All Forum Posts by: Chris Weaver

Good idea, thank you. I haven't told many people that I am looking to purchase. What should you tell them? That you're looking for off market or distressed homes?

I've driven for dollars, posted "We'll Buy Your House" ads on Craigslist and Facebook, mailed a list of people and only ran into a couple of people who wanted way more than their house is worth. Any tips on getting a good deal? 

I would buy as soon as you feel comfortable. Not investing until you have $100,000 seems a little slow. What if you work a low paying job? Are you supposed to just stash away in your savings for however long it may take?

I would be wary of having a "handyman" g.c because they might take much longer getting subs in there. Professional contractors usually know when to call the subs to get them in there as quickly as possible. Also, they hopefully already have relationships with plumbers, electricians etc. and can get them in there faster. You need someone who will go in there, know where to start and who will insist that the job get completed properly. Good luck.

If you have any questions about the area I'd be happy to help.

People who try to gc themselves usually think it's easy. It might be simple but it's not often easy. A professional gc should have everything lined up and ready to go because they know how long thing take and who to call next. For example, John Doe who is "general contracting" the build of his own home will wait until the foundation is done to call the framers. Where as a professional will have the framers lined right up and ready to go the day the foundation is finished. You might save a little money on the bill by calling the subs yourself but if your project is time sensitive, call a professional. (All of this is assuming you have a good gc)

I'm just wondering your thoughts on rental properties. I'm not against them but it seems like a really slow process or wealth building. Do you agree or am I missing something? Any input is appreciated.

Where is the property of you don't mind me asking. I am somewhat familiar with the area.

From what I've heard from the podcasts, pretty much every home needs something done to it so repair costs at zero might be a little conservative. Also, I would NOT want a house in a flood zone because the insurance rates have unpredictable futures (from what I understand).

Originally posted by @Erik Johnson:

@Chris Weaver Why would he want to get a lease? He would then be paying to use the car every month and would never own the car but must keep in near perfect condition(and paying near the same amount as a normal car payment).

 Because it would get him out from underneath that ridiculous interest rate. I know buying a junky car for under $3000 would be the last thing I would do if I was using it to commute to my job.