All Forum Posts by: Account Closed

@John Moorhouse There are a ton of responses here so if this has already been said, please forgive me. I "left" high school at 16 by taking a proficiency exam (comparable to a diploma; not a GED) which was available in my state. I was also motivated to do so because I wanted to get a head start. I ended up going straight to a jr. college at 16 as a sophomore because of AP classes I had taken in high school, and I never regretted that decision. All that said, you need to really think about the classic high school experiences you will miss by leaving school early.

If there is no proficiency exam in your state ignore all of the above, for reasons which have probably been repeated ad nauseam (and rightfully so).

She should pay rent- just an investor's perspective. ;)

In all seriousness, it might sound a little "cold" to ask her to pay rent straight up, but I don't really think anyone (man or woman) should have a free ride. I think you should frame it in a way that explains the ongoing cost of property ownership (including whatever % you will be setting aside each year for capex), and that, without her, you would be collecting rent from a roommate to help cover those expenses. Come up with whatever her share of the expenses would be. If you really want to feel ok about it, you can compare that number with what you would have charged a roommate. The difference between those two numbers would be the "profit" you are leaving on the table (assuming you could get more from a roommate). My logic here may be a little convoluted considering the property is a duplex and you're house hacking but this is what I would do in your shoes.

(It's worth noting that you'll need to have her sign some kind of rental agreement for legal purposes.)

Buy it. I would relish the opportunity to add exorcisms to my list of value-add tactics.

Hi all,

I am interested in starting the process of buying MF in KCMO and am looking for real estate agents who are willing to work with investors. Do you have someone you’d recommend? Any referrals, advice, etc. is much appreciated! 

Hi,

After a few months of analysis paralysis I've finally narrowed down KCMO as a market of interest. I would be investing out-of-state though I plan to spend a few weeks there looking at properties and learning the area if everything pans out. I'd love to know if anyone from the area has any recommendations for wholesalers or investment agents or just any insight on the market they'd be willing to share. 

I bought the "Millionare RE Investor" and ended up returning it shortly thereafter (I had a kindle version). I think it is probably a great motivational book but if you're looking for practical advice I'd read "The Book on Flipping Houses" by J. Scott. 

My thought is to move and invest my $ elsewhere and come back when I've got 5 million... But easier said than done. And there's the likelihood that by the time I've made 5 million the city will require 10 to live really comfortably! 

It sure isn't! I live modestly here in the city despite owning my own (small) home... I don't have a ton of expendable income. A million here is not much at all. It's still hard to wrap my head around the fact that a million dollars makes you a very wealthy person in other parts of the country.

@Nicole (Dunlap) Pendergrass I loved reading your story... thanks for sharing! It's great to read true success/unsuccess stories so that us newbies can get a realistic sense of what's in store!

Hi Jae,

Thank you so much for taking the time to comment on this thread. I'd love to connect with you. I am going to send you a colleague request so that I can send you a message.