Listening to a real estate investing podcast on Friday, the guy was talking about novice investors trying to get a real estate investing business off the ground, but they don't know a thing about their own mortgage.
That one was directed right at myself. I have made a few dollars off of my real estate investing, but not nearly enough for me to be able to replace my income. I have seven rentals, and I have no idea how much I owe on each one, what my interest rate are, what my mortgage payments are, or what me rental rates are. I have a property manager that takes care of the rent collection and mortgage payments, which I thought was nice, but I think it is more of a crutch than a help.
I need to get my own 'house' in order before I can expect to make the kind of money I want to make investing in real estate.
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