All Forum Posts by: Blake Clement

@Joe Splitrock thank you! I will definitely read that book. Thanks for the advice!

@Daniel Hyman

No magic wand included I guess, thanks for the advice!

@Ashish Acharya

Ok thank you for the advice, do you know what would be considered a reasonable price for someone in my situation?

I have 3 doors that generate $3,500/month in rent. My goal is to buy a 4 plex this year. My wife has a W2 job that she makes about 63k/ year. I have a W2 that makes about 80k/ year. We owed about $2,200 in taxes last year. I want to get a financial strategist to help lower the amount of taxes I pay. Right now the company I want to use charges $3800 for the tax plan and then any where from $700-$2000 for filing the taxes. The $3800 is a one time charge. Are these fees comparable to what other places charge? Is it worth it for me to pay those kinds of fees since my relatively small at this point or should I just pay the taxes and wait until the fees of a finacial strategist put weight the cost of my taxes. I would appreciate any advice! Thanks. 

When talking to my real estate agent I asked about the heloc and he said it was a possibility to go that route but that it would lower the amount I would qualify for due to the fact that my debt to income ratio would be higher. He said he didn't think I could find what I'm looking for if I used the heloc. Not sure if thats the case or not which is one of the reasons I wanted to reach out on here. Thank you for the response by the way!  

I house hacked my first home and rent out the bottom for 1100/month. My wife and I will be having a kid soon and want to basically duplicate what we have done with our first home but with a bigger house. We have rented out the bottom of the house for 2 years. We would like to keep our first house to rent out the top and bottom while renting out the bottom of our larger future house. I just talked to my real estate agent and he said he doesn't think we have the capital to make that work right now. We have 10k in savings, and 13k in a 401k/Roth IRA. The real estate agent said that in order to find what we are looking for we would need to look in the 400k price range and have to put a minimum of 5% down. We have high credit and low debt. How would you suggest getting the capital for the down payment on the next house?