All Forum Posts by: Seth Hensinger

Mike Osterman this IS the off topic category. :P

One thing that would be good about buying a cheaper new car is the need for a loan, and that loan can help me establish much needed credit history

I have an old '98 Ford Escort that's just getting to the point that everything's going any time now. I could drop a bunch of money into that whole and watch it fly away, or get a new car. I decided on getting a new car, but the real question for me is how new and which car. Regardless of my choice, it sets back my start into SFR's by a few months minimum. By nature, I'm not a patient person when I'm excited and passionate, which REI has done to me. I am long term goal oriented though. I have never bought a car other than my first one from family. Lots of people have said to get a new car off the lot from a clearance sale, so as to get a good warranty and deal. This doesn't look bad since the car will be with me until it's end. But the price tag of that sets me back even further. I'm also wary of getting a used car, even if it's relatively newer. I don't like rolling the dice, even with thorough inspection of a used car. On top of all that, I have NO idea what make, model, etc. No idea how to choose there either. Pretty much anything I want comes standard these days. Great mileage is a must. I'm also trying to decide between automatic and stick shift. I don't ever drive more than 30 miles one way. Usually a fair amount of stops. I'm proficient in stick shift and am not in opposed to long drives with it. Any input is appreciated as far as advice, personal experiences, etc. Have a great day BP!

Hey there BP community

I've been reading lots of great posts on here and just got to thinking. I'm still saving so I can jump into the actual investing part of this.

What would you say the most crucial and successful steps you took were when you started out?

Hey BP community.

I'm 19 and am very interested in buying and holding homes to rent out. I've been checking out resources for knowledge on all of this and was hoping I could get some good tips and such.

Homes in my area run from 15k to 200k. I'm looking at keeping purchases under 30k, 20k if I can manage to find gems. I plan on getting a good 20-50% of the homes price in cash before getting a loan for the rest.

My goal, which is very ambitious I think, is to have my first house by next summer paid for or nearly paid for and having tenants in it. I'd like to try to add a home a year after that if possible. Currently, I'm able to net and save roughly 20k a year. I'd love to increase that through real estate and I know that there are some very smart and well informed people on here that could help possibly.

Much appreciated for any tips or hellos.

Have a great day!