All Forum Posts by: Tony Wooten

@Rolanda Elderidge Thanks for the offer. I was asking because a friend of mine, who is renting is having this problem with the landlord.

Is it true that landlords don't have to repair A/C problems if its not a summer mont?

Thanks guys for the replies, this really helped out a lot. I think we will end up with a flip with less problems. We had figured the more problems, the more we could learn. Even though we're hungry for knowledge, we'll take it slow.

Me and a friend are wanting to flip a house together, and gain the experience needed to continue flipping. We have no experience in flipping, or real estate. Would you recommend jumping right into a cheap house (15k) that needed a lot of repairs like replacing water pipes, gas lines, floors in one room, A/C Duct, and rotting wood on the exterior? Or would you recommend buying a house that needed minor repairs, but is a little more expensive?

So is interest applied to the texes and insurances as well?

Thanks for the replies, I really appreciate it! I didn't realize people responded so quickly on here. All of the advice really helped. I think I'm going to go with paying down my debt since I really don't have right about of money saved to pay 20% down on a property. I think @Daniels advice would apply to my situation the most, because I will have more capital with less debt. Also something goes wrong, where I have to hold a empty rental property, it will not hurt me as bad because it will be paid off.

I'm 27 and looking to soon start a career in real estate investing (rentals). I have a job that allows me to pay my bills comfortably and pay down a small portion of my student loans and credit card debt each month. I also have a 15 yr mortgage (14 yrs left) on my house. Would it be wise to pay down my debt first , which would take about 2-3 yrs,or go for it?

Thanks!

Whats a EMD?