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All Forum Posts by: Brendan Woulfe

Brendan Woulfe has started 1 posts and replied 19 times.

Post: Real Estate Investor friendly Insurance Broker - Columbus Ohio

Brendan WoulfePosted
  • Investor
  • Galena, OH
  • Posts 19
  • Votes 8

Thanks for starting this thread @David Lehane.  I just started this process as well and already got a couple quotes.  It won't hurt to make a few more calls.  

Post: New Investor in Columbus, OH/Phoenix, AZ!

Brendan WoulfePosted
  • Investor
  • Galena, OH
  • Posts 19
  • Votes 8

Welcome @Nathan Turner!

Post: I AM CRUSHING 2017! Best deal day EVER!

Brendan WoulfePosted
  • Investor
  • Galena, OH
  • Posts 19
  • Votes 8

Wow nice work @Meghan McCallum!  

Post: Carpet or woodfloor for rentals?

Brendan WoulfePosted
  • Investor
  • Galena, OH
  • Posts 19
  • Votes 8

Hardwood. I decided to do all hardwood and tile (kitchen and bathrooms) throughout my first rental almost 5 years ago.  The floors haven't been replaced since and I don't anticipate having to replace them anytime soon.  

Post: Land inheritance Arcadia, FL

Brendan WoulfePosted
  • Investor
  • Galena, OH
  • Posts 19
  • Votes 8

I own 1/3 of a piece of land that I inherited last year that I'm looking to sell.  I figured I would start by finding real estate agents in that area that could help with that process but I haven't heard back on any of the messages I've left, so far.

The property was used for wholesaling plants, trees shrubs etc.  The only real structure on it is a small shed and a 100 ft long greenhouse.  I'll need some help figuring it out what a property like this might be worth and potentially putting it on the market.  

Is there anyone in the Arcadia, Port Charlotte, Punta Gorda or possibly even the Tampa area that might be able to help?

Post: Columbus , Oh - Multi Family

Brendan WoulfePosted
  • Investor
  • Galena, OH
  • Posts 19
  • Votes 8

Post: New Investor - Columbus Ohio

Brendan WoulfePosted
  • Investor
  • Galena, OH
  • Posts 19
  • Votes 8

@Patrick Yuska, welcome to BP! To me, SFH's for a buy and hold strategy seem tough right now in the Columbus market. Too many residential buyers. I'm more focused on looking at MF properties at the moment.

Post: Don't start investing until you have $100,000.

Brendan WoulfePosted
  • Investor
  • Galena, OH
  • Posts 19
  • Votes 8

To me, you should have your personal finances in order before you start investing.  If you can't create a budget, have credit card debt, can't or won't live within your means, and don't have enough saved for a decent sized rainy day fund then you shouldn't be investing.

100k is an arbitrary number.  For some that may make sense.  To me it didn't.  I started investing when I had an extra 5k.  I started with stocks and did a lot of reading and research before jumping in.  Even if you're prepared, you're going to get an education and you're likely going to pay for it.  Literally pay for it.  I lost some of that initial investment but I learned a lot, refined my strategy and forged ahead.  Had I waited until I had 100k I don't know when I would have started but I do know I likely would have still paid for my education.  Except it would have been 20% of 100k instead of 20% of 5k.  

Post: The Shell Game - Pay off Debts or Invest?

Brendan WoulfePosted
  • Investor
  • Galena, OH
  • Posts 19
  • Votes 8

@Laura H., a couple things.

1) If you have realized gains on those investments then you're going to pay a capital gains tax when you sell.  So yeah, the tax man will come calling but if you time your sell you can pay those taxes in tax year 2016.  I don't carry credit card debt but if I did I would make it a point to pay that off before even thinking about investing, but that's me.

2) Your oh sh*t fund isn't exactly what I would consider an oh sh*t fund.  I want my emergency fund more liquid than what stocks can offer.  What happens if you need that money when the markets are closed?  If you need to get to it quickly you might not be in a position to do so.  

3) Others have stated using the money that you're currently putting into your 401k and putting it towards your credit card debt.  That sounds like a good plan as well.  You have some options here.  Balance transfer, selling stocks, rerouting your 401k money etc.  I'm sure there are others that we haven't hit on yet too. 

Good luck!

Post: The Shell Game - Pay off Debts or Invest?

Brendan WoulfePosted
  • Investor
  • Galena, OH
  • Posts 19
  • Votes 8

You have 7k in a personal brokerage account (I'm assuming) that you said can be liquidated.  Are you making a guaranteed 13.5% on that money?  You also said you have 25k in what I'm assuming is a savings account that earns next to nothing is interest.  I know you said that your husband wants that for oh sh*t/emergency purposes but if you use 15k from that you'd have 10k left plus a credit card with a 0 balance that could be used in case of emergencies until you build your savings reserve back up.  Or you could do a combination of savings, stocks, and balance transfer to 0% to pay it off.  You have options.