All Forum Posts by: Kayla Jobes

@Tobins Tobins I’m still in pre-stages of F.I., starting with becoming debt free. 3 years and I’ll start to look for wholesalers. I live in Ames! They are out there. I just listened to an early episode of BP real estate episode 42. Check it out, it might really open your mind and help with advice! I also re-listen to episodes that are helpful to what I want to do particularly, as well as take notes.

@Jon Kelly our wedding and honeymoon costs combined are below $5k. That’s not much of an issue. We were supposed to get married this weekend, but we had to postpone due to COVID. We are prepared on that front, we are just saving more for next year now! As far as a hard flip I agree. We would rather start with a complete reno for $20k than start with an easier one at $100k though. We will take your advice and run though. More time will give us more money, less debt, and more time to learn.

@Caleb Heimsoth We are not upgrading. We live in a college town that typically has yearly lease specials with $300-$400 off rent, and bumps back up at the end of the term. Students (and is young established ones) move around every year to get the lowest rents. Unfortunately, because of COVID, there’s no rent specials on the entire city this year, and this is still the cheapest place to live within 30 minutes of work. We don’t have much of a choice. Next year, we plan to move into a $660 apartment when rates drop again. 👍🏼

@Kirk R. We cannot just move in with a friend. This would have been a situation where we would temporarily sleep on an air mattress in someone’s living room... our rent is not going up each month, it is a yearly increase from moving apartments. We live in a college city that typically has $300-$400 off rent lease specials, but they go up at the end of the lease. Because of COVID, and the lack of students in the city, no specials are happening this year and we are stuck with the normal rates. I will be taking your advice and sticking with our original plan though! We will be putting the money away for the future and paying down current debt. 😊

My Fiancé and I HAD a plan to wait 2-5 years to buy our first time home, and just be in a better financial place (paid off credit debt last month, working on his student loan and my personal loan. Gotta love 18 year old mistakes). We are getting married and going on our honeymoon next year and have started funding for that as well as our first home fund. We are funneling $900 away per month for that. Our current rent is $880 with all amenities, and we are moving to a new apartment for $1,200 per month with all amenities. A quick sale house has come up. It will need to be completely gutted and have new roof, gutters, probable finishing of a basement if it has one, and yard work as well. We had a plan to have our first home be a rehab JUST like this, and live with a friend while we rehab to be habitable, then just take it slow from there and be a live in flip. We could easily put away more savings, have a tenth of the cost for a mortgage (we don’t have the full $20k), and flip significantly with all the freed up cash from not renting and pay it off in a couple years. We have no flipping experience and this would be our first home/live in flip/ investment. We have a realtor picked out, and know a couple contractor friends, as well as a family friend we could use as a private lender should we not qualify. We also have credit scores above 700, but don’t have much savings. Should we take the plunge???? Please say why either way. 😊

@Carl Fisher, I was hoping people would understand. I have a full understanding of all of my *investment* options. I'm wondering *what company* to transfer them to. They don't just float around. You can buy an IRA from thousands of entities. Stash and Acorns are *who* I currently buy stock through. NW Mutual is *who* I currently have life insurance through. What I'm trying to figure out is *who* has the best reputation. I'm not sure how else to phrase it. I hope this clarification helps! You seem very knowledgeable!

To give a little background, I invest through Acorns and Stash, have a 401k through work, 2 Roth IRA's and life insurance and disability through another company. It's getting ridiculous and I'm just ready to have a trusting company to transfer it all to, and invest big through. Again, not looking for individual stock advice, but the entity to get them at.

I’ve looked everywhere and can’t find the answer to this question: Who is best to invest through? I’m not referring to individual funds, I’m referring to the company that you buy them through. I currently use penny stock apps, and am ready for bigger play.

@Nathan G. This is a very one sided thing to say. Most of us “low income” workers are living paycheck to paycheck because we have too much debt. (Ie. student loans for me personally.) The stimulus check is a one time thing, and people across the globe have lost their jobs completely. It’ll take a lot longer than one paycheck for those people to find jobs and gain financial stability again. I absolutely agree with the fact that a strike is unnecessary and greedy, but for those who don’t have any options... are you really willing to be one of the big bad guys that just say “Oh well. Pay rent or gtfo”? I think there should be rules in place for those who have legitimately lost income completely from this virus specifically, and a no-tolerance policy for the rest whom are trying to benefit unjustly.

@Salvatore Lentini I make $40k before taxes, and have $50k in debt, & only $1k in savings. That’s all holding me back, but I know the steps I need to take: build emergency fund of 3mo expenses, pay off debt, get a 20% down payment saved, along with 10% maintenance savings set aside, then I’m going to buy a foreclosure (with LOTS of research and the propers steps to make sure it’s a good deal and flippable), and live in it for a couple years before renting/selling! It’s going to be a hard few years, but I’m only 24. I’m hoping to be able to get my S.O. on board, then it might shorten the time!