All Forum Posts by: Ryan Redmond

Sorry you can't join us this time, Michael. I don't plan on us only meeting once so there'll be other future opportunities.

No problem, @Hampton Scurlock. Does this mean we can expect you Wednesday evening?

Excellent! I may have another person interested as well, bringing the total number of people confirmed to 5, including myself. Anyone else interested should confirm asap. 

Every week would be fun and informative, but I realize that many may not have the time or are trying to lead more frugal lifestyles. I may be up for more frequent, but smaller, get togethers on a weekly basis. I definitely want to make as many friends who share an interest in this field as possible.

I'll be needing an approximate headcount for BJ's Brewhouse well before Wednesday at 7:30pm so I can make the reservation. Who all should I expect?

Welcome to Louisville, @Neal Bratton! Alright, I've selected a couple potential locations for the meetup: BJ's Restaurant and Brewhouse at Oxmoor and Holy Grale on Bardstown Rd. I vote we start with BJ's and see how that goes. I like the atmosphere, plus the beer and food selection is quite impressive; something for everybody. We can alternate locations periodically to see which ones suit our needs best.

How does next Wednesday evening (the 11th) at 7:30pm sound to everyone? I figure the worst part of the dinner rush should be over by then as well as rush hour traffic. That sound workable to everyone interested?

I'm glad to hear that so many are interested! @Pavel Reyes Valdes, I was unaware that there was already such a group besides the local REIA, but I'd be willing to join that too! The more people I can meet in this field, the better. :) And meeting in an actual rehab would be quite educational.

Before we proceed, I'd like to hear everyone's preferences on whether we should meet in a bar or coffee shop, because I have some possible suggestions for both but I'm of course open to other great suggestions. It definitely needs to be a place that could accommodate a decent number of people as we grow. 

Looking forward to hearing everyone's input! 

Hey, everybody! I was wondering if there were enough locals in the Louisville KY area interested in getting together to discuss real estate over a couple beers on a semi-regular (twice a month) basis? I'm aware we have a local REIA group already but this would be something smaller and less formal. I figure this would be a good way to network and just share ideas in a subject we're all passionate about.

Do I have any takers?

Really? Well that's good. I've just always heard that if you pay off a large debt early and in a lump sum that lenders typically didn't like that and your credit could be affected. Glad to know that isn't always the case.

That's actually a pretty good idea, especially since I just found out today that you can apply FHA and 203k loans on any live in property up to a four-plex. But I'm not really big on living in an apartment again. I know in this case it would be financially wise, but living with a few friends can already be stressful enough on my girlfriend and I. That is good information though and I'll definitely hang onto it. :) But right now I'm really aiming for my next residence to be a live in flip house (like my current one) but with a basement and garage. My renting friends will move with me to keep my payments low as well. I plan to keep doing live in flips every year or two as well. But first things first- pay down the debt.

Yeah, you guys are right. I'll start aggressively paying down my debts first. It's just tempting to jump right in because I have a talented real estate agent who is also an investor who would be willing to send some deals my way when I'm ready and a fairly wealthy uncle who I might be able to convince to be a private lender for me.

I know that paying down debt has to be done in a strategic way too so it doesn't backfire and negatively affect my credit (like paying off loans with a lump sum.) I guess saving to pay off my $5k in credit card debt shouldn't be too hard to accomplish before I aim to sell my house in the Spring. Kind of considering withdrawing money from my 401k to pay off my auto loan faster. I know that's generally considered a bad idea, but I don't plan on relying on my 401k for retirement anyway. I figure if it can get me out of debt sooner then it could be a viable tool. Thoughts?