All Forum Posts by: Nic Sherman

All I know is neither side is totally right. We shouldn't be allowed to take over buildings that are not our own private property. The federal government has to much power. The state government is dependant on the federal governments wellfare so it won't take a stand. The counties are dependant on state wellfare so they won't take a stand. The people are to dependant on the states wellfare so they won't take a stand. 

What was set up to function as a bottom up system has somehow been reverted back to the top down system that our forefathers fled from and best back.

God help it right itself or make me dumb enough to tolerate it.

I'm buyung a dump... I mean a fixer upper... I mean a distressed property. 

I bought it on an online auction and I'm paying all the closing costs. It's in an old established part of a town I know well so I'm not getting a survey. No home warrenty. No nothing. Just title company fees. I know what my auction fees are. I know my bid price. I don't know what my title fees are going to be. 

Anyone have any ideas for salem oregon area title company fees? The house price is $35k

home equity loan is ready for me to sign tuesday. 

I've been driving around strange parts of familiar towns looking at dumps with so much potential, and some with so little.  My bean counter suggested that I should wait until I am able to get a standard mortgage in October but I'm not sure the houses in looking at would qualify.  

Anyone have an oppinion on this?

Heloc and pay cash for a fixer or wait ten months and get a conventional?

please keep in mind that the following information if coming from a guy who is married to a woman who likes decorating and rearranging all the time. (Every 4 months or so) when I read lighten up I immediatly thought lighten the load. You know, lighten it up. My answer is that you remove everything. Replace the three most used prices of furniture, hang a picture on every other wall and then I'll be happy. Wait, this is your house were talking about? In that case I don't have a clue. Lol

i thought about a duplex but I'm not sure. When I buy my primary objective is to rent the property. If that doesn't work for me. (Example: if I find that I'm in the beginnings of learning a hard lesson) I want to be as liquid as possible. Single family dwellings are cheaper and appeal to 1. First time he buyers, 2. Investors, 3. Empty nesters downsizing, 4. Renters. In real estate that's about as liquid as I think I can get this side of just holding cash.

Does anyone know if there is a difference between rental property tax and owner occupier tax in Oregon? Polk county?

hey all. I bought my home 5 years ago near the bottom of the market for 97k. Now after a little work and a booming market its worth about 230kk.

I'm planning on a refi in September to pull about 120k out (staying below 80% loan to value to avoid PMI) to buy one to three rentals.

If I buy one rental I'll be paying cash for it. If I buy 3 I'll put 20% down and keep 30k around for renovations and vacancies.  If I decide on two it'll be somewhere in between. 

I'm not buying three at once but more like one a year until I find my comfort level. 

I've rented rooms before and its my opinion that people who rent rooms are the most difficult people to deal with for several reasons so it should be easier renting houses, right? 

I know going in that the houses I buy will be working houses. Like I told my kids when we bought two cute littlelittle 5 week old bullbull calves. "Dont get attached. Were going to eat them in 18 months" (and we did) I'm going to try to keep these houses at an arms length so I'm not personally offended every time I have to replace the carpet. 

I have 10 months to learn just enough to get myself into trouble. 

What's next?