All Forum Posts by: Michael Kay

Congrats on the win, @Sean Rooks!!

The ARV always terrifies me. I want to do a flip for sure but me not knowing how the ARV could be calculated always worries me.

Purchasing MFH is exciting because it's always nice to get 4 rent checks instead of 1. :) The one nice thing about MFH is that the interest rates are fixed for 30-years because they're not commercial. 

The most important question to ask is: what do I want, and why?

Do you want to retire early or do you want to have a nest egg that appears to you in 20-30 years? Somewhere in between? Do you want to amass a large real estate portfolio and grow it indefinitely?

First thing's first, you really buy places that will positively cashflow, even if it's not great. Never lose money on a property every month and hope that increase in value will save you.

There are quite a few reasons to buy a place & hold a place to make money

* appreciate with the market

* force appreciation with upgrades (BRRRR or flip)

* Cashflow with large increases in rent

* Cashflow with small increases in rent appreciating with the market

There's probably more but these seem to be the biggest ones. Those are your options and they all have different goals and requirements for work on your part. Which one appeals to you the most?

The way to pay for Universal Basic Income (UBI) is possible, even today. @Wes Blackwell, I totally agree. 

There are many ways to pay for UBI and it's distressing that very few people here have looked into the mechanics, and different kinds of UBI. Things like negative income taxes, pollution credits, re-directing welfare programs, taxes on the very most top income earners, VAT on financial transactions, etc. There are a lot of places. As for the comparisons to 'socialism' keep in mind that the roads and freeways we share, the fire & police departments, the military -- all of these things are nationally funded and in the past used to be private. We can agree that sharing the burden is more beneficial to society. 

Ultimately, I and many of you here are Patriots. We love our country, we love what it has done for us and we only want to have it get better. UBI is making sense to some of us and not others. Let's keep things civil and respectful.

As a final note, we should consider the last major redistribution of wealth during the spending of WW2 created the middle class we now know. Things like retirement, home ownership -- all of this can be attributed to government leadership. Some of this adjustment was fine tuning banking laws, some of it was major such as major shifts in incomes and job availability.

If we have the courage of our convictions and the love of fellow patriots in our hearts, there's nothing we can't do as a great nation, the GREATEST nation to have ever existed, when we work together. <3

II can see from the pictures that it really looks like the bathrooms and I guess what looks like a dinner or a living room needs a lot of rehab. The ceiling is gone in one and it just feels like it's going to need a bit more rehab then what you have.

One thing you could do is buy a MFH, four units or less here in the Bay Area, rent out the other units, live more or less free  and take your old rent money and invest out of state.

I I had a good experience with PMI Indy. the property I wanted to buy fell through but I had a good long talk and I would have picked them as my property management firm

@Twana Rasoul That was the strategy I was thinking was most reasonable, for sure.  I swear I'm not a time waster, that's why i asked first. :)

It's been explained to me that REI is a numbers game, and writing lots of offers is part of that. One strategy was to aim to write around 100 offers every month or two.

My question is: Wouldn't a Realtor get tired of me asking them to write offers all day every day for just 1 deal to come through?

The that sounds similar to a startup called ribbon. The idea is that ribbon will make a cash offer on the house and then you pay back ribbon. Sadly they don't operate in California

Hi,

See subject.