All Forum Posts by: Ron Todd

@Jonathan W. yeah I was shocked when I ran the numbers. I bought this house a couple years ago before I got into bigger pockets and now that know how to estimate costs more accurately, I can see I under estimated them (classic rookie mistake) and that's how I ended up with only a potential $60 in CF. Looks like it's time to sell!!

@Account Closed Yeah I'm leaning more towards selling and putting that money towards another investment. I guess it mostly boils down to timeline to next investment. I was debating holding it to gain more equity but it probably makes more sense to just sell, take the cash and reinvest in something better. 

Happy Mother's Day BP!

We found the perfect house to make our new primary residence and now I'm left with figuring out what to do with our current house. Comparable rents will only net me $60 CF (after PITI/vacancy/maintenance). I could sell and net around 10k all said and done. I would love to hear what people did in a similar situation.

Hi BP,

My wife found a home on Zillow that is in pre-foreclosure. We are interested in making it our primary residence. Any tips on how to approach the subject with the owner or bank? I was thinking of writing a letter to the homeowner and trying to go a more personal route, but I would love to hear some suggestions.

@harjeet bhatti Thanks for the reply! That's good news.

@shaun weekes awesome. Most of the information I've found is a couple years old. Thanks for the help!

@Alexander Felice thanks, that's perfect.

Hi BP,

I'm looking ahead at options for mortgage #5 and I was curious for the 6 months piti that you need on hand if that has to be cash or could it be held in a retirement account like a roth IRA or TSP. For example, If I needed 50k in piti reserves, would the ability to take a 50k loan from my TSP suffice or would I need that money to actually be in a checking/saving account? Also looking at for any other experiences or tips with mortgage 5 and beyond.

Hi all,

I'm looking for you pros and cons for section 8. What did you wish you knew before you got section 8 tenants? 

Thanks all, I'm not overly concerned with snow as we don't get very much here in Oklahoma. Heat will definitely be a factor for the second layer of shingles.