All Forum Posts by: Tom Keith

@Edwin E. I have read all the replies to Your post and wanted to reiterate a few statements that are good. You need to talk to a professional Qualified Financial Adviser or Life and Health Agent. Your individual needs should be weighed not Dave Ramsey's or anyone else. Yes if you have a contract with Cash value, you can borrow money very cheap to use for REI. There are Many different plans available for young people. Your SGLI can or should be able to be converted to your own private plan without "proof of insurablity" That to me is a big issue. Term Life is great for protecting family and it is cheap for a period of time, but if you become sick or disabled and cannot get life insurance policy then you and your family are on their own. Yes I am an Agent for 28 years and have always found what my customer needs and my needs have never played apart in what was decided. I have both types of coverage because that is what I need. Now, find what you need while you are young and healthy and if it someday allows you to invest with it Great.

Thanks So Much for the information @Adam Roberts I will do so my research a little better. Thanks Again

Hello Bigger Pockets Partners. I have a beginners question. I am working with a partner and we have a possible deal to purchase @ 2 acres of land with a relatively new double wide manufactured home in one corner of lot.

Our idea is to purchase this, if the numbers work out for the right price and get a tenant into home for cash flow. Then, we want to build multi family homes 2-3 family units on property. There is no concern for zoning and it is in a good area of our back yard.

The question is this; should we consider building multi family untis on our first deal?

Thanks So Much,

Wow. I love these threads, you can learn from each person and it starts with a great post for newbies like me. Thank You @J Scott

Either way, Water is BAD. damage to property, Insurance Costs, tenants or owners will not be happy.

@Michael Baradell I agree with @Christian Morency Get a qualified contractor bid and crunch the numbers. The only way I see is breaking the slab to catch the surface water or removing it and re pouring correctly. either way it could be expensive. Good Luck

Welcome to BP @Cassandra Olivier I have thouroughly enjoyed being a member. East Texas by way of Choctaw Oklahoma

Tom

Hi Tim, I recommend utilizing a a Mortgage Company that can assist you with the Dodd Frank rules to protect your return, they can also advise you on qualified interest and rules concerning ballon payments etc. Good Luck.

Tom

I like Pat L. story, worked great and tenants appreciative. You might ask your tenant if he would have the Ocupation Therapist or his Case worker to call you with the kinds of adaptations you would need to do, and if there is a way the state or medicare can pay for them since he does not own the home.