All Forum Posts by: William Arrington

I was thinking hard money lender but I would make sure you add that time and money into the expense.  Your interest rate will be higher for the time before you can pull the money back out and depending on your area its taking longer for repairs with materials being more.  

 I think your miss understanding what I wrote.  Iam on the east coast. My AIRBNBs are in areas that need tourism and have had rental houses for longer than AIRBNB has been a thing.  They have standards with rules in place and they do not change them because they are established so no surprises.  I would not say that I would never buy one in a city but the reward would have to be pretty amazing for that risk.  California is also starting to get more strict on AIRBNBs and Joshua tree is about to lock down permits.  

 I am guessing lighter and something in a can that can combust.  I suppose that would be a flame thrower.  Side note.  While I served we found a flame thrower while ordering parts.  Its listed under cleaning supplies.  It is used to clean shrubs away from chain link fences.  

All my STRs are in places with 4 season rentals and laws on the books regulating them.  Do not buy one in the wild west.  Sure it's great to not have any rules but one county meeting and they are all banned from that area and you're done.  I also have security so if you are loud and security comes and says your done.. I am not even the bad guy.  Your leaving with them driving you out

This might be a moot point.  Banks tightened down pretty hard on HELOCs.  If you find a bank willing to play ball I would imagine a few people on here would like to know which one.

Its not something I do anymore but when I made very little money I would change the price to hours of my life I trade to own it.  Ill use a real-life example from the other day to explain better.  I saw someone wearing a Gucci tee-shirt so I looked up the price.  Did you know they cost $650?  That's $650 for a tee shirt with a tiger on it.  The average hourly rate in the united states is $26. Not including taxes it takes the average person 25 hours to pay for that shirt.  

There are some areas where quality is worth the price.  I enjoy woodworking and tools in general and after years of trying to save money, I learned a valuable lesson.  Cry once.  All of a sudden that extra $100 for the better power tool doesn't seem so bad when you're replacing your third battery for the cheaper tool in 1 year.  

Based off what they said recently... (last 3 weeks) they will stopping QE in early 2022 and begin raising interest rates.  Transitory inflation (a lie in itself) is going to become 1970s inflation if they dont.  I would not imagine massive increases but up to half a percent increase could happen by the end of 2022

Pushed out happens all the time but you probably know it by a different name.  Gentrification.  Basically your an old person in this situation on a fixed income.  Your house was worth $300,000 and your tax bill was 1% of that a year so you owe $3000 a year in taxes for the property.  People start moving in and pushing the values up.  Your property goes up to $500,000 over the next 3 years with crazy growth (think Austin texas a place this is actually about to happen to people)  Your property tax is now $5000 a year not $3000.  The government doesn't care that you have been there for 15 years.  When budgets are tight which is the case with people in these situations they get into tax debt and cant get out.  The home they thought they would live in the rest of their life has to be sold or worse.. get auctioned because they thought they could handle it.  

The situation of your parents is not your own.  You can escape and will but you cant take your siblings with you.  They have to find their own way and will but it will take longer than you think.  Buy as much of those bitcoins as you can (I didnt because I have a rule that if you dont fully understand something you cant buy it and that includes industries your investing in..... they were $3 each when i transitioned out of the service and literally had my mouse over a buy button to purchase 333 of them ($1000) and closed the computer instead..... ahhhhhh