All Forum Posts by: Mark M.

Thanks for the feedback, everyone.  It certainly seems like a challenge since every yard is full of dirt or "fill".  After asking around, I am going to look into several options including creating my own clean dirt pile (free of sticks and stones) for future grading projects. 

Even clean dirt is money to the right buyer.

With the spring finally here, I have been working outside on my rental properties doing several things.  As a result, I have a pile of dirt, almost enough to fill a pick up truck.  In a way, they can be reused.

I wanted to ask you if you know of an easy way to get rid of such excess dirt?  Post a sign "Free Dirt" like you see with "Free Firewood" or what?  I never had to deal with this issue before and thought maybe some of you have a great tip on getting rid of it quick and free or cheaply as possible.

I change them myself.  After all, look at it this way, it's your investment, not the tenants.

Update 03/14/2015

So far two specialists came in and both felt it was not water damage but rather just old age.  They both felt it is easily repairable and came in at $1150 and $1200.  I do have another one coming in next week.  

As always, I welcome additional thoughts on this matter.  Does the price sound reasonable to you?  I do plan on a demo but not now due to a long term plan regarding financing in the next few months.

I know the feeling regarding the agent.  I tend to look at least an average of 20 properties, sometimes with my agent and other times, she gives me the code to enter.  A lot of times, I drive by and walk around before I decide whether to look inside.

Two quick questions.

Will the refinance include an appraisal?  

I know they have them for first loans but I do not have a clue if they do this for refinance. I don't know if they do this at the bank you will be refinancing with but are they doing an independent appraisal or an automated computer value appraisal (something my bank does as an alternative)?

Yes, sir. LOC as in Line of Credit and I use CC as Credit Cards in this situation. (It can stand for carbon copy or close captioning in other situations.

@Daniel Martinez That's great info on the score range.  It certainly took me by surprise that it is only a range of a 100 but better than nothing.  

Okay, then you are talking roughly 2K a month.  I presume this is after everything is paid which means applying the 50% theory of finding properties that can bring in 4K a month. Correct me if I am wrong (since the 50% theory applies to rental properties which can be passive if you are an investor).

My answer is just based on my experience and research. I am not a big league player with a 100 million dollar revolving line of credit. I do have a business LOC, business CCs, and a business loan, as well as personal LOC, CCs, loans.

They do operate on the same principle however they are treated separately. Other than that, really it's just a matter of viewing your personal credit and business credit as two separate entity (just like insurance, taxes, and everything else). 

What I have not figured out yet is if they have the same score range.   Maybe other BP members can chime in on this but I think you pretty much answered your own question.

What do you mean by solid passive income?