All Forum Posts by: Mimi Booker

Originally posted by @Steven Tawresey:

 I am interested in seeing:

Cleveland, Pittsburgh, Columbus, Cincinnati, Louisville and Indianapolis.  

Said no one, ever...  LOL

$100,000 is certainly NOT total financial freedom as you seem to think. I assume you are young and single (i.e. No family, mortgage, etc.)

Originally posted by @Josh Caldwell:

Why make it so hard on yourself.  Learn to buy with creative finance and start buying now. You dont need any cash to buy property.  That is the truth, well you might need a thousand or less for closing costs but thats about it.

You are here on BP where you can learn all that you to start buying NOW

 OK.  I've got 10k to invest right now.  But I honestly have no idea where to start, and your post makes it look like all we have to do is read it here on BP.  But where in the thousands of posts does something like this appear.  You say "creative financing".  I say: In layman's terms, why not give us an example of what to do from beginning to end.  I feel many of the posters on here just like to say "read about how to do it".

So of course I called my current plan administrator and was told "no".  

I've read through the other solo 401k threads but so far I haven't found an answer to my situation.

I have a current 401k plan through my full-time employer.  I also have a small business on the side as a sole proprietor.  Can I rollover the 401k with my current employer to a solo 401k that I start with my business?  Or can you only rollover from a 401k from a previous employer?  

Thanks to everyone who replied to my earlier question about repair costs.

Sorry for the newbie question, but a few of you mentioned the city "let it go" or accepted your "offer" for back taxes for these houses. Are these advertised? I assume they were not auctions since they took your offers? Where does one look for these? I own 1 rental house in Houston, and now I'm hooked!

Thank you everyone, I feel better at least knowing I'm paying "market" rates on the repairs. I think I'll hold off on the warranty too since I did just replace that water heater and the condenser fan motor.

Seeing how this house is now 10 years old, would anyone recommend buying one of those home warranty plans?  (American Home Shield, etc.)

I'm worried that I may have a large A/C replacement in the next few years.

I am a new landlord with 1 single family residence in Houston, TX which was built in 2005.   I just had some maintenance & repairs done to the house:

- $220 to replace A/C drain pan and overflow plug.

- $85 for a "Spring A/C system check".

- $1050 to replace a 40-gallon hot water heater (in the attic).

Last year:

$ 450 to replace fan motor and capacitor in Condensing unit outside.

How do I know if those are fair costs?  I am an accidental landlord (moved before I could sell the house, have decided now to keep it as my first rental unit) and don't know where to start when it comes to maintenance & repair issues?  I feel like those prices were pretty high (except for the A/C check, which was long overdue).