All Forum Posts by: Gary Dayton

They Refunded my money!  Phew!  Less Costly lesson learned!

Well I blocked my card but Pending charges aren't affected so they still went through.  Their QA person called me back.  No Hard Sale tactics as I had anticipated.  He then asked me why I wanted to cancel.  I said I misunderstood the purpose of the 3 day deal and didn't think there would be calls for additional money and training.  They said "Ok" and then mentioned there were stand alone courses I could take and they would like me to consider them.  Afterwards they said my refund would come in 5-7 days (it states that on the Cancellation Policy on the paperwork).  We'll see what happens!

Bleh!  Wish I would have looked this up beforehand.  Attended the one day deal....thought I could resist the scam and BLAM...now I am trying to get my money back.  Called Customer Service and they said a "QA" person will call me back to help me with the Cancellation.  I sense more hard sale tactics coming on.  I might have to use Bigger Pockets' name to get them to leave me alone :)....I feel like such a schmuck...but at least I can absorb the hit.

My goals are:

Develop a method to evaluate deals that doesn't over analyze but gives me a good view.

Find a home that won't rake me over the coals when I try to sell it in 18-24 months.

Find a way to convince myself that everything will turn out ok even if I have to rent out my place and break even.

Thanks for the info Jon. Now my head hurts! The link didn't work but I fogured out 20% another way.

Homes have not fallen as bad as in some places. It may be the desired location SLO countyhas and the booming Wine industry.

Where would you get the '00 prices from? I am hoping there is a website somewhere as I'm overseas (England) atm.

I have a pre approval for an OO 100% Mortage through USAA Federal Savings Bank. I called yesterday to ask about getting a pre approval letter for an offer I'm going to make. The woman I spoke to said even though I have 100% financing, they will require 5% down if the appraisal shows it to be in a declining market (which supposedly 9 out of 10 homes are) even though I would be buying the house at 80% of FMV!

Is the market really going to tank 20%+? Who knows but then it would be at FMV anyways.

I'm a first time buyer with very good credit for crying out loud. Do they want to ruin the market even more?

You know, this is an element that never even crossed my mind.

If the house doesn't sell, just turn it into a haunted home and charge admisssion! Ask Fodor's or Lonely Planet to put it in their tourist guides :lol:

But the grandma and boy thing is kinda freaky. I got chills! :eyes:

Hello there fellow Californian!

Wow....I don't understand where you found a deal like that in CA!

But the 2% rule shows $2100

$815 (Mortgage Pymnt of $630 (ish) 6%, Taxes of $105, Insurance $80 ish)

$815 + $837.50 (50% of rent)= $1652.50
$1675 rents-$1652 = $22.50

If you keep maintenance costs down to $837.50 per month you have a cash flow of around $22.50 = $5.62 per unit?

And depending on the Laundry income you can beef it up some.

Honestly I don't think the 2% will work in CA but if my figures are correct then you have cash flow :D

The formula supports that taxes are 1.2% of the purchase price for a year. Divide by 12 and you can estimate the monthly cost to add into your P&I.