"Cashtration" definition

[igi]

I'm a new member as of today and since reiclub.com has given me so much in the last year, I thought the least I could do is provide you this new word for your REI vocabulary.

Directly from the Washington Post's Mensa Invitational,

4. Cashtration (n.): The act of buying a house, which renders the subject financially impotent for an indefinite period.

I would like to personally thank everyone who provides their experience and knowledge to this forum day after day, especially the Heavy Hitters! Through this site, I was able to find all of the right contacts in order to get me through my first RE investment. A duplex in TX with positive cash flow. Only 150$ per month, but I think that's okay for my first deal. I look forward to REI all of my life, the good and the bad. I wish all of you the best outcome with your calculated risks. I look forward to give back as much as I have received from the reiclub.com community - more, if possible.

[JeffInCT]

Positive cash flow is positive cash flow. I say do it 10 times more and you start a decent income stream.

Good luck

[tedjr]

Howdy IGI:

Congratulations

I like the cheaper duplexes. I bought one for $12900 that I am fixing on with a budget of $7K. It will rent for $600 when repaired and my 12% interest payments are $211. Insurance is $20 per month and taxes about $50 giving me a little cash flow for the trouble. Maintenance should be low too and I will be hiring a manager when complete. I did a house too with almost the same numbers and am looking for a lot more.

[Bluemoon06]

Great job Jesse!  I hope the new property did not cashtrate you.