All Forum Posts by: Alex Gunnerson

@David Mirza  the mortgage on a property that is held jointly with a spouse will typically be counted as debt for both individuals. Even though the mortgage may be in only one person's name, both individuals are considered to have an ownership interest in the property and are responsible for the debt.
I would check with the lender to see what documents they need, each lender might have different requirements.

There a lot of different websites that will allow you to pull lists. Batch leads allows you to pull 1,000 during their 7 day free trial to test it out. That will get you addresses and other info about the property but you’ll have to pay if you want them to skip trace to get the numbers. If you don’t want to pay just export the list into excel and start googling addresses and the owners name and you’ll find numbers that way. This can be time consuming and you will get a lot of bad numbers but that’s just part of it. I recommend this approach for people starting off, but as you scale you’ll need to become more efficient, start outsourcing work and implementing systems.

Hi Adam. It sounds like you are taking a lot of the right steps. I would recommend attending local meetups in the area to start building out your network. In my experience, finding a mentor tends stem from shaking enough hands, and then one day you’ll realize you have a mentor. It just sort of happens when you are meeting enough people in the field.

Yes multi family in KC is competitive but there are still plenty of deals being done. Being able to find off market deals is something that will never go out of style. I would start picking up the phone and make some calls. Start super low, like 5 calls a day until it becomes a habit and then scale up. You will get comfortable fast!   Another option is the find an agent who will make those calls for you. Whatever you decide, best of luck.

Hi Alvaro, an experienced real estate attorney is who I would turn to here. Another option, try an investor who has experience doing seller finance deals in your area and have them guide you through the process. If you went with option B you'd obviously have to give them some of the cut, but you would be building a relationship that could pay for it self down the road.

I am not an expert but this is how I understand it.

@Ryan Fox yes you could let the $ grow for as long as you'd like. Many people will pay off their medical expenses by other means, not touching their HSA because they would rather let that HSA money to continue to grow tax free instead of using it to pay expenses.  

Let's say you have had 10k in medical expenses and over time you have paid these expenses and have not used your HSA. 15 years later, assuming you had all of your receipts from the expenses, you could pull that $10k out without having to pay taxes on it.

The book "The Simple Path to Wealth" does a great job of explaining this in depth, although it may be more than what you are looking for since it covers your overall wealth and other financing strategies, not just HSAs.

Hi @Ryan Fox

You can withdraw money without paying taxes as long as you can provide a medical receipt for the amount you are withdrawing

Any additional money > than what you have receipts for can be withdrawn without fees at age 65, however this money will be taxed if you don’t have medical receipts.

Small world @Yitzhak Magoon , I went to Ames middle school. I ended up moving to Carroll IA, went to Iowa State and now I'm in Kansas City! 

I'd echo a lot of what @Nathan Gesner said about doing your homework on Landlord friendly states which is a good way to quickly narrow down your options.

The next thing I would ask is what are your main goals for investing ? Are you in cash-flow building mode, trying to accumulate as much cash-flow as possible to free up your time? Are you more interested in appreciation and less concerned about cash-flow? You're probably already aware but certain areas, like KC, are great for cash flow but most likely won't yield the high appreciation that other markets like Florida or Texas might.

Hi Kevin,

I'll echo a lot of what @Michael Vittorio said. In my experience, most people don't actually find their mentor by searching for them and reaching out asking them to be their mentor. Attend meetups and make relationships. My mentor was also my agent. When I was looking for my first property I looked for an investor friendly agent in my area that was a little ahead of me in his/her investing career. I met him at a meetup. We worked together to buy my first investment property and he became my mentor naturally.

@Axel Meierhoefer personally I am shifting towards more creative financing options like seller financing or buying a home subto the existing mortgage. Still plenty of opportunity with these strategies to get 3% or better interest rates if you know how to negotiate terms and figure out how to get the seller what they want.

"Budget in time to mess things up and and have to run back to Lowe’s/HD several times" this one really hit home haha. During my last rehab I think I went to home depot like 6 times.