All Forum Posts by: Perry Ivy

I'm surprised no one mention replacing the Sheetrock, that is usually my approach. It gives me a chance to check the wiring, termite damage, proper insulation, plumbing, ect... I hate taking off wallpaper and the work involved in getting it prepped.

All of the financially secure people I know have older cars. All of the financially insecure people I know but new. There's exceptions to that of course. I'm wealthy and can drive what I want, but I drive an 2011 Hyundai Accent. If a guy pulls up in a new vehicle the wealthy think that he waste money, but the poor think he's rich. If your goal is to impress the wealthy stick with your current ride, if it's the poor you wish to impress, then get a new one. No judgment, just my experience. I know a guy that bought a $50k truck and pays almost $800 per month and in ten years it won't be worth much. I bought a duplex for 47k and it nets me $950. Who do you want to be like?

@Sam Valme ha I need a choke-able neck:) thanks for the input. 

Vincent Crane my phone won't allow me to like your last comment, but right on!! The money always has been and always will be made in the purchase.

I am about to insulate the exterior of my house and was advised to try ultra flect and I'm looking for reviews. Thanks and please tag me, so I'll get notified.

Abad Marroquin What I do: I want one thing in this situation, a house that's ready to lease. You can chase these people for money, but it's apparent that they have nothing. Say after time, money and much frustration you win, then how will you collect? I talk to the tenants and explain that they owe me back rent and that their legally obligated to fulfill their lease. Then I explain that I'm an understand person and that I'll work a deal with them. If they will be out in X amount of time, leave the place clean and ready to rent(no repairs needed), then I will release them from their obligations. A disgruntled tenant can cause you thousands in damage that you can never recoup. They can loosen a water fitting and that could flood your house and there's no way of proving they did it. I always tread very softly and try to remain on their good side while their in control of my investment. I know others who get angry, take them to court and then try to force them to pay, but in the end the tenant stays longer, more damage occurs, everyone involved is stressed and angry. Walk softly and carry a big stick :)

John Warren Skills that you need: Plenty of money: lots of repairs, multiple vacancies, rehab, extensive cleaning. Lots of patience: phone calls all the time for silly reasons, habitually late rent, breach of contract, ect... The ability to fix everything: tenant will break, damage, or destroy everything at some point, so cost management is imperative!! Become very knowledgable of the court system: evictions, prosecutions, general law including rights and responsibilities. Good liability insurance. I could go on an on ha

Nnabuenyi Anigbogu I can tell you about the other side, I was diagnosed with a major medical illness in 01, the medical bills exceeded 600k, I lost everything including my health, but I started building back and then 08 happened. I am now where I was at 21 and I'm now 36, so I exercise great caution. I've notice that most of the time hype is sold on here and when I was 21 I bought into that, but now I'm older and wiser :)

Nnabuenyi Anigbogu I didn't mean to be argumentative, I just try to represent the other side. Roses always have thorns :)

Steve Snyder it can work, but every t has to be crossed and every I dotted. You can also build a bridge to Hawaii, but on the end is it worth it? Good luck sir