All Forum Posts by: Peter Shutt

Hello! What sort of terms were you searching for? There is not a way to filter and sort search at the present.

You could get a device that shuts the hvac down when the windows are open. Like this one: https://www.kadtronix.com/hsrs...

I agree with @Bill B. except that I would guess that they wouldn't be surprised since they have likely been there awhile with no rent increases (but that is just speculation). Personally, I would raise it a couple hundred bucks each year until you're at market value, provided the tenant is worth keeping. Although you are losing rental revenue, you also don't have to spend any money/time turning around the unit. I read about a technique in https://store.biggerpockets.co... where you send them a renewal notice (in your case right when you buy it) that with take effect in 90 days with three options: 1. Sign a 1 year lease at 900$/ month 2. Continue month to month at 1,000$/ month or 3. Vacate premises. That way it gives the tenant a sense of control while you are still able to get what you want. 

Hi @Kaylee Loomer

The advantage of using retirement accounts is that they allow you to have some sort of tax advantage. You are able to draw from those accounts, without penalty, once you reach the age of 59 1/2 (Although you can withdraw the principal from a Roth IRA at any time without penalty). There are limits to how much you can put in the retirement accounts each year and unless you plan to live on very little you will need to invest much more than the limits of the retirement accounts in order to be financially independent. This means that you have to invest in non-retirement accounts once you max out those limits. A lot of people tend to max out their retirement accounts first (usually Roth, then 401k etc), then any leftover money goes into self-directed accounts.

Also, I would encourage you to look into real estate as another method of investment. While it tends to be more hands-on, it also has many advantages (although I am biased). 

The problem is that you don't know which areas are "high appreciation areas" until the areas actually appreciate highly. It would be terrible to be losing money for 30 years only to find out that the area hasn't appreciated at all, or worse, negatively. It's analogous to picking stocks that will be winners, no one know for sure which ones they are until they win. You can know, however, which properties cash flow. But, YMMV if you have enough cash to take the risk, diversify etc.

@Harry Allman It looks up to date to me! Let me know if you see anything that seems out of date or wrong. Thanks!

Hi @Harry Allman have you seen this tutorial?

@Helen Fradette Hi Helen, I wouldn't worry about a specific percentage for now. I would worry about your specific savings goals. Your savings rate only determines the speed at which you arrive at your goals. Your goals should have a timeline, so once that is identified, it becomes a simple math problem to determine how much you should be saving every month/year. 

Hope it helps!

@Chad Burkett Hello! You can find it under the "TOOLS" dropdown labeled "Rent Estimator". Also, here's a link: https://www.biggerpockets.com/...

Have fun!