All Forum Posts by: Marcus Johnson

The economy improving is a falsehood. When a government spends more then they make, it's like putting everything on credit and continually raising your credit limit. I call it a fake economy. The ballon will burst again and those of is who are in a strong financial position will weather the storm.

Which is good for an investor that has capital and is buying. Bring on the foreclosureS again. I want a deal. The fed has been printing so much money, which brings down the value of the dollar. We need a correction soon to weed out the weak who have no money.

Buying a property and having no money for rehab cost is a dangerous game to play. Can you sell this property and get out?

To me it matters more how much debt they are carrying around. I'd rather take a tenant that doesn't borrow much money at all with a lower income then someone who has a ton of debt and makes a higher salary. I find that hose who carry a lot of debt don't live within their means. Pull their credit report.

@Christian M. Not many people can say their primary home is only 20% to 25% of their net income. Unless you have a bunch of car payments or cc payments, you should have a lot of disposable available to invest. If I was in your situation I'd save up for a 25% DP on your next investment property. Normally I'd say pay down your mortgage to get rid of the PMI, but you have a long ways to go on that being 50k.

The star and tribune had a good article regarding this topic in the Twin Cities.  It found through it's survey's and percentage of homes bought by generation, that the Millennials are some of the best renters in the Cities for the following reasons:

1.  They took out to much on student loans

2.  They want to use public transportation and thereby need to be close

3.  They like to bike and not own cars.  

4.  They want to live in the city, close to stores and restuarants.  

* Before this study came out, my thought was that since Minneapolis has been rated #1 in number of people biking, I figured I buy my duplex that is in a clean, affordable, trendy, low crime rate and close to public transportation type neighborhood.  South Minneapolis is where I bought my duplex and it is rented by a 29 year old male and a mid 30's married couple with no children.  

What percent of your net income is your new mortgage payment on your primary including taxes and insurance?

I'm pro 401k, because of the employee match which is 6.75%, but it isn't my favorite investment due to the fact that I have less control over the outcome and the fees are generally high. I prefer Roth IRA, because the expense ratios are under .05% and my index funds have generated 18.7% in the past six years and average 11% over the past 15. I also love the idea that I just contribute money and do nothing at all and it's tax free at withdrawl time. I also love REI and have a duplex that is rented with tenants and cash flowing me $400 a month, but the one thing about REI is that it requires a ton of upkeep and if suddenly there is a major problem that you didn't expect or a roof that needs replacing it eats into your return more then any other investment.

Ian Hoover they are worthless an are impossible to get rid of. Don't even consider.

Post an fake ad on craigslist and see what kind if response you get.