All Forum Posts by: Jacob Vincent

Congratulations!

@Blake Alexander congratulations!  

It is success stories such as these, and the amazing price (FREE) that keep me coming back to BiggerPockets, even though @Joshua Dorkin beats up on @BrandonTurner on every podcast. (Still hilarious though)

If the seller uses Square or another 'alternative' credit card transaction processor, then they could take credit card.  

The only risk to them would be if you were to then file a chargeback by calling the credit card company to register a fraudulent transaction.  But with all of the other legal paperwork required to make the purchase, the likelihood of you doing that would be slim to none.  

Maybe if you offered to pay the transaction costs (can be as high as 2% of the deal, plus a flat per-swipe fee) then a seller might be likely to start taking credit cards.  

It would probably be easier if you had one credit card with a $50K limit to hold both the house and renovations.  (or maybe not, I'm not sure)

It's always better to move to something than to move from something.  Why? Because once you're away, your motivation disappears and you're in a "okay, now what?" phase after the honeymoon period subsides. 

Every day that I look at potential investment properties, I think to myself "Darn, I could buy this place (either in cash, or with a mortgage that I can pay off within 2 years, and be able to stockpile my salary until the next job move." Note: I work a job where I have location flexibility as long as I'm near to an airport.

In the short term, given my personal situation, it makes sense for me to stay in NorCal (even with the exorbitant rents and pocket gouging tax rates).  In the long term, who knows?

@Amanda Sutherlin Congratulations! Your post is inspiring to an aspiring investor.  

Hi folks, 

I live in Sunnyvale and am looking to jump into real estate investing.  I'll be going the out-of-state buy & hold route.  I've been binge-listening to the BP podcasts, and will spend quite a bit of time researching (while targeting my first purchase by the January '15).  

Wish me luck!