All Forum Posts by: Jeremiah Dunakin

Quote from @James Wise:

Quote from @Bruce Woodruff:

Here's my take, I believe you are missing some key points (or assuming incorrectly :-)

Put upward pressure on interest rates: Trump's demand that the Fed lower rates will have absolutely no effect.

I disagree. Presidents can, will and do put pressure on the Fed chair. They hire them and can fire them, it's not realistic to think there is no pressure on them. I say Trump puts his size 11s up Powells butt by this summer.

However, the implementation of tariffs, or just the threat of tariffs, is likely to influence rates, by impacting inflation numbers, and this influence may come quickly if prices for many common goods and services and raw materials rise

You are assuming that the typical view of Tariffs that we hear from the Dems and the Media are the way they actually work. If you listen to other economists, there are different views on this. And once the 'Reciprocal Tariffs' go into effeect, that's a whole new game. This whole Tariff thing should be short-lived anyway, I see little effect on the economy overall...

I personally believe it is unlikely that Trump actually deports millions of illegal immigrants who have settled in the United States. This, to me, seems impractical, and a PR nightmare.

I think Mr Trump will indeed deport 'a bunch', probably many millions by the time we are done, but certainly I would see the number in excess of a million, easy. He doesn't care about the PR either, the most recent poll saw 70% approval IIRC. The immigration was a huge reason he was elected.

Just my $.02.......

 This is where so many people on the left miss the boat. The negative PR he's getting for the deportations is only from the left. As Bruce said, his stance on deportations is a major reason why he was elected. Whether you are pro or anti deportation is one thing, but it's wild to me how many on the left fail to read the room. America has spoken and the left's PR stance on open boarders and immigration is no longer something the majority of Americans agree with. What MSNBC says about the deportations does not matter to the majority of Americans as they are in favor of them.

 Agreed, the American people voted for what’s going on. They voted and they voted overwhelmingly to do it. Like the man and his policies or not. The fact remains that his approval numbers are as high as they ever were. He is doing what he voted in to do. It’s amazing (I said this durning the last administration as well ) that people just don’t look at reality. They want to hate (sadly that’s where we are pure unbridled hatered) a party or group of people. Just look at facts. We see policy from both sides. Does it work? Yes or No. doesn’t matter who signs the bill. Does it work

My .02$ that isn’t worth .02$

People freak out about trump. We have lived through his first presidency. We seen how he is gonna move. People have their biased attitudes towards him and refuse to look at actual data or more importantly their pocketbooks. The same with Biden. It’s insane to me that people argue about it. What was price of everything for average man durning Trumps first term. What was gallon gas cost? Diesel(which affects prices big time)? What about a pound of hamburger? What was mortgage rates? How was your 401k? What was price of a 2X4 or a box of screws. What was restrictions like and how hard was it to do certain things? Was permitting easier or harder?Safety was it good or bad. What was your household tax rate/ not the 1% but your tax rates? How was jobs and finding a job in your area?

Take any bias out of your equation and don’t think about party lines and just ask yourself really how was life like under Trump under Biden and you can see really where are. Be honest with yourself.

I am no political or policy expert. I can throw up terms and buzzwords all day long. There is a reality that we have lived through. That’s the proof in the pudding. Not what Fox Facebook or the break table thinks, but actual 4 years as evidence. 

I’m not a guru guy and hate to hear the latest buzz word from bigger podcast. That said David Greene just gave a good analogy. He said cash flow is the blood of your portfolio. I wholeheartedly agree. Furnaces break roofs need replaced and plumbing needs repaired. Me personally I look at my rental as a business everything is paid for by rental. I save all my cash flow for a couple years. While paying down loan. I’ve got enough to cover a roof and a furnace.none of this came from my pockets but tenants. Cash flow is not the only factor in making money but a cash flowing property might be able to pay the expenses and up keep of two properties while one just appreciates. 

Quote from @John Morgan:

I've bought 5 houses by using 401k loans as down-payments. I've bought some houses with 0% interest for a year credit cards and a few with consumer lines of credit from banks. I use all the rental cash flow to pay these loans off asap, then repeat. I've also used a HELOC to buy a couple houses. And don't forget about tapping into equity if you have any. I bought 14 houses basically for free by harvesting the equity in my houses by doing 5 cash out refis. I use that cash to scale up and buy more cash flowing houses with zero $ out of pocket. That's how I've grown my portfolio of SFR without using hardly any of my own money.

