All Forum Posts by: Charles Morgan

Challenge to creditor and credit bureau. Took a year and several calls in one case. In another it came back two years later when the original collection agency sold it to a second collection agency, I was steamed!

I had such high hopes for my current one. Guy from Mexico bought it and disappeared after a couple of years...
No boxes of money yet, no bodies in the back yard either thank goodness!

Looking forward to leaving my job also. In my case if I can stick it out for 4 1/2 more years I will have a small retirement income. Love my job, but other considerations make me want to leave. Also taking classes for my real estate license, (paid for by my job), another reason to stay for awhile.

I sometimes dream Bigger Pockets. Does that count?

My understanding is: Multi-family can be used in the U.S. to mean both smaller units(2-4) units or larger units such as apartments and condos. The main distinction here is that the smaller units (2-4)are considered residential, while larger units (4 or more) are considered commercial.

It's very unlikely that you will be able to buy a property at a sheriff's sale for 6K, but it is possible. You need to do a lot of research on those to make sure you will be getting them free and clear, most will be encumbered by a first lien or they will be priced too high to purchase for 6k cash.
MLS is Multiple listing Service, there is a very good list of terms on the site, I don't have the link right now but I'm sure one of the regulars will have it handy.
Go to a couple of Sheriff's and foreclosure and tax sales just to get an idea how they work, DO NOT take cash, lol, until you have a good idea whether that is what you want to do. See what gets sold, look at the properties afterward, research them on the county tax/public records sites. Those sales are cash only, you usually have one hour to pay. You can buy a list of properties usually and you may find a regular who would be willing to let you look over his shoulder.

Check out this Blog
http://www.biggerpockets.com/real-estate-investing

Very entertaining, smoke damage, lol. I'll have to remember that one when I kick out a smoker in the future. By the way, did you know you can file an insurance claim for smoke damage? Funny!

If I had the choice I would look at the difference in payments, it may be small enough that the 15 year plan will be very attractive.

Oops, then I should I should remove that clause from leases? My enforcer will not be happy...