All Forum Posts by: Jason D.

Skip Gilliam You're diversifying and that's what any good investor would do. You can obviously borrow from the ira or out a down payment on a mfr. it's all up to you as far as how you want to split your wealth. The RE portfolio in my opinion is safer and allows me to have more control. Also if you listen to the freedom number podcast and speak to your wife you will figure out what you're working towards and what you want out of life. I know first hand how a stressful job is burning a candle from both ends, so even if you get to the millionaire mark what's to say that you won't have hypertension or some other stress induced pathology.

How much did you spend to mail out the post cards? How much will one more month of rent cost? Why would you have to be in CT for whole sale to work? You can still take calls and emails while in FL. I would say just cut your losses and start over in FL.

Ya this is pure crap. She picked up the pipe instead of going to job corps to learn a trade. I would rather liquidate rentals and make them vacation rentals before I would have to watch my property go up in flames in front of me. The entitlement is insane and they feel their predicament is society's fault rather than the result of their own action or inaction.

Elena T. e I know everyone is talking about using the official time consuming eviction route. However, if I was the tenant I would be soiling myself and pulling all the punches to not get evicted because I would have no where else to go. I was listening to one of he podcasts and thought what if you gave the tenant $500 and hired movers. I'm sure the price would be similar to court costs and the Benefit for the tenant is that hey would not have an official eviction on record. For me I would look at an eviction as a life long black list or reason for ridiculous down payment or elevated rent. I have no experience on ever using this technique but I was wondering has anyone tried this or are there any flaws in this logic?

@Sharad M.

Thank you for your input. I have been actively seeking out people in my network to team up with. It really makes a daunting task more manageable when various skill sets are involved. 

I am a complete newbie but I would think the 60k and peace of mind would bring about less stress. Do you have any other property? Would the 60k be used for the purchase of another property? What are your goals at this time? Are you accumulating more consumer debt every month?

Sounds like you can just lowball and see where it goes.

Sharad M. I am in the process of saving for the down payment on my first investment property. I aspire to have a team one day much like yourself. Do you have any advice as to how to systematically setting up a more or less automated RE business? Is there profit sharing for your project manager I would feel that there would be greater incentive to get the job done with potential for greater rewards.

Thoai Han Flipping sounds great but I think for a newbie like myself I would want to build a team before I start flipping due to costs and time. I don't plan on quitting my full time job and flipping without a team would require me to do so in order to be efficient. I too am fond of the buy and hold and as the properties age I would liquidate and maintain a healthy RE portfolio. What do you guys think about this strategy?

Jeff C. I'm in the same position as you and the only solution I have is tapping into my 401k, Roth, or 403B. I personally have opted to just save 10k more. That's only 833/month so maybe you just need to wait before getting into REI.