 John I’m so glad to see others pursue this way. I have one single family rental now. I used 401k loan to get money for down payment and repairs. It is the best money I’ve ever spent. I can take two loans out and I am looking to do it again as my first loan is about paid for. I am paying original loan off two years early. Even if I do exact same thing I will have two houses instead of one to pay loan back. Again very nice to see others pursue this avenue 

First good job in addressing the issue. It’s not always easy to say you in debt. No shame in it.  Second I would do what I could to get rid of that credit card interest. See if you could apply for a zero percent balance transfer. There is usually a small fee like 3% but the amount you would save on interest would be more than enough to cover that one time transaction. Look at getting hyper focus on that credit card debt that is eating your money up big time on just interest. The 401k loan while it may stink at least you are probably paying yourself back(I think). Set a goal do your best to stick to goal, even if you fail keep going. 

Congratulations you are gonna do great keep up the hustle

I would say prioritize your life. Flipping channels on TV and Social media scrolling are thee absolute biggest time killers. People wake up and diddle around on phone instead of being proactive. Dont waste but redeem the time. My first rental was a gut  job on a 750 sq foot house. I was working 76-84 hours per week. I went in at 3am left at 3pm 7 days a week for years. At 3pm I went to rental property to drywall trim or whatever. It can be done. Gotta ask yourself how bad do u want it. Make a list of all the things that hinder you and set those weights down beside and take off. You can do it. 

Quote from @David Dobbs:

@Jeremiah Dunakin yeah but what does 'manage it' mean? Do you mean they need to do carry out the eviction themselves? that they over see an eviction? Are they also responsible for paying your mortgage from rent proceeds? etc. etc. ---- just a blanket catchall statement that they should 'manage it' is not quite right. Their management agreement should cover what they do and dont' manage, if it's not listed they probably don't manage it. But honestly it sounds like you are not willing or don't want to manage your properties but at the same time are also not willing to pay someone to manage it and I have news for you -- if you're not willing to do it or it's too much of a hassle or headache for you to do it ---- what makes you think they would do it for pennies on the dollar? 

You are making quite a few wild assumptions. I do not think it’s a hassle or a headache. Maybe an inconvenience once or twice a year. 

The very fact that you said that I’m not willing to do it is the most absurd unfounded thing I’ve ever read. You are just pulling statements out of the air to seemed enlightened. I remodeled complete rental myself. I lined up all contractors that was needed, as well as doing all doors flooring concrete trim painting cabinets etc myself.. I did this while working 80/84 hours every single week 12 hours a day 7 days a week. I take very good care of my rentals and treat them and tenants with the upmost respect. They are in great shape.

I run them like I run my house. When my air conditioning breaks at primary residence I do not pay someone to call someone for me. I look at AC and if I can’t fix it I call hvac. Same as refrigerator or ceiling fan. Do you pay someone to call an electrician at your primary house when your lights don’t work?

I have not had to deal with an eviction yet. When the time comes I will follow the local laws to do it. The process to start it is no harder for me than it would be to random Joe to start. I can google something just as easy as they can. 

If someone chooses to use a PM great. I just always get attacked when I say I think for local properties they are overrated for a smaller portfolio.people always say etc etc etc…… but can never actually tell me what that etc etc etc actually is. It’s like a politician saying they are gonna do this and that but never actually tell you how. 

Quote from @Tim Silvers:

Just got quoted $3500 for labor only for replacing the cast-iron pipes and replacing them with 40' ABS/PVC. Does that sound reasonable? Anyone know the cost of the pipes?

12 years ago I had 40’ of cast replaced to road with pvc. My yard was sandy. They had to dig a 12ft deep by 6 ft wide hole to replace. It was 6000$ then. Materials won’t be that much a couple hundred maybe. 

Quote from @John Morgan:

I self manage 29 and it’s easy. 10 are out of state. And I work full time. It saves me around 30k/year to self manage so it’s worth it. When something breaks, I text someone to go fix it. Pretty easy so far.

This is the thought I always have. I have one place 25 minutes away. I manage it. If there is a leak I look at it. I fix it or call a plumber. I always hear about how I need a property manager. I just can’t for the life of me understand why they should make as much money as me and I assume all the risk. If the tenant calls and says my door lock don’t work I deal with it nor I call a handyman.