Previously, we met Peter in Denver who was considering 20% down payments to buy 10 rental properties. He also considered 25% down payments to get a slightly better interest rate and better cash flow. But, another option is for him to Nomad™ with 5% down payments (with Private Mortgage Insurance).
Now, we are comparing which of the three options will get him to financial independence fastest.
Some reminders about Peter's situation in these
- Peter is starting with $25,000 in savings
- He has a good job making about $72,000 per year
- Lives in Denver, CO but would consider living in or around the Denver area
- Currently rents a property for $2,200 per month
- When he Nomads™ he will buy a property and NOT pay the $2,200 per month in rent… instead he will pay all the expenses of the property.
- He is saving about $1,000 per month with the intention of buying rental properties (like the property he is currently renting)
- He plans to put 5% down when he buys his rental properties as a Nomad™ as soon as he's saved up enough for a down payment and at least $5,000 in reserves (adjusted for inflation)
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Peter from Denver Buys 10 20% Down Payment Rentals with 2 Accounts, 1 Property, 3 Rules, 1 GoalCopy Scenario into my Real Estate Financial Planner™ Software
Peter Buys 10 25% Down Payment Rentals with 2 Accounts, 1 Property, 3 Rules, 1 GoalCopy Scenario into my Real Estate Financial Planner™ Software
Peter Buys 10 5% Down Payment Nomad™ Rentals with 2 Accounts, 1 Property, 3 Rules, 1 Goal
Or, read a computer-generated narrated version of Peter's