All Forum Posts by: Andrew Cornstubble

@Nathan G. Good call. Half of my friends with degrees are just working average Joe jobs because they hate their field or can't find work.

I hate how I learned nothing useful in school besides basic math yet had to spend over a decade there.

Why on earth would I want to become a doctor, lawyer, engineer, etc when I can own the buildings they work in and the houses they live in?

@Benjamin Ervin I'm glad you took the time to post this. I'm in a similar situation and I think piece of mind is worth gold. Reading this trying to decide if I should pay off old debts or find a house to rehab. I think having these old debts gone might make less sense financially but I think just having them gone and starting fresh might be the way to go.

@Mindy Byran wow!

@Matthew Wolf came here to say this. Forced appreciation is best appreciation

@Kevin Zhang Buy a case of beer and drive up the road 2 miles.  I'd Knock on a rich friend's door and call my bosses.  I'd give them a 30 day notice since they have been good to me and potentially become business partners in the furture when he opens the door.  I'd hand my buddy the 300-400k cash call our attorneys over to have drinks and loan him the money at 1% less than the lowest current loans they have.

With the interest i will build cabins with a view to rent/sell, help my other friend get his fantastic new business venture up and profiting.

Any spare time and money I have will be spent doing deals and working on pet projects.  I like to tinker and I'd like to bring some jobs to my small town along with the housing.

If I could talk my wife into it I'd get an FHA loan and build a big quadplex or something. 3.5% down? Sign me up.

Basically the same things i am already working on, just faster.

@Yandry Mastromihalis I had a credit score in the 400s when i finally stopped figging the hole i was in. Gotta love medical debt.

The advice i got was to get a handful of credit cards. I had to pay for 3 secured cards. Use one for normal day to day stuff like gas or groceries. When the first bill comes, pay the minimum and swap out cards. When the second bill comes pay it off. It's a little bit of hassle but it works VERY well. Sign up for Credit Karma and follow their advice. Keep the cards under 30% of the maximum the card allows also.

Take from that what you will. A guy worth well into the 7 figures told me he doesn't even look at his credit score but he uses a card and pays it off monthly. His credit score is in the 800s. The person that taught me about swapping out cars made over 7 million that year.

I won't pretend to be an expert but it didn't take long to repair my credit. I'm sitting just shy of 750 on Equifax and Transunion. The only thing I need for 850 is time now.

@Joe Alford what a mess.  Personally if she is a good tennant i would try and find a suitable property that is more affordable if i were to evict her.  I'd also have a buddy come help move all of her stuff and get her settled.

Business and ethics seem to but heads sometimes but I somewhat believe in the golden rule or karma.  You bet if you boot her she will tell everyone she knows and they will hate you.  But if you handle it properly or cut her a break you never know.  Maybe she tells a friend or family memeber what a fantastic landlord you are.  1 or 2 tennants would be a pretty good bonus just for being empathetic.

I rented a house to a buddy one time (i know i know) and surprise "ahh man I'll get squared up soon as i can.  Just give me a month or two."  I then doubled down and let him work some of it off painting.  Needless to say i learned some lessons quick.

But, in doing so i was able to learn a little more about handling tennants.  We are in a small community so only my wife knew about this.  We met up at a rock festival not long after.  He of course never brought up the fact that he owed me $800.  But he did introduce me to some of his friends and we hung out for 4 days drinking beer and rocking out.  One of them wound up being the golden goose of tenants.  The house wound up being in better shape after he moved than when i rented it out to him.  And that guy in turn recommended the next tenant (a friend of his) so i didn't even have to clean it or miss a day of rent.

I could have threw a fit and probably still never got paid.  But I consider it an $800 lesson that could have been a lot worse.  I got to keep a buddy that i like hanging out with.  And i wound up with the best 2 tenants i could ask for.

@Paul Sandhu Oh wow. I'll second not living in Coffeyville. While I was OTR driving I got the pleasure of visiting A LOT of ghettos. I have to say, Coffeyville is up there. Don't get me wrong, I've met some nice people there and made friends at CCC. But the amount of drugs and violence in that town is extremely alarming.

I think I'll stay here in Sedan. Lol.

@Koby Lund Carter Go to a camper lot and ask the people there whow much they like living in a camper.

But, it could work in your area. I don't think you'd lose much money if you gamble with one. You still have the land and you can just haul the house off.

@Ray Hayward Depending on state law and your agreement you might just send a letter telling them to get it sorted. If they don't then let them know they need to be looking for another place to live.

If the tennant can't mow then how long until they "can't afford rent?"