All Forum Posts by: Chris John

I have no idea what the $600 course is, but I can definitely say that buying Kiyosaki's "Rich Dad, Poor Dad", the "Cashflow 101" board game, and "On the Road with Robert Kiyosaki" were three of the best financial decisions I've ever made and have paid for themselves many times over.

Then, coming across Bigger Pockets during coronavirus and realizing that money was about to be devalued in a major way was also a personal game changer.  I'm so thankful that I locked in all of that debt at historically low, fixed rates.

Sincerely, I'm beyond thankful to Kiyosaki and Bigger Pockets as they've changed the arc of my family's financial situation.  I'm just sorry that not everyone has had the same experience.

@Eric Fernwood

I wish I could like your post 100 times.  You have absolutely nailed what an investor agent should be bringing to the table.  Congratulations on all of the well deserved success that I imagine you are having!

Numbers work = buy 

Numbers don't work = don't buy 

Don't overthink it and let the deal (not the property) speak for itself

I'd argue that the buyer always pays the commission. 

@Alex Kosley

It looks like you listed about 210k in debt.  What are the monthly payments on that? 

If it's anywhere near 3k or lower, I'd definitely not pay it off.  In theory, you could buy a property worth a little more than 250k and use the rents to pay your bills.  So, you could buy an asset that pays your debts for you (essentially you're paying off your debts on your income statement instead of paying them off on your balance sheet).  You wouldn't have to worry about the bills monthly, and you'd get a free house out of it eventually.

Of course, I wouldn't actually buy a 250k house for cash and without using leverage.  I'm just trying to simplify the argument.

Quick edit:  IMO, this country is broken in the sense that working hard and paying cash isn't rewarded anymore.  It worked for my grandpa, but now you're rewarded for borrowing.  I don't like it, but I definitely think it's the game nowadays.

@Ned J.

Fair point on the government overreach thing.  I definitely like zoning, but I concede that your point has validity.

I don't think we agree about the origins of the ADU bill, but I'm only speculating that it's do-gooder libs. I don't actually know for sure. I do know that I've heard progressives bang the drum, so it's a bit hard for me to believe that liberal California is carrying the water for investors after screwing them at every turn during Corona. Again, I freely admit to not actually knowing though.

Your CC comment makes me laugh.  Daddy's money does go far in the valley.  haha

@Ned J.

The news story in the link references AB 2221. That's the statewide ADU bill. The city doesn't want to pack more people in, the state does and it supersedes the cities wishes. You probably won't agree with me based on previous threads where we've had polite disagreements, but I believe this is someone exploiting the law of unintended consequences. There's been a LOT of that going around these days in this country.

;)    haha.

Go Buffs!

Quote from @Carlos Ptriawan:

It's O*K*A*Y for your blockview to be distracted so other human being, could live in the same space like you do.

Normally I agree with you and I've learned a ton reading your posts, but this one I disagree with.  It's ok that there are expensive corners of the world where not everyone can live, imo.  We don't need tent cities, people living on sidewalks or under bushes, or ADU density just because people "want to live somewhere".

If someone can't afford to live where they want to, they should live somewhere cheaper and stash cash until they can move up in the world.  I guess I don't understand when this country became about bending to the will of whoever complains the most or plays the biggest victim...  blah, blah, blah, get off my lawn!  haha.  Apparently I've turned into my grandpa.

LOL.  When the neighbors were voting for things like increased population density and affordable housing, they meant having ADUs added to your neighborhood, not their neighborhood...

Increased government intervention in a free market that works perfectly well without the intervention.