All Forum Posts by: Maurice D.

no real estate for you (for now).   focus on your career/work/training/primary income and also (if applicable to you), take stock on any bad spending habits.   from here on out, work on a cash basis, no credit.  learn to manage that and in a few years you will come out stronger.

if you are unemployed for a long period of time and have mountains of debt, you should consider bankruptcy, you can file it yourself.

also, they have a local forum on their website.   good info there from time to time.

no, they have monthly meetings, that tend to be infomercials but you can mingle and meet other investors.  at the meeting I attended there was a portion of it dedicated to showcasing difference vendors at tables (bankers, hard money lenders, professionals, construction companies etc.

also check out

http://www.dfwreiclub.com/

hi, I am restarting my RE investments, and looking for opinions here on my primary residence. 

I want to improve my cash flow, I live in a rental spending 1,500/mo on rent, I'd like to get my spend to less than 1K, 

I'm single, no kids so it's easy for me to move and I can get by with something small, but don't want Condos/HOA

I would also like to eventually house hack with a four plex, living in one of the units.   

my thoughts are to see if I can get into a fourplex, I have about 170K cash.   if that doesn't get me anywhere in the DFW, then my other option would be to buy a live-in flip and continue to save until I can get into a fourplex.

putting 20% down, puts me in a sub 180k range to get to a 1K mortgage included taxes.

I hear one can get a fourplex FHA loan, with as little as 15% down, but I don't think it would be good to be that leveraged on it to start with.

Thought?  what else should I be looking at?

what is the total outstanding on the loan? you would have to cure the default with cash.  (maybe hardmoney? not sure).

but if it is truly getting you 500K in equity? it seems like a good deal.  why isn't the owner selling it?

Nothing wrong with a heat pump in NC.  make sure the design is right (the right tonnage for the home).

I'd play with Geothermal, if I were doing new construction or a large rehab on multi-family.

a typical 1.5Ton unit will have a 3-4.5KW emergency strip for those days when the temp is well below 32F

I realize you passed on this deal, but for future reference there are some agents that do fixed fee listings, maybe approaching them for the comps and help would work? but I like the other suggestions, to just get to know your local title company.  

find partner(s). I'm also planning to make that leap with a good friend/partner and his friend. buying that starter multi-family will get us going and better cash flow than the SFR's.

I rather take cash/equity out of my nearly paid off SFR's than sell them, leave them cash flowing a bit, but you could consolidate them and 1031 as an option?

or.. you could always buy an in-fill / build opportunity and build your own :)