All Forum Posts by: Brad Pietrzak

yea we have alot of money in low cost index funds as of now. they work great in between saving for a property with cash. I've though about leverage but between the p and I cap ex maitnance vacancy and all the other stuff it is cheaper to buy the condo with cash then up and sell it when I can buy the duplex. taxes are high here for homes on there own lot the condo is closer to 1 percent property taxes were as single family homes and duplexes and such are closer to 2 percent to 2.2 percent so that is a big reason why it makes more sense as of now. yea just this first duplex I want to pay cash for. after that I have no problem with leverage. but if we live in it it's gotta be paid for it creates a very stable rock so if the wind blows hard I am protected and have no worrysit really helps ease my anxiaty disorder and will prevent a stroke at a early age. a large reason as well is we cant qualify for a morgage that large. I make alot but my income is odd and doesn't qualify for conventional morgage as of yet so we would need to go off her income and she makes less then half of me. so untill she finishes her bachalors and dental school I'm going to be the bread bringer in the family. appreciate your response! it sounds like you basically said move forward with the condo then sell it when necessary correct?

hey guys thanks for taking the time out of your day. so I have some options here I want your opinion about me and my sweetheart are saving bucket loads, she is living with family and I live in a bad area. now once we get married and live together I do not want to expose her to this horrid area it is very very very dangerous for a pretty women. I'm talking like a d minus area practically the projects. so by the time we get married we should be able to buy a condo with cash in a great area. what we really want is a duplex in a great area but they are about 3 times more expensive then the condo. I want to buy with cash. I've done the math and it seems we could with certanty keep up this massive savings rate up if we bought the condo cash and lived in it and could buy the duplex cash in probably 4 years after by selling the condo. Would it make sense to buy the condo for that short of a time just to up and sell in in 2 to 4 years for the duplex I am not counting on much appreciation it is a condo. there may be some because of the area however. But this seems to be the only way we can keep our savings rate up. even if we leveraged the duplex we still would be worse off savings wise. I am living very very cheaply so much so that people do not believe me less then 800 a month total and all no bills after that 10k a year and I'm clear all the rest is investing and saving money she has no bills because she lives with family we will be a one car home when we buy to save on that and it will be a little more expensive but shouldn't shift all yo much. Would you say it's worth it to keep this momentum up in savings to buy the condo just to upright sell it. as of now return is important yes but I want to conserve my momentous savings first and foremost and solidify it so I can have a great catalist for future investments

I've thought about doing that. there areas cost of living must be different I'm not exactly comftorable now but I live off of about 700 a month I don't even know how one person would struggle to live off of 35k unless they had a car payment and other debts weight on there shoulders and went rooming in someone's home from a current renter perspective rent is rediculasly expensive which is one of the reasons I look to being a landlord. due to her culture untill we are married she stays with family so she lives for free. I'm in a rooming home in a bad neighborhood(D-) most of my meals consist of ramen and chef boyardii together we save about 3500 a month I'm just looking to try and maintain that pace of savings when we buy as much as we can so I'm not as concerned with the return of the houshack(not that it isn't important however) as much as I am about keeping our cost of living low so we will be able to keep that momentous savings rate up we are in a good situation right now and I want to first and foremost solidify that good place with a stable rock that way we will not sway when the wind blows against us. I know once I have a kid it mite be more unrealistic to live off 35k but I'm sure it's possible if your willing to sacrifice enough others do it. comfort is secondary we can be comftorable when we are rich she is mostly on the same boat all though not quite as extreme as me in that boat. but she follows me and trusts in the plan. I just hope it works out in the end the way we wish it to.

I've looked at getting a 4 plex I could probably found one up for 250 or less depending of what I want to deal with it would more then make the morgage payments renting 3 of the units. the only thing is 4 pieces are hard to find. would you say looking up past sold for places and cold call offering would be wise? sense not many are on the market.

interesting I appreciate it.this first one we wanted to do with very little leverage I don't have much of a problem with leverage but before I use it I want to build a stable rock first so that raising a family is as least stressful as possible so I wanted the first property that we live in and househack to be nearly payed off or completly payed off. however after this we will most certainly be using leverage. but between my lack of experiance and not knowing how much I would even enjoy managing my own propertys. and just the unknowns of employment and realestate especially being fresh out of college like being laid off or even how to do alot of the lead generation for tenants I would perfer to have a buffer against that before we go all out with leverage. that way if I stumble we can keep moving forward and a mere stumble doesn't stop us in our tracts

between me and my sweetheart we make enough to easily handle a multifamily property as a house hack even a single family home. but that is not what we want to do. what we want to do is put a large enough down payment on a duplex so that we can comftorably live off of her 35k annual salary and anything as I make as a engineer I can just invest for our future. we have only rented as of now. I am unfamiliar with the costs of homeownership. I have looked up some numbers and have a idea of how large of a down payment we would need to put. I wanted to get another opinion first. So duplexes in a c class area here run about 130 to 150k I could rent the one side as long as it is in good condition for around 8 to 900. I was thinking we should throw around 100k down that should give us a morgage taxes and insurance around 500 monthly enough to raise a family on her income alone all while not having to count on the rent so we can just treat it as a bonus and use it for more investing. Would you say that would be a large enough down payment? Or should I just buy it outright. I really am sorry if I sound stupid with this post. I just value multiple opinions before we move forward

sorry about spelli g small phone keyboard

hey guys me and my sweetheart have finally saved up around 44k now the market is hot so we are willing to be pretty patient here. between us we are saving about 3500 a month we have no kids that's partially why. Now I make the larger bit of income here and she makes about 35k annual. We want to start our first duplex house hack in a c class area but put a down payment large enough so that we can live and eventually have a family on just her income The duplexes range from 130k to 150 anything more and I think the owners want to much for the rents. The good about the area is that the one percent rule is pretty easy to obtain. The bad is property taxes are about 2 percent The rent from the duplex just one unit could probably gross us 900. If we could I would like to have the margages be low enough so we don't have to rely on the rent and it can just take care of it's own unit and anything left over I'll invest. to keep the momentum up we are ok staying here untill we have enough to put a fat down payment. We were thinking if the morgage taxes and insurance were about 500 to 600 a month we could comftorably live off her income. but I am not sure it's not exactly the sane as rent there are more expenses to owning a home

my car is a piece of **** to there is nothing to steal off of it it's 25 years old

I got a gun I'm not to worried I'm ex military I know how to use it. I have anxiaty disorder pretty bad and it was flairing up when I wrote this I'm sure I'll be fine with my safety the smell was just bugging me