All Forum Posts by: Tanner Marsey

Let it ride in 401k.

Upon “retiring” ramp up your fix and flip gig and acquire more buy and holds. As you age you aren’t going to want to flip homes and deal with tenants or the other issues that come with owning rentals. The 401k income will be a nice asset to have alongside whatever real estate you own

@Shawn Munoz

Feel free to correct me if I am wrong but the BRRRR method is more of a long play. Ideally, you're into these properties for very little or even no money of your own after you refi. However, your cash flow might not be that much right off the bat. Over time that should improve. Obviously, if you use this method a bunch of times you could see financial independence semi soon. 200 dollars a door times 50 doors isn't bad!

No big deal for it to be laid over.

As far as the contract goes though..... you’re right. If it says all flooring removed and disposed of or however it is worded... that’s what you’re paying for. Crazy idea but..... talk to contractor about it.

 Fair enough. A pricey mistake that you’ll hopefully never make again. Look at the bright side.... when all said and done it’s still going to make you money one day. Good luck!

@Phillip Shafer

No disrespect meant but why would you ever pay full market value for a place you have never seen via an auction website...? Those two factors alone should usually mean you need to acquire the property at a pretty deep discount to ensure you don’t lose your shirt. Again, genuinely curious...

 Exactly!! 

Not at all. You come on here asking for advice... people are upfront with you about The way you’re coming off and telling you the honest truth about how this is going to play out. Instead of thanking them and graciously accepting their advice your write them off and tell them you don’t need to interact with them anymore. If this is how you conduct yourself on a message board I could only imagine how you are in person and why people arent flocking to you with deals.... 

good luck, man.... 

@Nick Rini

People here are giving you sound advice.... you’re just choosing not to hear it. It’s a cold world, grab a jacket.

My personal advice.... don’t waste your time. Focus on increasing earning potential and paying down debt. In the mean time... read books, listen to podcasts and continue frequenting BP. By some of the questions you’re asking.... you aren’t ready for a D/F property. Please don’t take offense, most people aren’t ready for them. Ever. Myself included. Don’t rush. Get yourself a nice, simple, cash flowing class C or B when the time is right.

The more you know....

Also, I don’t want to wait until I’m 60 to start enjoying traveling and other stuff.