All Forum Posts by: Cheryl Butler

Here's a wild card: Have you considered section 8? I know in Ohio there is such a shortage of section 8 housing that you can rent just about anything that takes vouchers. You would have to invest more in it to qualify, and it's kind of a pain, but maybe once it's rented you could sell it to another investor who wants the guaranteed monthly cash. 

Maybe it's an Ohio thing, but I'm with @James Wise. As long as these guys are paying their rent and not making my life miserable, I would not start stirring. We all have plenty of horror stories about tenants, and this isn't really one of them. BTW, is smoking weed still considered criminal activity? 

Very good episode, thanks! I think our minds tend to focus on our successes rather than failures, so it was interesting to hear you two pull a few out of the archives and dust them off. Nice to know that you can trip a few times and still enjoy the path to financial independence.

This is one I will listen to again and again. It was a revelation for me to realize that just because your outcome isn't what you expected it doesn't mean you made bad decisions. And my, my have I been a lucky investor! Thanks a lot for this one!

I always check the court filings for the local municipal and common pleas courts online. If someone has creditors chasing them, or has a domestic or substance issue, it will often turn up. It's all a matter of public record. I also check out facebook....that can be very telling.

I put more in my 401K so I can borrow against it, but I'm always looking for a way to reduce my federal income taxes. Your situation may be such that you aren't concerned about reducing you tax liability on your W2 income. If your plan allows you to borrow against it, you can save money tax deferred, then borrow 1/2 of it @ a pretty good rate (mine is 6%). The interest isn't tax deductible, but you are paying it to yourself, so you have more money saved to borrow. 

I wouldn't touch a 3 cap in any market.

Thanks for the insight on raising money Matt! I'm at a crossroads in real estate investing. I've used my own savings and W-2 income to accumulate some great income-producing rentals, but if I want to take it to the next level I know it will require additional resources, and I've been wondering if I want to go down the path of risking of OPM. Your comments about having a solid track record made a lot of sense. Can't wait to get your book!

Glad to see this thread. I try to find properties that need work so I can add value, but of course it still takes money to buy and rehab. I will go after the painful deals, such as short sales or houses with bad floor plans, because there is less competition, but it's still the same strategy: Run your numbers, buy if the deal makes sense, and collect rent while you wait for the debt to get smaller. But I wouldn't call it boring. In fact, having very little money in the bank for those months right after a purchase can really bring your blood pressure up and make your heart race. And then there's the thrill of wondering how long you will have to carry a property before you actually get any money from it. Boring? I don't think so. Creative? Maybe for some :-)

Realizing how much money I'd made in real estate for other people.