All Forum Posts by: Ben Hampton

@Karl McGarvey I was recently in a very similar situation. However my truck still had about 24k left to paydown.

Your goals and how close you are to freedom makes a big difference in what the "right answer" is in my opinion. But this is what I did.

I chose to refinance it with a local credit union as a business loan under my business tax ID number instead of my SSN because I use it for business part of the time. This removes it from my personal credit report so for purpose of loan applications on rental properties I had removed it from my DTI.

In my mind using that money as a down payment allows me to build wealth faster than just making the payment disappear to save the about $300/m.

Best of luck.

Hello @Mary Mueller I am from Sonoma County but my family has a number of investments in Willits and I just moved to an investment I bought between Willits and Ukiah. I have been wanting to put together a meet up for Mendocino County investors maybe we can get together sometime

Hi Wyatt, 

I Live in Santa Rosa and am currently doing a renovation in Mendocino county on a property I am BRRRRing

I also go to the Meetup group that meets in Petaluma most months. Hopefully I will see you around the area. It is always nice to know other like mined folks especially younger folks. 

@Morgan M.

I think that amount is definently enough to get started with. There are lots of ways that you could work with an investor I know that you are local to my north bay area, I just sent you a PM with a few local folks I suggest you reach out to. 

Good luck!

If I understand correctly Dalton your thinking of paying him by the job instead of by the hour? 

I own an IT contracting company for my day job and I can tell you there are big benefits and disadvantages to both by the job and by the hour. I suggest you talk to him and see what he feels more comfortable with. For myself, I can say if I am confident in what I am doing I want to be paid by the job because the value of what I am providing in a short time can be huge. On the other hand, if there is a possibility of the job changing once I get started or I am not super experienced in the exact type of work I prefer to be paid by the hour. Nothing is as frustrating as agreeing to a by the job price and having it take way longer than you thought it was going to. 

I agree with the others that the value of your relationship is probably the most important thing here. 

From my own experience replacing termite damage your never quite sure how much there is until you get started so hourly might be best. 

Hello! 

My name is Ben, I am 25 and just bought my first property here in northern California, (3bed/2bath with mountain top views) it is located between Ukiah and Willits. I am in the middle of my renovations right now, nothing serious in my mind but replacing siding, new kitchen, and bathrooms, etc. I hope to turn the main house into a rental and live in one of the renovated outbuildings on the property, does anyone have experience with this? 

I have been around real estate my how life but this is my first deal of my own. I work in Cloverdale but grew up in Sonoma County in the Santa Rosa area. I would love to connect with other Mendocino county investors and am thinking of starting a meetup group.

My real estate goals are to create enough passive income to replace my job. 

looking forward to connecting with folks here! 

Cheers