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All Forum Posts by: Jermell Shavers

Jermell Shavers has started 15 posts and replied 293 times.

Post: Financial future for myself

Jermell ShaversPosted
  • Posts 295
  • Votes 159

@Ned Carey. I came to the decision I’m going to pay off my debts and just be debt free for awhile then invest once I save up again it’ll only be about about another 6 months before I can buy another property just a little extension

@Robert Stamper. I call tell your new to sec 8 you want to get tenant proof things think cheap hard tile no high end anything because they don’t work for it and don’t care base grade cabinets don’t even get a finish on them really I don’t even put handles on my cabinets in sec 8 house get all low grade everything and when they destroy it you won’t be so miffed at them because you didn’t put that much into it anyway this ain’t a flip it’s a sec 8 house.

@Nathanael Rojas I can tell you personally it’s most likely the time of the year nobody moves during the busiest time of the year. Ask yourself would you want to move in the cold and when family is coming in town probably not if yo think it will help lower your rent but it’s for sure this time of the year.

@Nathan G. My tenants get a nice habitable and safe house for Christmas anything else is not needed and they better hope their lease doesn’t end anywhere near December because they will receive a rent increase I’m not family I’m the landlord and honestly my money is important.

The only thing I have that is high interest is my credit card other than that a car loan is decent I could refinance if I should choose to do it. Its just the thought I could buy another property and use that to pay off my debts and after the debts are gone I would still have the income producing property.   but I guess ill just pay off all my debts and live free and clear I don't even have a mortgage anymore so being free and clear would be my best route. Thanks for the advice

@Robert Hood 13k in taxes normally it would have been sold at sheriff sale by now.. something else may be going on I cannot believe it hasn’t been up on the Sherriff’s sale. If it’s a 30k house and it’s been sitting for years with no water or anything the sewer line is probably deteriorated and who knows what else. Depends on how much work you can do yourself and if people Have been breaking in stealing things and cutting the copper out. It may be worth it if all the equipment is still there but you need all new major components water heater furnace etc

@Greg Miller This is who I hired I hope they drop my taxes to a reasonable rate on my properties

A. Should I pay off all my debts aka Car Note small student loan credit card debt ?

B. Buy another rental property and use the cash flow to pay down my debts faster ?

What would you do paying off all my debts would increase my credit score and allow me to take out a Heloc and let me save the cashflow from my current rentals and my job for the next deal. I just want to hear from the community and see what’s the best thing to do. I don’t know if this makes a difference but in 2021 I’m going out of the country it would help me a lot if this debt is paid off.

Post: Financial future for myself

Jermell ShaversPosted
  • Posts 295
  • Votes 159

A. Should I pay off all my debt and be debt free car note small student loan credit card etc.

B. Should I buy another property and keep all my debt and just make the payments ?

What should I do to be smart I do want another property but being debt free is something to consider ??

@Nick Rutkowski. Wrong wrong wrong.... don’t ever let anything be hourly !!! Listen hourly jobs take longer 🤦🏽‍♂️🤦🏽‍♂️. They will drag *** at all costs mainly a cost to you and your bottom line. A BID IS ALWAYS REQUIRED. It keeps things easy to manage and keeps money in your pocket and keep them accountable whenever they finish is when they finish and they still make the same so they typically finish quicker