All Forum Posts by: Manzell Blakeley

A friend recently introduced me to this "debt shredder" product, which they claim will do things like automatically structure your debt repayments (such as a mortgage) in such a way as to decrease total interest you end up paying. 

Has anyone looked into this specifically or other similar products? I'm assuming the creative debt repayment strategies themselves work (
13th month, etc), but for the cost of the software is not insignificant. Additionally, I am generally low on debt (no credit card debt, no car payment, no outstanding bills, high credit rating) - just my student loans (which will be forgiven with about another year and a half worth of payments through PSLF) and shortly my mortgage. 

If you have any experience with this industry or the 'advanced' payment techniques? Worthwhile? Scam? Doable without the fancy software they're trying to sell?

Hello - I just got under contract with my first property! It's a large (4000 sqft) multifamily brick home in St. Louis. It's a "fixer upper" and not in rentable shape currently, and the kitchen and bathroom are both full-guts. Additionally, there is a lot of floor to replace. Lastly, the walls are lath and plaster, although generally speaking, they seem to be in good shape. 

Since we're nearing "Full Gut" territory anyhow, I'm wondering if it's advisable to remove and replace the lath and plaster and replace with drywall. I'm also under the impression that lath and plaster does not typically have insulation and I'm very desirous of keeping energy usage down. I'd prefer to replace with drywall, but I'm just concerned it won't be worth the budget (and FWIW, the unit has very high 9'+ ceilings).

What have you guys done on your properties? 

What's happened is that all the amenities of the big coastal cities - events, restaurants, bars, etc - are no longer accessible. If you're going to be stuck in your house all day, people are realizing that it's better to pay $500-$1,000 for rent for 1,000 sqft in the Midwest rather than $2,500 in the Bay Area for 600 square feet, especially if work-from-home is going to be extended. Where I work (SF) they told us that WFH could be in place for the rest of the fiscal year (July 2021).

I'll be leaving my job in January and I've decided to get involved in real estate investing subsequent to that. Long story short, I'm looking to buy a BRRRR-able 4-plex and live in one of the units. While I'm eager to get as many ducks in a row lined up in preparation for that, it strikes me that it may be too soon to start making connections with agents.

To cut to the point: If I wanted to walk into a unit in Mid-February 2021, as a first-time homebuyer, when should I start getting with an agent? 

Hi - I'm just getting started in the journey and trying to wrap my head around the financing and cashflow elements of real estate investing. I've got a question about deals that look to easy to be profitable and wondering why, if it's such a great opportunity, is it on the market at all? 
I won't link to it, but the property I'm looking at is a 1909 brick building in St. Louis, MO of a kind typical to the area, going for $115,000. Two 1br/1ba units across 2,300 square feet, both currently leased and paying $550/mo each in rent. One of the units is on a 6-year lease, and it's advertised as turn-key. 

The drawback here obviously is the 6 year lease, meaning it will likely be a while before the tenants can be cleared and renovations can be made. But in the meantime, for your $23,000 down and ~$600/mo loan payments, you're getting a net cashflow of $500/mo, $6k/year on a $23k investment. That long lease is also guaranteed occupancy. You wouldn't be able to refinance but you'd net out your initial investment in 4 years. That seems like a great return for such a low risk. 

But given those same factors - why is it being sold? If it were already in your portfolio, wouldn't doing the minimum and just sitting on it be the play?

Thanks for your input!