All Forum Posts by: Byron Bohlsen

Admittedly I haven't been in the business long but what don't understand is how I contractors think they deserve 70-80 an hour for their jobs. I make significantly less per hour at my corp job and yet it requires skills most contractors I have met would never be capable of having.  

In the end the question is how bad do you want to grow your business?

Personally I went from a 14k car down to a 6k car, now a year later I am getting it ready to sell to move down to a 1.5k car. Do you have a newer lemon or an old lemon? - Having a newer car because its more reliable is a bit of a fallacy, new cars can have as much maintenance, except its significantly more expensive to fix each trip.  You may or may not be doing repairs more often with an older car, but its still cheaper. 

My parents have a 98 intrigue with 230k miles on it. We had to replace the tranny once but otherwise its just been the standard maintenance schedule. 

Also owning a beater is much less stressful - I don't worry about how much this and that costs or get angry when something breaks. No stress when the ahole in the parking lot dings my car or I back into something. If you get to the point where that kind of stuff doesn't bother you with a nice new car, then you can truly afford it, otherwise you cant :).

My plan is to get to 9-10 properties and then reassess. In the end I want that maserati or lambo but a nice jaguar in 5 years instead of 15k car now sounds like a heck of a deal to me. 

As long as the asset cashflows well enough in a stable area and I don't get trapped unable to refi in the middle of a brrr i wouldn't mind another down turn for access to more deals. 

perhaps a refi into a 30 year note would go  long way,  but still doesn't even meet 1 percent rule. 

That said now days they make scanners and email..

Hi Joel,

If you give rentprep a try i recommend their platinum package with optional credit check. What i like is not having to spend the time and effort calling past landlords and employment. Also they have a coupon for new users. 

I haven't heard of a bank using a county assessment for a purchase loan. Are you thinking of an appraisal? 

That said county assessments almost never match market value. The county assessment is off by 60k on a place i just bought and its not a super spendy home. 

I use rentprep and have been happy so far.  

what are the comps telling you

I just experienced a similar situation but in my case having a trusted buyer agent didn't help me. When my agent contacted them to put in my offer and they said an offer was in and wanted a higher offer so i raised my price 5k. When agent called again got the assistant and assistant made it sound like there was no other offer. My offer was accepted now waiting bank approval. Lesson learned don't trust what they say. 

Normally i would agree with you but the sellers were liars and cheated me out of some money so if i don't have to pay legally then i wouldn't want to