All Forum Posts by: Account Closed

Sort of real estate related: make sure you're maxing out your retirement accounts (or that you start one now). I'm a big believer in index funds. Set it and forget it. Cut down on the amount of taxes you're paying by maxing out your accounts, and you should still have plenty left over for other ventures.

"set it and forget it"- Not great advise. If you aren't constantly watching your investments and moving money then you're just gambling.

House hack.

0 Votes

Originally posted by @Nicholas Weckstein:

Any one recommend specific pick up trucks or older SUVs. ?

3-5k budget.

Seen a few Chevy blazers that looked good.

And I’ve seen a few people on the post say that theirs a sweet spot for mileage. So I’m attempting to buy with below 120k miles.

Toyota 4runner. Most reliable SUV on the market and they hold their value like no other.

1 Vote

Originally posted by @James Martin:

Would that be any different than taking a cash out REFI and then putting the cash in a safe place (like a savings account)? Maybe the bank would do that for you, they could hold the REFI and they could keep the cash in their savings account. Would accomplish the same thing, though you would float a little more interest I guess.

I would like to have available cash on hand for another purchase.. I guess I could look into a COR as well.

1 Vote

I drive an 08 civic that was purchased cash (225k miles) and have a 2012 Ford F150 that has a 5k note on it (Put down a lot of cash). I Sold my 4runner that was owner free and clear.

I would never buy a brand new vehicle.. Always buy older used and generally pay cash.

My tenants drive nicer vehicles than I do..

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Hi BP,

I am under contract on a duplex located in Glens Falls New York. After I take ownership I would like to get a HELOC on the property once I complete renovations.. The value will be there when all is completed..

I feel like I have hit a road block- all the local banks around me really only do owner occupied HELOC's.

Can anyone recommend a bank with decent terms for a non OO HELOC?

Thanks,

Dylan

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Originally posted by @Joshua D.:

@Account Closed Wouldnt it be hard to say im a wantrepreneur? When i started with $15,000 and turned into $1,000,000? Yea your right this is a messed up thread because of the way you perceived me and took things.

Congrats, there you go boasting again.

A million? BIG DEAL- that’s not a lot of money. perspective.

Most wealthy people don’t go around trying to flaunt their 1 mil of non liquid cash.

1 Vote

Originally posted by @Michael K.:

@Dylan Mejo yeah, you're right.

On another note regarding"stealth wealth", how do you go about accomplishing that if you intend on house hacking in a 2-4 multifamily and your tenants are your neighbors?

Tell them you're the property manger

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oh, and to the OP- you are far from a humble person.. All it takes it a quick glance through your posts. For example, your thread about "Friends and family wanting to copy what I do" because you "Came from the bottom". Congratulations, a lot of people have and many will continue.. You should be MORE than happy to help them out, Give them advice, and help them learn but clearly you're just in it for yourself and the money. It's harder to hold onto something than it is to obtain it.. stay humble.

on top of all that you ask pretty basic questions about running numbers- ya know... the easiest part of real estate. Seems to me as if you're a massive wanttrepreneur.

Thread about talking finances with your father? he only makes 175k? Tell me again how hard you had it growing up.

1 Vote

What a dumb thread of a bunch of grown men swinging their D***'s around.

4 Votes

All Forum Posts by: Account Closed

Account Closed has started 4 posts and replied 173 times.

Post: Non Owner Occupied HELOC's

Post: 20 year old w/ six-figure income and no expenses. What to do?

Post: Do you lease or buy your vehicle ?

Post: Non Owner Occupied HELOC's

Post: Do you lease or buy your vehicle ?

Post: Non Owner Occupied HELOC's

Post: Contractors looking at it like there making me rich

Post: Contractors looking at it like there making me rich

Post: Contractors looking at it like there making me rich

Post: Contractors looking at it like there making me rich