All Forum Posts by: Jay Ritchie

@Dion DePaoli  Thank you for the time and effort expended here in this discussion.

The level of detail and experience you have shared is pretty incredible. Thank you for your willingness to share.

Thanks @Mark Vejnar

@Mark F.  Interesting...  so how is the value of the house set? Current appraisal? or the value of the house at the time of the RM? In this case Rm is dated 2011.

In cases like these, what at the factors to look at. Total owed, ARV, repairs needed.

Anything tricky about it?

Had an opportunity drop in my lap 5 min ago and I am working on the particulars (amount owed, etc).  Apparently the reverse mortgage was started in 2011...

Welcome Justin,

You found the place to get started.  Find the Bigger Pockets Ultimate Beginners Guide for the basics. That will layout the whole landscape for you so you can decide what interests you and where you want to get started digging deeper.

Then start listening the the BiggerPockets podcast with @Joshua Dorkin and @Brandon Turner.  The episodes cover all aspects of Real Estate from beginner to very experienced.  Pick some topics you want to listen to and start there.  Then go back and work through all of them (a podcast player that will play back at 2x helps). TONS of great info there.

As you learn, ask questions or use the search here to read up more on areas of interest.  There are a lot of good folks in the Dallas, Texas area on here as well. Take some folks to coffee. Keep learning and working and you will  find the help you need at the time...  This whole place can be your guru and mentor...

Welcome to the beginning of the journey.  Just keep taking one step at a time, and move to your future.

I had friends with a house where the master bath also served as the guest bath on the first floor.

It always felt awkward using their bathroom at social events at their house...  any way to change it?  

Any place to tuck in a 1/2 bath for guests? With two other bedrooms on that same floor, you might re-consider not adding an additional bath. I would think that most would prefer a master suite to have its own bathroom.

It might pay for itself down the road.

Welcome,  you are a couple days behind me in joining so don't worry about how much everyone knows.  This is a pretty cool community of folks that can help with any level questions...

Dive in, interact, learn and most importantly DO!

@Frank Gucciardo Thanks for the updates. So often the final story never gets told.

Interesting to play "what ifs" and "if onlys"...  

Interesting that the option to the restaurant owners never came up.

Good luck on the Tri-plex