All Forum Posts by: Mike Berlay

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TD bank makes conventional 3% loan

Im working on getting 1% + 2% grant from Quicken loans. 4.375% locked two days ago. Banks keep these loans on balance, probably until 20%. LTV

You are doing great and grow very fast both in personal and financial life. I would take a pause on expansion, wait to baby come while building reserves.

@William Hochstedler  Thank you for interesting opinion, there are good points here.

@Jon Holdman  My girl account payable/receivable and customer service in medical supply. I was in car accessories manufacturing everything from design, make, ship to sell, work with supply and stock. Currently working as inventory controller, but I worth more than they want to pay. I know more than average guy about two things, money and computers.

I love to think, analyze and learn new things. I did carrier test few weeks ago and it showed me software developer and system or financial analytic as top. 

I learned HMTL, php, mysql to edt my website. Also at current work IT department was busy to help me to implement bar code scanners so I found online book, learned python and wrote application for it. 3 weeks later I still cannot get spare old computer to setup and start to use it. oh, I'm a smart guy, but I cannot turn it into profit.

I do not go to Manhattan. Funny to say we were trying to escape city every time we had a chance, go to NJ do pick-you-own fruits and vegetables from farm and go to local beer brewery for round of samples. :) Princeton, NJ is our favorite spot. 

Last two years was financially hard with my startup business failed because of lack of sales and marketing knowledge.  Now I got 9-5 on W2 and at least know that I can cover bills, but not much more. And I have only basic bills, no car, no eat out, not even a health insurance. This is probably more emotional move, but I'm trying to find financial data to support it.

Thanks for input fellas @Jean Bolger @Todd Belanger @Bill S. @Brad Starling 

I'm not comfortable to limit myself to small city like Pueblo. Specially moving to unknown area is not smart. I think moving do Denver metro may work on safe size of opportunities and as a start point to explore area from there. 

Where I can get more recent data and what kind of metrics is important? City-data has last update 2009, Colorado Springs maybe a good size and price city. Have to dig deeper, but lacking of information. 

If it was only for real estate I would probably just go to Milwaukee, Wi. or  Chicago as I have friends there and even a company branch will help with work and than invest to Milwaukee, but there is no mountains around and average temperature is kind of cold.

Texas and Florida on opposite side.

I was thinking to rent 2 bedroom for $600-700 range, get some cash reserves and starts on 50-100k deals. Not sure if it is possible, it just what my gut says.

I do not have very specific job skill that limit my choice of industry and town. I`m trying to find out what is difference in these states in living and real estate. If any one played Cashflow 101, I'm looking for small deals to start, as I have limited resources and experience.

From map view for me UT is on city from Ogden to Provo. 1-1:30 hour drive is nothing as I spend 2-3 hours now just to get to job and back. 

In Colorado it is I-25 Fort Collins, Denver and subs, Colorado springs, Pueblo. I can land in Denver as center point.

I have been living in NYC since 2006 when I came to US. All this time my plan was to start a business and invest profits in real estate. This year I have closed my first business with some financial loss, but educational growth. Now, I'm in written financial budget and Ramsey fan.

All these lead me to thinking about moving to places where I can get more for my money as I do not make much and start over with smaller deals. I got data from multiple sources and combined with personal preferences, which gave me the 2 states to focus research. Utah and Colorado. I grow up close to mountains and love snowboarding. Also, both states in top 10 job growth since recession and good potential for long term growth. Has small cities with low cost of living and fun things to do.

I need more inside details to find out the difference and choose a city with jobs and close to markets where I can pick up rehab. I do not have any cash to invest and currently trying to pay off all stupid debts I got. I think me and my wife can get same $50-60k household income. I just finish 2 years of college. So no $100k salary here. Plan is paying off debt, saved up ~20K and start with buy live/fix property and rent out later.

What state would you move to live and invest?