All Forum Posts by: Chris Pasternak

Typical BP answers here "look at the numbers" and invest if you get a higher ROI in real estate. Easy to do math that way. What they're not considering is RISK (see Coronavirus) and PEACE.

Wipe out the debt first.  If you're making $100,000/year in sales then you should wipe out that debt in 2-3 years MAX.  If you're not making at least $100,000 in sales then you need to focus on that first.

And $15,000 to invest with is chump change.

No to all warranties on any products and no to pools/spas for tenants.

Quick and dirty: 

1. Finish getting your degree debt free.  Pay off any other debts and do not think you're cool by financing or worse leasing a new car.  Don't fall victim to thinking you "deserve" it either.

2. Locate job and rent for 6-12 months not in your mom's basement either.

3. Save up personal emergency fund 6 months living expenses. This should take you a couple months with no debt max.

4. Make retirement priority in this order, company match, Roth, traditional until you have 15% gross income budgeted for this.  You may want to budget for life and disability insurance especially if you get married.

5. Save 20-25% for a downpayment on a house with 15 yr fixed loan.  With your degree and depending on prices of house you could probably wait a little longer and buy it cash.

You want to build the little brick house.  By house hacking with $2k in your pocket and getting mixed up with parents on a deal you're building a straw house that'll get blown down.

Good luck I hope you consider this advice but pretty sure you won't because this is slow and steady and we live in a microwave society and you're going to do what you want because you are chasing a fix similar to that of a gambler.

Your theory is wrong.  Cash transactions up because of competition in market.

Nothing to see here.

Are you getting married?  You said you would rather house hack yet you're not because you have a girlfriend.

Move.

Usually it's the general population that posts something like this.  The fact that you're a licensed agent...talk with your employing broker, simple as that.  Now if theyyyyy don't respond to you...then you've got a situation.

Um....just stay put and instead buy an investment property if you're gung-ho and she's on board.  Short answer aside these questions on BP are never quick answers...

Are you out of debt otherwise?  Could you tell me your monthly family expenses immediately if I asked (i.e. do you budget or blow money)?  Do you have a family emergency fund?  Are you otherwise saving for retirement?  What kind of employment does your family have?  How long does your family intend on being in Charlotte?  Does your family have life insurance, disability and a will setup? Do you have kids?  Etc.

These are more important rhetorical questions.  

Best of luck.

Question: who's got a more valuable real estate portfolio...the life insurance company selling you this product or you?

What price point for housing and COLA?

Pueblo, CO is around an average price of $250,000 and you won't find cheaper for this size town in the state. 

Close enough to Monarch mountain for ski day trip. Beulah, Rye, Westcliffe are all under an hour drive for quick mountain getaways.  These places won't be as packed as anywhere up north either.  Nothing like trying to escape to the mountains and bombarded with people everywhere.

Best of all light traffic (at worst) and best climate in the state if you ask me.  I don't own a snow shovel my driveway faces south it's all melted by noon.

Good luck.