All Forum Posts by: Ned J.

I'm in Manteca...have rentals in Lathrop and Manteca and looking to buy more within a 2 hours radius of Manteca, so Stockton is on my radar..... I'm interested in any meet ups and investment opportunities in that area...

Another reason that I think a lease sucks.... it protects the tenant WAY more than the landlord. If the tenant breaks it, good luck getting a judgment from them....if you win, you never see the $$. If you break it, the courts will almost always side with the tenant. Basically you pay him big $$ now or in court...or you ride it out until the lease is done.

http://www.kilz.com/products/primer?filter=elimina...

I've used the original primer the most.... it helps.... but again, if the drywall or wood is soaked and you can remove those materials, then do it.

The biggest factor that "gurus" like Ramsey and Orman stress is your level of comfort with risk. How are your other finances, other debt, stable job, good steady income, family counting on you? Higher risk can come with higher reward...but if those risks backfire how screwed are you going to be? Long term, can you weather a down turn or are you going to be hosed if the market goes down for a couple of years? Or one deal kicks you in the nuts and you lose a big chunk of $$....can you handle it?

The upside of paying down your mortgage early is that you can save a ton of $$ on interest in the long run. But you COULD make more $$ by investing it... the big part of that is COULD...... again, if you play conservative with your investments you make conservative gains.... go risky and you may make more $$ but can you handle the years when you don't?

Upside of paying off your mortgage early........ the house is paid for.... as long as you can pay the taxes, insurance and basic utilities, then you will never be out on the streets if you lose your job, get sick/injured etc. Its also an asset you can leverage via HELOCs etc.

There is no right answer.....if you like to play it safe, then pay off the house IF you can do it quickly. If making those extra payments only pays if off 5 years early, an until then, you cant get into other investments, then its a bad idea.

I started off doing traditional investments while paying extra on my mortgage...... our income went up and I started buying rentals too, while paying extra on my mortgage..... got a small inheritance....bought some more rentals. With my income going up and my rentals doing well, I was just able to pay the last 82k on my primary residence mortgage... its done.... could I have used that 82k to invest in something else that MAY have netted me more $$?...maybe. But I chose the safety and satisfaction and net interest saving of paying off my house. Now I'm planning on using my HELOC to leverage and buy more rentals. via the BRRR method.

My "traditional" investments were netting on average 6% over the last 7-8 years with some years complete **** and other decent. My mortgage was 3.5% 30 year fixed. When I looked at how much $$ I was actually paying for my house over that 30 year period, I wanted to vomit. It was pretty much double....

Its all risk vs reward and your situation financially and your goals. Risk may pay off big time or it may kick you in the nuts.... its up to you to decide what YOU feel comfortable with...

Cat urine will soak into the baseboard, subfloor, drywall etc....anything that has pores. You have to remove the effected material or seal it with Killz and other products....regular paint wont do it. If you had a contract to have the source of the odor removed and the contractor didn't do it, then that's a issue they need to correct. Find the source.... I would think tile would seal the floor pretty good..... that's a lot of thinset over a floor to lay tile right...... its likely the drywall/baseboard/wall studs/footer boards at the base of the walls......

Pardon my language but..... some people just suck!! Online reviews aren't going anywhere, anytime soon, but in reality they are complete BS unless the reader has a critical mind when interpreting them....and most people don't. With most online reviews situations, as the "customer" I can say whatever I want, however I want and there is very little the business can do about it. My accounting of the situation or interaction can be a complete lie...1000% inaccurate....complete ********..... and there is very little the business can do about it. In the majority of cases, you cant prove them wrong and you wont win a online "argument" with them, so you are just screwed......and the customer knows that and use it. Best you can do is encourage people to leave positive reviews to overshadow the a-hole customers and hope that people really analyze the review, nit just believe it all..

If I do more out of state stuff, I don't really want to do it myself...... that's why I'm looking at the turn key approach in other states. I'm fine with dealing with the local ones myself, but don't want the hassle and expense of trying to deal with the out of state stuff myself..... I have one in TX and its still been very profitable, but a PITA and I don't really want to multiple that......

I live in Manteca....work in Tracy......own a rental in Manteca and Lathrop..... yes, its no So Cal but its out of control here if you are looking at cash flow. I bought a condo 2.5 years ago for 160k, rents for $1400....cash flows about 350/month.... they are now selling for 260k and up.... with the HOA that's about $1500/month in payments..... and the rents aren't going to support that if you want cash flow.... they aren't going to rent for $1700-1800/month any time soon.....

My place in Lathrop....SFH...bought 4 years ago for 175k....values at around $350k now....rents for $1400...positive cash flow around 350/month....so again, the positive cash flow market around here has dried up a lot in the last 3 years. Positive cash flow deals in this area are pretty hard to find. The market is pretty hot and appreciation is likely to continue for awhile....but how long is any one guess. When it crashed in 2008 it hit HARD...... tons of people way way underwater on their houses.....

If you are a model tenant, I let it slide..... you get an occasional "free pass" if you are a great tenant in every other way for a decent amount of time. You pay the late fee and I let it go. But if you are a PITA and this is a trend, then I'm going to play hard ball and the eviction process is going to come way sooner. Be up front, no excuses, if you make a commitment to pay the remainder and the late fee by X date, then do it...no excuses.

@ali boone

Read your article.. thank you. I too am interested in getting into the turnkey market but have zero clue on who to use or where...totally new concept to me. My other rentals have been straight up " I buy it, I fix it, I manage it" and been more local....but CA is out of control again.