All Forum Posts by: Ryan Jones

We put $200k down on our home two years ago, 15 year 2.75% fixed rate. (really for peace of mind because I know I could earn more elsewhere)  However, unless Trump is impeached this year, the stock market will probably be earning another 15-20% (I earned 20% in 2017).

Is a HELOC the most common way to go here? $150k HELOC should be about 3.25%? Then I still keep my fixed rate 15 year mortgage payments + owe interest on the HELOC right? But I'll probably be earning ~15% - 3.25% owed? Am I on the right track? Yes I know there is risk, but probably not too much this year as it's a great market. Thoughts?

The deed has name of Grandma and her deceased husband.

Notes/Exemptions:  Residential Homestead (Multiple)

$0 total current taxes

Shared CAD: No

Value Status:  Noticed 3/31/17

Past property tax payments show they were paid by daughter of deceased.  

What else do you want to know?

Maybe, but the important thing is that she is on the deed right now.  So I'm wondering if what you are referring to would only be the case if she was not on the deed, but rather just a spouse that would receive partial assets like his children would.  So we must ask, in a normal situation had the wife still been living in the house, could his children suddenly claim half of it?  A lawyer will probably be met soon, but I just wanted to get any info on here first.

Location:  Houston

Situation:  Husband and wife were on property's deed as they were married and bought it together 15+ years ago.  However, she moved out over a decade ago.  They were always still legally married.  The husband had a previous marriage with children and one of them was living with him while he was alive.  After he died, that child (about 45 years old) now still resides in the home.

Question:  Can the wife (grandma) simply sell the house (value approx $150k) since she is on the deed?  He left no will.  (I'm assuming most state laws say that a property simply remains to the one left on the deed).  The female child claims it is half hers since he had no will and she's been living in the homestead.  Would the wife have to get an eviction going?  I believe the home is fully paid off; apparently the child has been paying the property tax semi-annually but apparently has been living rent-free.  The wife (grandma) is a bit of a pushover...I'm trying to get her to sell it now so she can at least have that money invested and working for her.  Plus, if grandma dies, it would leave the headache for her daughter to figure out.  I'm trying to help...advice appreciated!

@Tammy Tivis  Curious what your thought is regarding the homeless population in Pueblo and it's relation to recreational marijuana?  Per capita, I'm told the homeless population is larger there due to rec marijuana.  I live in Colorado Springs and have interviewed many homeless folks who confirm they are here for marijuana (only medical allowed here so far).  There have been a lot of problems area there and I'm skeptical the area would turn around because if anything, people will keep building east of Colorado Springs and Denver.

Pueblo??? The drug capital of Colorado?  So many problems in that town.  Just today they had a massive heroin bust:  http://www.krdo.com/news/pueblo/pueblo-pd-announce...

Pueblo's home's appreciated at about 2% (lower than inflation) while Denver areas were going up 15%.  No one wants to live in Pueblo.  

Awesome!  Curious how you found the deal?  The best deals are off-market and the most work is finding them.  Did you get an investor friendly realtor looking for off-market deals?  Hoping to see your numbers!  Good luck!

Thank you Bill.  I do appreciate the advice and will listen to it.  I don't want to get in over my head too quickly.  :)

I have about $200k equity tied up in my current home and just over $50k for investing now.  Knowing what I know now, I would not have put such a large downpayment on a low 2.75% interest (15 year fixed) mortgage loan as it tied up good capital that could have been used elsewhere.  

I'm curious if most investors here still have a day job and just invest with extra money versus being involved with real estate full time?  Ideally, I would love to get involved full time - looking for inspiration there & hoping most people are doing it full time?...

I think my hurdle is that if I don't still have a traditional job, I need my deals to be something OTHER than buy and holds as that ties up capital, but I know BRRRR which can pull equity out is also very competitive.

Is getting on a wholesaler's buyer list a good way to go as this cuts out a lot of time and hard work as to finding the great deals?

@ Kevin Phu

If I was single I would move into one of the units, but my wife & daughter wouldn't like that.  ;)

@ Michael Kimmell

1800 cash flow is good, but not enough to live off of.  Do you have another job or are you able to raise capital for more deals?