All Forum Posts by: Brandon Redfern

@Clayton Coombs Power of Zero was mentioned and it’s the best advice you as a business owner will ever get. Worry less about paying taxes now as taxes are historically low. With our rising debt, SS, Medicare and growing entitlements do you think taxes are going down any further or will they need to go up to pay for all these mistakes? The “rich” are becoming the scape goat for all the problems and it won’t be long till taxes go up for people lIke you. And if you don’t believe that then just think of how AI will possIbly affect the job market In the near future, forcing a lot of people to vote for socialist policies (lIke UnIversal Basic Income), saw the monsoon coming and thought the governments $15 min wage would cure their problems. So yeah if you can find a way to not pay certain taxes then great but don’t just keep kicking taxes down the road, letting them accumulate and end up costing you much more than if you just paid them now. Tax deferral is just getting into a partnership with the Internal Revenue Service and they have controlling interest.

What's the general agenda at these? Just talking REI and networking?

As someone who works in insurance and someone with a degree I can't agree with @Marian Smith.  When you buy an insurance policy, as long as you have coverage for whatever happens, you are guaranteed a payout.  A degree gives no guarantees and depending on what field you are going into can actually COST you more to go than to not go, when you account for tuition and loans.  Not saying don't stay in school but don't believe that just because you got a degree you will have any more success. 

@Zak Parks you said "not likely to appreciate in a town of less than 10,000".  So this wasn't in Greenville?  Mind sharing what town?  I've thought about going into towns like Laurens, Belton, Honea Path but have been a little fearful ...

@Account Closed You don't pay the high property tax in G'ville if you are living in it.  IMO you'd be crazy not to house hack in town.  I shouldn't say this but I LOVE that investors get scared of the property taxes here, what they don't realize is that the rent is so high compared to your what a mortgage would be that it takes care of the tax situation and still leaves plenty.  I've purchased 6 properties in Greenville county in 2 years from both house hacking and 15% down and I get great renters and still have $400-$1000 left over. Just my 2 cents.

For House Hacking purposes there aren't too many better places than here in G'ville but that's with Single Family homes.  Jason is right in that there aren't a ton of good multi-family deals.  The rental market is very strong, it's easy to buy a $200k house and rent it for several hundred more than your payment.  So your short term approach would be good but long term it could be tougher.

Greg S. "If a tenant borrowing your money without your permission does not prompt you to take the legal action you are entitled to then, as a hobby landlord, be happy with your own personal management decisions. " Wow I guess that explains your mentality. I remember when I changed banks one time and my mortgage payment didn't make it on time. In fact it was close to 30 days late. I didn't receive an eviction or foreclosure notice. They just sent me a bill. They didn't send the cops to arrest me for "borrowing money without permission". I'm glad you're a millionaire and I'm glad to be well on my way to being one and not feeling like I have to be a ... what did you call it? A professional jerk was it :) Bottom line is we all have our own ways. I'm glad to have learned from a nice millionaire who taught me if I made it about the people then I couldn't lose in the long run. So far so good.

@ Greg. As I stated above. Late fees ARE part of the contract. You're not nearly as smart as you think you are. There are plenty of successful investors that have not adopted your strategy. Being a jerk comes easy to some but there are plenty of millionaires who didn't have to be.

Thanks Jay. I don't know a ton about those but will do some research and see if it's something he would do. Appreciate the response!

Brent Coombs so do you know banks that will finance a property for 10% or less with a decent interest rate. If so please send me their contact info. Rather than being a condescending troll if you had read my question I don't want to put down $50k+ for a property that is not the best investment short term. If you'll notice this is in the Creative Financing forum. That was not unintentional. Maybe if I spent time looking for a conventional loan I could find one but then I still have to put down a bunch of money that I'd rather use to buy another rental property or two. This purchase is not necessarily a great investment financially but more of an investment into my family and memories with good long term potential as well. But I feel as a 34 year old and where I'm at I've done ok. Had I known that I had to explain every facet of my life and my investment strategy on everything else so that Mr Combs would approve of my desire then I would have taken a little more time. :) Any other thoughts?