All Forum Posts by: Nate Wightman

might check to see if you have low flow shower heads.  this will help reduce the hot water consumption. 

Hi all... My thought is that the intent was from the heart.  The economics... @Account Closed I have been reading your comments for a couple years now and so appreciate your thoughts and advice. smiles. Nate 

Fun.  I think you will find it here that in real estate you make money with rents, appreciation and taxes.   So, as many have said here, one property paid in full will give you one LARGE rent, one appreciation, and limited tax advantage.  Five homes bought with same money will give you 5 SMALLER rents, 5 appreciations, and a much larger tax advantage (not an accountant here).  I also know on a duplex that getting money out in a refi. cost a lot more than a single family (my experience).  We love the duplex's.  So, with more properties you will get more headaches but also a compounding of your profits. I also feel that after doing this a while you will wish you had more cash in the bank.  Your neighbor will tell you of his mom's sister needing to sell her home to move to a senior center....:)   ah, but you own your one rental outright and have no cash.... crap maybe next time.

$1,000,000 in a cd in the bank (1.5% +-) ... very safe right now for your retirement will give you $1500 a month income.... 1 mil cash will give you $1500 a month.   so, if you want to retire with 2 mill dollars so you can have the $36000 plus social security so you can live happy into retirement with $50k..   ah   real estate :):)

 We are in Colorado... bought duplex down payment and repairs cost us $80k cash....  one side  pays the mortgage and bills and the other $1450 is income.   So, the duplex for $80k of our cash is returning similar to $1 mil in a CD.  yes, RE is not as safe but a similar income with only $80K

So, do you want to keep listening to the radio talker or listen to most of what they have to say and use your good financial wisdom to make up the rest.

My dad always said you won't get rich working with your hands.  Use your head. Smile lots and have fun..... you only get 36000 days on this planet.. enjoy them

Your city zoning should show all areas that are approved for a duplex. Sometimes the maps will even be online to look at. Once you find the areas then you have the potential to buy a SFH and convert it to a duplex also. Have fun.

@Juline R. try reading some of @Dorothy Ma posts... she is active in the Denver area.... our lot is now on low priority.. just got a duplex.... :)

Yes, legally they are bound to sell to us.  But, what recourse would a buyer have in this scenario ...

Bring them to court and sue their pants off.... they were in foreclosure (already lost pants).  Why do people with no wealth carry no liability??  Because they have nothing to lose.  I think I might be over thinking this.  thanks all.

Hi all, we have a property that is in foreclosure but still controlled by the seller.  We have it under contract. Question... what prevents someone from breaking contract and selling to a better offer if they have not much to lose.  Is this a deal we should go find cash to secure quickly or is it safe to wait for loan.... 27days :(

remember we don't "have to" we do "get to"

have you rented for 3 or more years??

you are 22 years from $ 25k  +- annual income

any way to add rentable value to it ... livable outdoor space, 

steam shower, new appliances or small kitchen redo,  AC ???

maybe try management for a while and see how that works

you may not clear 100% but the payoff would  be nice

and remember this is a really good problem to have

laugh lots

property managers do this all the time...

I would check with one in the springs and be sure then hire one and let them take over

as @Kyle Myers mentioned

could you rent it as storage ... does your town need any storage

or put an add in the paper  and see what comes out??