All Forum Posts by: Andrew S.

I don't have any experience with lease options. I only have traditional buy and hold propertie.

I'm trying to allocate $10k of savings for the end of the year. My current options are to max out my annual 401k or begin my next deal savings? I've recently purchased a property and used most of my available funds to do so. My savings rate is 85-90% with house hacking and other rentals cash flow so I'm able to save up fairly quickly. Some of the lessons from Set For Life (about net worth that's not accessible for decades) have me questioning whether to max out my 401k & save for rentals or contribute up to my 401k match and then save an extra $10k for rentals per year? I also fund a Roth and plan to continue that. I'd like the ability to retire from my day job in 2-10 years. Starting to expand my mindset about what is possible. That good ole Midwest lifestyle of work at Corporation XYZ until you're 65 is slowly getting out of my brain.

Consider buying a sweet set of tools and watching YouTube videos for how to fix _______

Try renting it, see if it works out for you. Sell in a couple years if renting isn't your thing. Relatively low cost house for you to learn landlording with. Versus learning to be a landlord on a multi-unit rentals with higher cost and more moving parts.

Later on, you could seal it in with Kilz and then paint a coat of normal latex paint on top.

Did you have a signed Estoppel agreement that listed ongoing maintenance issues? Might be worth looking into on your next investment.

Congrats on your first deal. The cash flow and success is great, but the school of hard knocks education and confidence is priceless. Keep up the focused work and it'll pay off. At least that's what I tell myself!

Not sure if you're giving out applications before tours but I try not to give prospective tenants an application until vetting them over phone and a tour.

Curious on others opinions and wanted to share my learnings.

I installed a thinner vinyl plank (Shaw Matrix) with a 2mm laminate/ hardwood foam underlayment material. I purchased tis underlayment because it had a shorter lead time and was cheaper.

The thinner vinyl in my kitchen is buckling near the fridge and stand-up freezer. The thinner vinyl isn't truly floating on the soft underlayment. 

My plan is to pull up the planks, lay down new 1/4" plywood underlayment above the old uneven hardwood floor then re lay the planks. I don't think I want to leave the buckled planks. I'm house hacking this unit now so it's easy for me to repair.

Curious if anyone has went through a similar situation and came up with a different solution. Thanks!

"Being broke is hard. Building wealth is hard. Choose your hard."