smart move we have already made. So my name is not on it, but it is in a trust so far. Yeah. Okay. All right. Well I actually do need to scoot and um, go get my kids. So, um, I will give you some time back, but I, I, I genuinely appreciate you taking the time to speak with me. It’s kind of been a treat. So thank you so much and uh, you’ve been very helpful. And I think what I can do next is I’ll keep Melissa posted. She’s been my go-to, um, to help me find properties through you guys. So I’ll keep her posted on when I free up this money and we’ll keep hunting down some houses.
Well. I appreciate you taking the time to talk to us and your trust in anything we can do to help you. Um huh. You’re to help. All right. Thank you so much and stay safe. Thank you, Ashley. All right, talk to you soon. Thanks. Bye.
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