All Forum Posts by: Jeremiah Dunakin

If your employer doesn’t offer a match. Really no reason to stay with them. Maybe easier on paycheck deductions and taxes. Going with a S&P 500 fund can be a safe easy choice. No stock screenings, no work, set it and forget it, exposure to a broad range of good companies and different sectors of economy. 

Quote from @Russell Brazil:

What if rates dont fall? What if next year, and for the following decade rates are 9%? Then todays 7% rate will look pretty good.

 Agreed there is not one thing pointing to lower rates. If anything signs are pointing to higher rates. Even if the basis points gets dropped a little it’s not gonna be a big enough change to make mortgage rates fall enough to make a difference. 

Doesn’t sound that bad. Look people got to make a living. He did a job that you didn’t or want to do.Figure an hour for round trip(time) 15/20$ in parts. Hour of labor and I think you came out all right. There are people here that would say ohh just do it yourself. I’ve done my fair share of gut jobs and remodels. Pulling a toilet sucks. It can be a toilet that is never cleaned. You gotta get the water out. You gotta dry it up. Picking up toilet can be heavy. Don’t sweat it you were charged fairly

I took out of my 401k to find my first deal. I’m glad I did. The 25k I took out I would have lost anyways. Now I’m paying myself back at better stock prices. I could be looking at it wrong. I also like that it was easy 3 minutes I had a loan. No questions no checks no phone or email tag.next spring I plan on doing same thing over 

I’ve seen rates go out of control the last 3 years. This 100% due to policy. Rates have been goin up almost 1.5% a year.There is no sign of slowing rates down at all. The feds have signaled that more rate hikes are probably comin. The US credit has been downgraded. Also due to current policy. The high rates and inflation are not goin anywhere. At least for another 1.5 years at best. People with a 2.5% intrest rate are not gonna sell and get a 7/8% rate and buy less house for more money.  (correct me with you got a 6.1% rate last week with no closing cost and a free cup of coffee) .This is causing a major housing shortage. Also the price of building new houses has at least doubled also due to policy. A couple years ago a 2x4 was a 1.79 all day long and a family pack of chicken breast was 8/9$. Those same things are are almost 4$ and 18$. Intrest rates are not gonna substantially come come down any time soon nor is gas food or building materials. One does not need a crystal ball to predict this. Factor in regulation on appliances building code and unneeded bureaucracy and you have an answer. As long as policy stays the coarse we will not see good rates again. In 3 years we have almost a true inflation rate that doubled regardless of what numbers say. What does your wallet say.

If you can get something in todays market that make sense then I would say go for it and hope rates go back down. However to wait for rates to become more manageable is a long wait period nothing currently goin on points to that happening. At best we can hope they only go up moderately or stay the same

I good deal is a good deal I suppose. A year ago intrest rates were 5/5.5. People were saying wait to buy until rates go down. Today rates are around 7/7.5. People are saying wait till it goes down. At some point (not saying you have to buy to buy) people have to accept the environment they operate in. While I don’t have a crystal ball. I can read. All signs are pointing to rates continuing to rise. The feds have signaled that they may not be slowing down on rate hikes. Add to the credit downgrades of USA, federal govt spending money like drunken sailors in Ukraine and also at home. Also making it harder for oil production which in turn will continue to raise prices of literally everything. Lumber will go up as will shingles, solar panels, electric cars, chicken, tires, pants, dog food. This in return will continue to have freeze in place. I said all that to say in my opinion (which is bout worthless) rates are not gonna drop anytime soon. The CPI will continue to be off the chart and true inflation( what we pay for everyday) will continue to be at 50% and higher compared to a couple years ago. I bet people were saying man I wish I would got in at 5.25 percent, I’m thinking people in a year or two will say I wish I would have got in at 7%

Quote from @Jim K.:

Quote from @Nathan Gesner:

Jim, most of what we see on the podcasts is Hollywood B.S. They are pitching stories to collect eyeballs and stay up in the ratings. I occasionally listen to podcasts and am still amazed at how the headlines never match up to the content. If you've read Pace Morby's book and then watched his "12 hours of bonus content" where he essentially videos himself saying what is in each chapter, then you'll know exactly what I'm talking about.

Real estate is hard work. It's ugly. Those that are willing to get their hands dirty and work hard are going to reap the rewards. Those that think they can buy a few rentals and spend the rest of their days rolling in cash will fail. Unfortunately, they will be replaced by the next sucker.

 Sadly, I have read Pace Morby's book. Ever more sadly, I paid money for the Kindle.

I have always felt that the BP forums are one of the few places where you can talk to people who have actually gotten it done, and where you can occasionally get an honest answer to a question that might be glossed over elsewhere. Without trying to pound my chest about it, my wife and I have made a lot more money in real estate in a much shorter time that I could have ever dreamed. You will never convince me that real estate is not a path to change your stars in America. We have invested conservatively, tried new things carefully, taken our lumps when we needed to, and discovered some wonderful people along the way. We have also personally seen REI destroy people, destroy marriages, destroy families. That's really why I post things like this.

Everybody I know who has actually accomplished anything in real estate will tell you that REI is not a get-rich-quick scheme. It's not a sprint, it's a marathon. Well, perhaps my favorite quotes comes from the famous marathon runner and trainer, Juma Ikangaa, "The will to win means nothing without the will to prepare."

I really, really hope these cautionary tales help temper unrealistic expectations about this business.

This is exactly what I needed to hear. I’ve listened to bigger pockets and am eternally grateful for them. I was also continually listen to them. However some of these guru book sellers just don’t resonate with me. I am not doubting them but I just don’t think it’s for everyone. We all are in different areas of life. 
These stories and experiences are real life and not just some cookie cutter brrrr just find a better deal just negotiate better just make sure it hits this or that number. I think a lot of times these guys are exaggerating the time they put in.that said it’s refreshing to hear real life struggles (hate to say that) of real life folks just like me trying to better themselves. Carry on fellow investors I appreciate you sharing failures and trying times with anewbie like myself. It gives me the confidence that I’m not alone in screw ups and dealing with issues. On to the second property early next year 

I have thought about the same thing. Sometimes I think that if things go good for me why not level up my lifestyle a little bit. Maybe be able to take an extra trip a year or maybe not scrutinize every purchase as much. It’s good to hear others growth

I guess I’m a simpleton. I would like 5/6 places paid off. I would like to bring home after expenses 6k a month.That would tickle me pink. I never wanted to become rich ( though I wouldn’t mind it) I just want to not worry about my next contract at work, or if I have a bad knee and need surgery that I will get behind. I guess simple financial freedom is what I’m after. I have one rental and looking at the end of year getting another. This forum has been awesome 

pay a property manager 10%