All Forum Posts by: Account Closed

As @Monique P. says, captions. Label where the bedrooms in the pictures are-in the main house, the back house, upstairs? Can you swim in the pond? Then state it is a private swimming pond. Get a paddle board, floats, etc. 

I’m closing on one right now on an investment property with S&T Bank.

Check them out, maybe they loan where you’re at. 

The property is gutted and they are ok with that. Most banks wanted the property to be in lived in condition.

It is a small bank, and I did have to speak with lots of other banks to find this option.

It’s only costing me $90, and it is giving me the funds I need to finish my project. 

I was considering a commercial loan, but that would have cost at the minimum $5k. 

I'm actually closing on a home equity loan on our primary residence with First National Bank that is impressive at 5.89%, fixed 15 year.  No fees.  Check them out.  

I appreciate this thread because while new here, I have not read how easy it is to be overwhelmed by life’s circumstances that your gutted building stays that way for years.

How timing of buying a rental coincides with your baby needing medical care for a very unknown diagnosis that leads you all over the states seeking a cure. 

I’ve not read how the shame of not being able to care for that baby, and your other immediate family members, AND that empty gutted building, is suffocating, and oftentimes dire. 

I’ve only read that you get ready to buy, you search to buy, you buy, you fix up, you rent out, you sell or keep. In that order, in that rhythm, with that cadence. 

My first experience with real estate investing has been only met with delays for years. Postponement of all kinds, not just the life and death ones. The delays that come from bad work needing to be redone. The delays that come from needing to earn the money to repay to do that work. 

I may be the most unlucky real estate investor here, and yet, I’ve still had to make the mortgage, insurance, and tax payments on a building that has needed to wait until my baby was more living than dying, wait until I caught up with everything else that I had to put aside to tend to that baby. 

@Aaron Schrader thanks so much for sharing your experience.

Was this in a South Dakota house?

If so, did it heat and cool well during the extreme season temperatures?

I have heard they aren’t great for those low, low and high, high temps. 

thank you, 

Frinee

 We are renovating.

@Justin Dziedzic. A long time ago I helped a friend get ready to move into her new former-smoker owned house.  

As we were rolling on the primer with a roller, the nicotine oil was oozing through.  

It was disgusting.  It kinda felt like some weird Twilight Zone thing.  

After doing one wall, we switched to enamel based paint.  The oil in the enamel sealed the oil in the nicotine laden walls maybe?

It worked.  

Hi, you may want to consider the taxes you would pay getting it out of your 401k before you retire.

After you retire you may be in a different tax bracket and that alone would reduce the taxes you have to pay to take it out of your 401k. 

If the other houses you own have no loans could you stack all their combined monthly rental income to pay off the remaining $120k mortgage before you retire? 

Ok this. 

Whitewash