All Forum Posts by: Tony Thompson

The broker tells me the usual time to protest is in the Summer months.

I have been talking with a Broker about a property I am looking at. She told me that since the appraisal value of the property may have been too high, taht I may be able to protest the property taxes and get a somewhat lower tax.

How does protesting taxes worK?

Yes there are some houses out there on the east side that could cashflow pretty good. The thing is I am looking for a place for myself to live. I do not want to live in a bad area (better cashflow). My strategy is to start with a duplex and rent the other side. Why? The financing for this duplex would be a lot better than getting a straight investment property (right?).

Now, this particular duplex is asking 150,000. If you run the numbers at 140,000 or 135,000, it is a pretty decent deal. Not as good a deal as your lower income neighborhhods east of downtown or in kck, but a good deal considering the location. Once again, I do not want to live the next 5-10 years of my life near crime.

If any of you are familiar with KC, this place is between waldo and prairie villiage.

Only if I buy full price. Forget that!

Okay here we go,

I can get an FHA loan for this property at 5.625%. I can pay 10% down with PMI of 1.75% of cost up front.

With those terms, the deal passes the 50% rule and is a good deal.

I will not use my parent's money, thus getting rid of that $190/month payment.

Here is an example of how bills should be written:

http://www.govtrack.us/congress/billtext.xpd?bill=h111-1207

No need for in depth legal jargon.

I don't need to read a bill thats 1000 + pages long. Any bill this size is meant to shield eyes from reading.

Very interetsting Dennis, thank you.

I'd say keep reading both books and these forums. Eventually you will run into a book you will enjoy if you read one every week or two. Then once you find that book you love you can reread it and pick up things you missed.

Have you read "The Millionaire Real Estate Investor" by Gary Keller?

It has been on the market for over a year and started at $225,000.