All Forum Posts by: Shawn H.

What does everyone think of 401k's, ROTH IRA's, etc? Would anyone cash in a 401k to pay off an investment property? Some doom & gloomers predict a 5000 dow by years end. Is it better to diversify with 401k and RE? Paid-off properties, even in a down economy, should have positive cash flow albeit at a lower ROI. Financial advisers teach dollar-cost avg, tax-free growth, etc. Cross your fingers and at 59 1/2 you may have made money(after fees of course). Is any value given that cash flow from REI is realized now, not at a later date. I've always thought diversify. Maybe the diversification should be across several of your own businesses and not stocks, bonds, etc. Any thoughts?

On average, how many frogs(tenant applicants) do you kiss, before you find a prince(approved, qualified tenant)?

Is it taking longer to fill vacancies than a year ago? We have turned down a lot of non-qualified prospects and it seems 'normal' people are in short supply. We are in an area where trailers rent for $350-450, and 2 br houses rent for $350-450. These are the nothing special rentals and many run-down. We have a nice duplex, nice area, were previously getting $450. I've been told there aren't many rentals available in the area. We've been advertising/showing it for 2 weeks. Is the economy so bad that people will rent a run-down trailer, in a bad area, instead of a nice duplex for a $50+/- savings? We are considering lowering the rent.

Is it legitimate to deny a prospective tenant because of their ex-husband( criminal felonies etc.)? Especially when they have children together. Obviously at some point the ex spouse would be on the property to pick-up or drop-off the children.

Thanks for the responses. I live in Illinois.

The county I am in does not offer this information online. I want to be able to find properties in default before it switches hands back to the bank, or before a realtor has it. I called the clerk's office and didn't receive much help. The 'Notice of Default' shown in the legal section of the newspaper should be filed with the county clerk right? Shouldn't I be able to search a database at the courthouse for 'Notice of Default' filings over say the last couple of months?

What do I need to do to get info on soon-to-be foreclosed homes, before it goes to realtor's hands? What information is available to me at the County Clerks office? Public notice of Foreclosure??
Do I contact the mortgage holder directly?
I live in a rural area, investor opportunities seem to be increasing. I don't think there is a lot of competition yet, and I would like to deal with the necessary people in a professional manner.
thanks

I recently read Rich Weese's blog, which had a very interesting post about taxes being one of the greatest wealth eliminators. I completely agree with Rich, and thought some of his deductions were very creative. I think a lot of newer investors, like myself, are not aware of or are afraid to take certain tax deductions. I also feel that many CPA's out there will not push the envelope when it comes to this area. I would like to hear 'legal', non-mainstream deductions or tax saving ideas everyone has used.
Thanks

So it seems like everyone's purchasing methods have remained the same. I thought, with the current economy( and yet to come government actions), investors might be more conservative... 3%+ Rule?? or cash purchases

Is now the time, with the current market, to be making all cash purchases? To have some properties free & clear...Or accumulate as many properties as possible, with financing, while the market/interest rates are down.