All Forum Posts by: Charles Morgan

I love seeing renters drive up in cars that cost more than the home they want to rent from me!

I own a 2008 Hyundai Accent and a 1986 Ford van. Together they cost less than $7,000, the money I save goes into rental houses.

It sounds like you have two great exit strategies in mind, flip if it makes sense, BRRR if flip doesn't make sense. I'm a big fan of BRRR! Good luck and learn a lot!

Speaking of law suits, if someone sues you and thinks they can include her as common law/domestic partner/whatever, they will!

I echo the Craigslist post. In my area you would not have much left in a day or two. 

Great question! I have had previous girlfriends offer to pay rent/utilities etc. and I accepted. Living in Texas though, common-law marriage is a very real possibility. I will certainly have to consider carefully before I begin living with another girlfriend. One way around it may be to put your home in a trust or LLC and yourself pay rent.

Of course you should always consult a lawyer before acting on any advice.

Good luck! If it makes sense at the lower numbers just imagine how it will do with a couple of cheap upgrades and a bump in rents next year...

Wow, sounds like a dream to me! I just payed $26,000 for a mobile that I expect will only make me $2-300/month cash flow. Would love to hear how you do!

http://www.ebay.com/sch/i.html?_from=R40&_sacat=0&...

Congratulations!

Refi and rent it. You get your principal out without tax and get a monthly income after that.