All Forum Posts by: Damaso Bautista

Hello Randall, I love this question because it makes you think.  For me it depends on the situation your are in and the goals you are trying to achieve.  The answers in my opinion would be very different for someone in their 20's,30's, 40',50's, marital status, kids.  There are so many different things to consider.

For me personally it is whatever i can convince my wife to agree with.  I just know from experience that if you are willing to sacrifice the lifestyle ( living in an A neighborhood, with A+ schools, and A amenities) the more money you will have to continue growing your portfolio and making money.

Now If you and your wife are looking for a certain lifestyle then I am in the Happy wife Happy life club and so far it has worked out so far (33 years).   Find the plan that works for you and your wife. A happy life is better then all the money in the world.

Good luck!!

@JB B.

I kind of have the same sentiment as @Scott M. in this post.

My take is if you are not reporting the tenants who are paying on time to help build their credit score, then your actions are purely punitive and may actually work against you if this were ever brought up in any future litigation.

My 2cents.

Good luck!

@Nick Anderson

I think one issue with your line of thought is that it appears that we are at the top of the market right now.  If you are ok with that then I would say buying for long term appreciation 20 to 30 years would be fine, but betting on the crazy one to two year appreciation rates that we have seen recently is very risky.  

If you are ready to be patient then go ahead with your plan.  If you are planning on collecting your appreciation quickly I would think your plan through a bit.  

Just my thoughts!

@Steve Pickenpaugh

This is the perfect post for all the ones complaining there are no deals to be found.

When someone says there are no deals, I personally think of the poster, if there was one sitting right in front of you would you buy it or are you just complaining to complain.

Your post validates my thoughts lol 😂

@Matt Lyons

This is one is the best posts I have read here on BP.

I 100% agree that being the hardest working person in the room is will get you farther in life than any other factor.

@Marcus Tam

That is a great neighborhood and part of the Wiseburn School District which is one of the best school districts in the area. The houses in that area will continue to hold their values and have appreciated greatly like all of the South Bay Area.

If you are getting the home at market cost you are paying a lot of money if you are getting it off market at a discount it will be one of the best investments you will ever make.

PM me with further questions if you have any.

@Suzanne Ludlum

I 100% agree with you on where I stand on this point.  I also know that life is not linear and there are way more factors into life decisions and many different perspectives.  

Life does not shape to my personal perspective but I feel it would be wrong not to give this young person a different perspective to consider before making a decision on the matter.

It doesn't matter how each one of us feel personally about the matter but all of our different perspectives may give this young person some insight to help him make his.

 @JD Martin @Account Closed

This scenario sucks all the way around for this kid.  

Like JD said I would never put my kid in this situation.  I also have my finances set up in a way that I don't believe I will ever go bankrupt either.  

@Dylan Salem

Hey Dylan this is a tough situation all the way around for you. I will answer it from a different perspective then the previous two responses.

Ask yourself the following questions and you might look at this differently:

Who is paying for my college education?

Who is paying for my rent and has been doing so for the past 18 years?

Who is putting food on my plate and clothes on my back the past 18 years?

What would happen to me if my parents completely cut me off financially right now as an 18 year old college student?

If you analyze the situation you may have way more to loose by not helping your parents out.

I would never put my kids in this situation but if I was down on my chips, I hope my kids would consider helping me out based on what I have done financially for them.

I hope everything works out for you!

Good luck!

@Blake Jennings

I think it would depend on the role you are playing in the scenario.

If you are just showing them the area out of the kindness of your heart then they need to come with what they want out of their visit.

If you are trying to sell them something the come prepared with your sales pitch.

There are too many scenarios to cover in your post.