All Forum Posts by: Mike Freske

@Kyle Shankin, thanks for your advice!

I feel that I'm not ready, simply because it's so new to me. I've been thinking about investing for sometime now, but actually researching and learning about real estate investments for maybe a month now. I feel like a have a solid foundation of knowledge, but I know for sure that I'm not 100% know it all yet. That what gives me the most anxiety at this time. I so want to just jump in, but I'm afraid that one wrong decision will completely destroy my desire to invest.

Hello. I feel like I am late in the game and felt beating myself up. I heard about real estate investing back in 2007 but I thought it is not for me. A month ago, I helped a friend who is a landlord do her book keeping and it opened my eyes to the gains and benefits of real estate investing. Now I am actively educating myself, networking and looking for deals. I know it is hard work and I am not afraid of work. I just wished I started real estate investing years ago instead of squandering money. I am in my mid 40s and I am motivated but can someone please provide some inspiration? I felt a bit discouraged because the houses that were going for $6,000 (needs rehab) in my area just 2 years ago are now going for $25,000. Anyone out there started in their mid40s?

@Jason D. Thanks for the reply Jason. I didn't do a great job explaining my thought process, it isn't that I'm assuming places with high property taxes won't raise them as much. In fact, I'm counting on property taxes raising pretty much every year no matter where I buy.  

I guess another way to over simplify it would be i'm thinking of the monthly payment as two parts: loan repayment  + taxes (forget insurance for now).  If I buy high on the loan repayment side, I leave myself more exposure to more increases in payments because I'm already high on one side and now the other side (taxes) went up too.  However, if I lock in a lower loan repayment then at least that is fixed at a lower cost, and then when the taxes do go up at least one half of the payment is "fixed" at the lower cost.  Does that make any more sense or did I butcher it even further?  The whole reason I am asking is precisely because I want to place myself in the best position possible to absorb future increases in property taxes. 

Fire was March 19. Insurance is still working on claim...State Farm. The lease - which they were in breach of because of 3 additional people living there without permission - states landlord is not responsible or liable, etc. I don't know any lease that would provide for landlord to provide housing if house burns down. That's why there's renter's insurance. PM gave prorated rent back, which is not the issue. The issue is the deposit and me having to remove their property. They were also in breach of lease because there was a torn up car in the carport area where fire may have originated..... they did not keep the property up per the lease.