All Forum Posts by: James H.

Over-estimating income/profits and under-estimating costs.

Building capital

Should you find another agent? Maybe. Will any agent you get blow smoke about how "hot" "their" deals are? Probably.

It is your job to find good deals. It is the agents job to access the lockbox so you can take a look inside. That's how simple it is. Realtor.com is awesome and if you scan it everyday, you will see the deals pop up before your realtor's mls auto-emailer notifies you.

Since it's a garage, I'd probably just not do anything. I guess I'd have to see it. Got any pics?

Here is a strategy:

Get her to agree to a 75 year term. This way you die before the loan is paid. Think of all the money you will save!

I don't have a strict policy on pets, but have yet to approve a pet owner tenant. I feel better knowing there are not animals in my properties.

This is not a good deal. Maybe a 0 percent loan amortized over 60 years with no balloon would make up for paying 70% over market. But YOU might not live another 60 years! haha!

AS far a heirs, there are always heirs hanging out in the woodworks just waiting for their wealthy relatives to kick the bucket.

When using debt to acquire property, I consider myself to be a shephard of the bank's money. No more, no less.

Tom Goans,

So then tell the average guy who makes 30 to 60K a year and has about 5K in the bank how to get into real estate investing without using debt.

Give a rough investment plan with a timeline of goals. Show all of us debt free nay sayers how we can do what we want to do in RE without using debt.

Save up this much money:

Closing costs and make ready for the investment property

6 months mortgage payments for the new investment propert (banks will require this anyways)

6 months living expenses even if the top bread winner looses their job.

If she is still not willing to invest in RE, then forget about it or get a divorce.