All Forum Posts by: Account Closed

I work 2nd shift so weekday evenings don't work for me either (and all REI meetings seem to be on weekday evenings), so unfortunately I'll have to pass as well. In a few months I should be getting a day shift position though so if it becomes a regular thing I'll eventually make it :)

You can withdraw Roth contributions penalty free, but if you withdraw any earnings on those contributions you will incur the 10% penalty.

In addition to the above, I believe some states allow you to break a lease without penalty (or limit the penalty amount) because of certain circumstances, such as job transfer. Look into that also, the lease may say one thing and the law another.

Yes, the rules of thumb are just to help see if a property is worth looking into in the first place and NOT how you'd actually determine if the investment is worthwhile.

I think that the type of tenant that would be attracted to heat and hot water included in rent are the ones that have unpaid utility bills and can't get them in they're own name, and the ones for whom an unexpectedly large utility bill would be a financial burden. Neither of which are the type of tenant you want to attract.

I use mint and as far I know it is "read only" access. I can't transfer funds or use credit cards from my Mint account as far as I know. My concern would be their system getting hacked and all my log ins and passwords being compromised.

Count me in too :)

@Jeff Joachim Agreed, and there are both good and bad people in every part of this business, not just wholesalers. It just seems with wholesaling you often don't need much cash to get started so you get a lot of people just looking to make a quick buck at any cost since they have none of there own money on the line. Most other methods of investing require much more risk (putting up your own money or credit rating) and are unable to just walk away if the deal doesn't pan out so a greater percentage of people there are looking for win/win scenarios.

I agree, and there's probably good wholesalers in my area, but I'm sure they have investors they contact directly and don't market on craigslist. Before I found the house I'm living in now I was searching craigslist and the MLS through a local realtors website for many months while coming up with cash and getting my credit rating up. I've seen many houses on craigs later pop up on MLS at half what they where asking on craigs (not all from wholesalers but some of them where) and some where still overpriced when listed on the MLS.

What about a HELOC if your unable to refi?