All Forum Posts by: David Hurt

@Brian H. How about Set for Life by Scott Trench? It touches on real estate, but it is by no means focused on it. I wish I had adopted its concepts when I was 19.

I've been cashing my account out as well.  Moving funds elsewhere as they become available.  Defaults were just way to high and started having website issues.  I attempted to speak with their customer service, but got the runaround.  Best of luck to them, but I decided it wasn't worth my time nor money.

I request a credit limit increase twice a year on my main card.  They make it easy enough to do on their website.  Literally just click the button and enter my annual salary.  To my knowledge this isn’t a pull that even hits my credit.   Usually get a couple thousand increase each time.  I’ve just done that over the years and it has grown. 

I’m by no means an expert on credit.  Others are, no doubt, more knowledgeable, and I’m sure there are quicker ways to go.  But this is what I’ve done and it has worked for me.  

In the mean time, if you are worried that your credit utilization is too high you can always pay it off more often.  I say pay it off every month, but personally I get my w2 salary every 2 weeks, so I pay my card every two weeks.   Leading up to purchasing my last house I paid it off weekly.  ...I don’t know if that even mattered but it satisfied a concern I had and didn’t cost me anything extra other than a few seconds of time. 

Congratulations on getting married. 

You might be surprised how quickly your credit score will rise once you pay off the credit card dept.  Combine that with a couple other positive financial actions and you'll climb up.  So pay off that "bad" debt.  

Now, I'm personally a fan of putting all my usual expenses on a cash back credit card and paying it off every month.  Credit cards are a good resource for many reasons.  First off I like getting the cash back for something I'd do anyway.  I also appreciate the security I get from the credit card.  If my card is stolen/fraudulent charges, then I don't have any capital (only that credit amount) tied up during the dispute period.  If the same happens to my debit card, then actual money is tied up.  It is also easier to just pull out a credit card instead of having to deal with cash...I know some will argue that this ease of use is dangerous due to the potential to spend money that i don't actually have...but rest assured, my social awkwardness far outweighs my urge to spend money when I do make it out of the house.  

You have to be honest with yourself though.  Will you be able to pay the card off each month?  Can you control that spending?  If not, then I don't recommend this.  This rule is key, because if you pay interest on a credit card you lose.  But if this won't be a problem, then use one of your cards (if it offers cash back/rewards of your choosing), and put your usual expenses on it...pay it off...and repeat. 

As Fradel said, look up Dave Ramsey.  He has several videos on youtube, as well as his books.  Also read/listen to Set for Life from Scott Trench here at BP.  It will help get your feet firmly planted and on your way.

Per your instructions I'll vote "Cash", but read below too.  The answer is always "it depends".

I'll second the emergency fund option first.  Get that foundation set, including paying off bad debt, and dial in spending.  Then figure out what to do with your excess cash.  Does your employer offer any kind of retirement benefit?  How long do you have before retirement?  What unique circumstance exists in your life that makes everything we've said above invalid for you?

Everyone is different...hence why none of us are giving professional advice here.  

I'd recommend picking up a copy of Set for Life by Scott Trench.  It won't give you specifics, but it is a great starting point on your financial adventure....I made that sound a little cheesy, but I'll stick with it.  

What’s the likelihood of finding a tenant that will pay $1000 to rent a tiny house? I’m honestly asking. It is also my understanding that most local governments have minimum home size rules that present a hurdle for tiny homes, but hurdles are just par for the track.

Originally posted by @Cody Winter:

This was bs so my wife got involved, I feel bad for whomever was on the other line when she called ...

Is your wife  available for hire?  I could probably find a numbers for her to call.  :P  Glad things got fixed for you. 

My current primary residence is on one of the main roads of a large neighborhood.  It helps that my hearing has "adapted" to a life of loud music and gunfire, but the road noise doesn't really bother me.  My plan is to have this property as a rental down the road, and I've never really considered the road as being a big disadvantage.  I view the traffic as good exposure to my rental signs when that time comes.  And while kids in the neighborhood do play in their front yards, my plan is to create an attractive back yard to entertain/play.   

Originally posted by @Hadar Orkibi:

can anyone share information about these meetings?

websites or dates etc?

I can't attest to the Jacksonville REIA, but I do go to every St. Augustine breakfast with the REIF group. I've enjoyed everyone I've attended. Their website is listed below, and you can see when and where their meetings are.

http://www.reif-jacksonville.com/

Originally posted by @Jeremy M.:

I see many people freaking out about the interest rates on cards. If you're concerned about the interest rates, you probably shouldn't be using them. 

That is truth there.  I use a card for 99% of my purchases, but I've never looked at the interest rate.  Couldn't care less.  I've never paid an interest charge on a credit card, nor do I intend to start.  

As far as the original question posed, I get an assortment of credit card offers every month.  Some are cash back incentives.  Some are 0% interest promo deals.  I typically use my old trusty cash back card I've used for years, but I do occasionally take advantage of an extended 0% interest offer if I have a larger purchase that I want to stretch out over time.  I did this with a recent home purchase to keep from depleting my cash reserves.  Just another tool in the toolbox.