All Forum Posts by: Adam Moehn

I agree with @Lonnie Pickard . The make me move prices are usually over retail. I think it's mostly used by people who aren't really looking to sell unless someone were to offer them a ridiculous price.

Welcome Shane! You'll find lots of good information here. Check out the ultimate beginners guide if you haven't yet.

Welcome! You'll find lots of good information here.

Welcome @Grant Reischauer !

There are advantages to renting, in some ways I miss being a renter because of these:

You have a fixed payment with no surprise repair costs. 

When something does break, there's no need to worry about how to repair things or who to call. You just call the landlord. 

You have the flexibility to move much more easily than if you need to sell a house. 

You may not have to do any yard work. 

You may not need to pay utilities if they are included.

No need to worry about property values falling.

Congrats, sounds like you're doing well!

Welcome Lance. You'll find plenty of good information here. I imagine most non-real estate investors won't know what real estate wholesaling is so that'll probably be the norm most places.

I don't mean that the curriculum would be any more difficult than any other subject to put together. I mean that even agreeing to have a class on the subject required would be difficult. There's only so many hours in a school year making it a zero sum game. Adding a new class would de facto require removing another. Which will it be? Math? Science? English? I think it's important enough to need a spot, but making the difficult decisions necessary for it will be the sticking point causing it to be difficult to accomplish.

It seems kind of crazy to me that a society the runs based off money doesn't teach the basics of how it works to our children. Even most college graduates have probably never taken a personal finance course ever in their life. It's an afterthought if it's done at all.

I actually did a thesis on the concept in college. My conclusions were basically that people who have taken a personal finance course on average had improved financial outcomes, but it was a weak predictor. I suspect it's weak because of a selection bias on who takes that kind of class. As someone else mentioned, it's often used like a remedial course. I know in my high school the only kids to take the one business course offered did so as an alternative to taking a more difficult math class. A bigger predictor to improved financial outcomes was if their parents taught them about money.

So my thoughts are that:

1. Even a single personal finance course would probably be helpful

2. But more would probably be better

3. And parents ought to be teaching their children about money

Of course the problem with number 3 is that many adults have never really been taught anything about money so it makes it hard to teach their children. So schools should be picking up the slack. If they did, maybe in a generation or two there would be less money problems in the country. That would help not only individuals but the whole economy.

Of course actually getting it implemented wouldn't be easy. There would be a lot of politics about it among teachers, school administrators, and of course, politicians. When I was doing this thesis I talked to some various people about why it wan't required at my college. The answer was basically it's not because it never has been. It's hard to add more required courses. You'd probably need to remove a different course from being required to make it work because you can't have too many required general education classes. And all departments in the college would fight tooth and nail to make sure it wasn't one of their courses that got removed. So it would be very difficult to add just one course at one college. Imagine the difficultly of doing it nationwide.

I have the very modest goal of buying at least one new rental property. I figure if I can get at least one per year, I'll be doing good in the long run. But I'm one to set modest goals then try to beat them, so if I may do much more than that.

I like the idea of doing a flip to build up more cash for rental properties. That's probably something I'll look into more this next year as well.

@Andrew Carter , you can add me to your list as well. You'll meet your goal in no time at this rate.