All Forum Posts by: CJ M.

@Wesley Acevedo

I've taken on a couple dozen loans in the past 2 years. Some lenders report them to credit bureaus and some do not. That said, prior to getting into REI my credit was 800-810. Now I have 10 that show up on my credit report and my score is still 760-770.

@Ralph Miller

Seems steep. For contrast, I pay $1.90/sf for glue down vinyl (looks like wood)...and an extra $1.50/sf if a sub floor is needed.

@Marita Jojo

For me, if the look and feel of the house is more modern and/or updated, I replace. The thing with new doors though is usually the labor to trim, install, mortise is much more than the door costs lol

@Ryan Spearman

Read or listen to Robert Kiyosaki's book "Fake." He talks about gold throughout most of it. Might give you additional perspective.

@Wendy Smith

Here are 2 questions I'd ask.

1. How much more $ out of pocket would another 5% be? (I.e. to go to 20%)

2. At 20% down, you'll have more cash flow. How long will it take for that "additional" cash flow to equal the that 5% extra you put down?

If the answer is many years, then the 3rd question would be, could you make better use of that money now if you kept it in your pocket and used it to grow. Food for thought.

@Cameron Riley

Depends. For example, in my county if the property is in a LLC, I need an attorney for the eviction. If it's in my personal name I do not need an attorney.

@Reed Lambier

I don't know what I dislike more these days, HOA's or the media. You are at their mercy, and their rules can change. I'll give you an example, I live in a condo personally, and after my 1st year they raised my fee by $50 per month, gave me a $6 000 special assessment for a new roof/siding that needed repaid over 3 years, and they just now stopped allowing anyone from renting their units.

@Kevin Cross

Obviously you're going to get varying answers to this question, but from what I have seen, many flippers do not have a W2 job. Because of that, they will flip a few properties throughout the year (in between their buy and holds) to supplement their income.

@Dale Miller

6-10% from what I've seen

@Tony Zhang

In that case I would not flip a house now. Instead, I would recommend spending the next 6-12 months (min) educating yourself. Keep reading BP, watch YouTube, read books, join your local REIA, talk to other investors, save money, study the market you're interested in, etc., etc.