All Forum Posts by: Sandy Sawyer

@Sakib J. Hi Sakib, I do have an agent I use for all of my insurance including on my home. She usually ends up writing me a landlord policy with UPC Insurance that has a self-inspection feature where you upload pictures to their portal. PM me I’ll be glad to share her contact with you. I’m in Texas, don’t know about other states.

@Brian Nel Hi Brian, I never heard anything about the TREC 1-4 contract being void if not used by an agent. You might be confusing that with the contracts made available only to Realtors by the Texas Association of Realtors (TAR). I know many a seasoned investor that uses the 1-4 you can download off their site. However it is the situation that a Texas agent is not allowed to use any contract other than those promulgated by TREC where one is available. They are regulating real estate agents, that’s all. Also, there’s technically a difference between void and voidable. 

Yeah, they aren't home owners yet with even more responsibility than they're used to. You need to just let them know these are their options. If they think it's too steep to pay the penalty, then they need to reconsider.

Depending on your age and time horizon, you might consider investing through a ROTH IRA. That's what we did. Of course, converting your traditional IRA to ROTH gives you a big tax hit initially, but everything grows tax free! Structured correctly, you can even buy and manage real estate through your ROTH. (We did this as well). Do your homework though before jumping into a strategy, make sure it makes sense for your situation.

Something to consider is that the concrete in the garage slab is probably not the same strength as the one under the house, that is if the foundation is concrete. The builder didn’t intend on so much weight being added later, as it’s only made to park a couple of cars, not a whole second story. Same goes for the framing. The ceiling was not intended to be a second story floor, etc. Reading your scenario, that’s the first thing I thought of. Was the garage apartment permitted? If you’re adding even more plumbing out there, you’ll need at least more permitting for that. I’d suggest finding a contractor with experience converting garages into living space. He’ll give you lots of free advice.

I think it makes more sense to sell the Bit coin & use the cash to buy real estate. I mean, it’s a hard enough thing to find the right property & negotiate terms. Bringing in another speculative means of payment muddies the waters as far as exactly what you are offering. It’s like you are asking the seller to gamble on the possibility that the Bitcoin will be worth even more by the time you close. Reminds me of “Let’s Make a Deal” (really showing my age now) where you pick one of 3 curtains to see what you bargained for. It’s too novel an idea to layer the risk you are asking the seller to take on. If you’re not careful, you’ll think you’re getting a great deal, but you are the sucker!

My gut tells me the other shoe hasn’t dropped yet.

When you think about it, it’s going to really leave the mortgage lenders holding the bag. How many landlords are going to just go ahead and foreclose!? Hopefully there will be something in the relief package to head that off at the pass, and keep us little guys afloat. 

Hi @David Richter, I’m not finding that book you recommended Profit First - Learn how to keep the money you will make in real estate investing. Can you please tell us the author’s name? Is it still in print?

We lived in Southern Indiana in a corn field past Bloomington for 12 years. One thing I can tell you is real estate agents are cut-throat liars. (At least back then) We’re in the IT business & found they would hack each other’s voice mails to steal clients! Anyway, one tip I can share is, never be late on paying your property taxes, one day late and the fee is something like 16%!