All Forum Posts by: Derrick W.

books are great but pod cast are much easier for me as I spend the majority of my day driving. 

I haven't but have seen similar projects.  First thing to do is get with the city and fight that uphill battle. Zoning, parking,fire/ems access,etc...... Then there are engineer cost...all before the first nail is driven. 

It can be done though!

*rental

I hate trees on tental property. They are beautiful until they die. Then it's money spent that is never recouped.  I always look at them before a purchase and use them as leverage in negeociating. 

I fish all over the u.s. Using cc points. Headed to california next month, florida in November and Alaska next summer....

there is an old saying about orchards.... The best time to plant them is 15 years ago.  Real estate is similar.  It takes time to build wealth and each day that passes is one less you have. If you wait around too long then your opportunity will be lost. Getting your wife on board is your first big business deal. After that the rest is easy. I bought my first rental 10 years after I decided that I wanted to follow this path. That's a huge regret but 2 years in and things are going great. Soon as I finish typing this I'm jumping in my truck and hauling my boat to our vacation house on the coast. 

I regret time lost but not the uphill battle I took on to get to this point.  

water heaters 7+ years old are on borrowed time. Water heaters don't like being moved once they have been there for a while. I wouldn't touch them until it's time to swap out. 

buy and hold rentals get cheap parts. 

Flips get what it takes to sell without killing the profit. 

Either way I would probably go cheaper....

thanks!

one thing I learned about cabins the hard way.... If you rent it out while your not there then you can count expenses as deductions come tax time. Unless you use it more than 15(I think) times a year then it's considered personal and deductions DONT count.