All Forum Posts by: Shanti S.

This turned out to be a good deal for me - my plan allowed me to borrow 50% of balance of the plan, no fees, no penalties, cash was in my bank account in 2 days wired.

I took a 5 year loan, 3.25% simple interest, interest goes back into the balance of my account. No prepayment penalty so I plan to pay it back in full when I refi or sell the deal that this loan allowed me to do....

I'm betting that the deal will work out better than any appreciation in the stock market over the life of the loan, and if the market goes south again I'll be even happier...

I do think it's a great idea to shop in bulk to save $, take advantage of the buy one / get one or two free sales etc. for anything that will store without refrigeration.

Living in New England, I don't see a need to store water since we have so many streams, ponds, lakes everywhere and I can just filter.

When the talk turns to the roving gangs with guns coming for your food scenarios, I just tend to think of heading for the woods rather than making a stand somewhere. Won't find me anywhere near a city if that ever happens. I'll be in the middle of nowhere with a good rifle, ignoring the hunting seasons :-)

My basic bug out items? Comfortable pack, synthetic sleeping bag, sil-nylon or plastic tarp, wind pants and jacket, fleece, winter hat, wicking layer top & bottom, 2 lighters, little ziploc with a handful of firestarters (I'm lazy), water filter, pocketknife, string, small first aid kit, bug dope, water bottle, led headlamp. Good boots and couple pairs of socks.

Not so basic - add hennessey hammock, sierra zip stove, solar AA charger, sleeping pad & chair kit, food and spices, reading material, toiletry kit, sewing kit, bandanas, sunglasses, sven saw, micro gps, and coffee.

I'm no hardcore survivalist, don't have a bunker or anything, but have been a backpacker for many years so I have a little perspective on survival -

Water and warmth are most important - you can die from hypothermia when it's as warm as 50 degrees out.

If you stuck me out in the woods and I could only have a couple items, sleeping bag and a disposable lighter would be 1 and 2. Water filter, trash bag or two also right up there. Yeah I own guns but for survival, gun is way down on the list.

Yes, you can boil water but that will not remove toxins/poisons. Get yourself at least a $50 camping filter for drinking water - it's much faster than boiling and will fit in a pocket.

You can dehydrate food and store it for a year easily - I buy fruits and veggies when they're past prime for cheap from local stores, dry my own garden produce, and make jerky and other treats healthier and for far less than you pay pre-made. Dried foods require no electricity to store and if you have to hoof them around they're very light.

For a portable stove, zip stoves are amazing - run on a AA battery and never run out of fuel. Burn very hot. I have a solar charger that is pocket sized and keeps 4 AA's charged, good for my stove and an LED headlamp. The zip stove also serves as a nifty quick campfire for warming up and keeping bugs away.

Nothing needs to be expensive - expensive buys you style and ultra-ultra-light gear but you can get 99% of the function at wal-mart or homemade and substituted gear.

Having a bug-out bag at home and/or in your car, and the practice and knowledge to use the contents, contributes to a lot of peace of mind should things go south in a hurry.

Remember you can easily go a couple weeks without food and function just fine - but know how to keep warm, dry, hydrated, and uninjured.

Is this the same company that negotiates short sales for you for a flat fee? If so, could you provide some details on this option - I understand that handling short sales well takes some skill and patience, and I'd be willing to pay a pro a reasonable fee to do so for me on a per-deal basis.

A $60k boot camp? Not so much.

Absolutely. I think $75 per sf might be more realistic in my area for a complete gut and rehab - and maybe even higher depending on the type of work and the area.

If contractors are in high demand in an area then it's going to cost you a lot more to hire out the work. Sometimes good ones are so busy that they throw out ridiculous prices - they don't really want the job but figure if you'll pay THAT much they'll take it - and people still do.

In MA and NY, tradesmen can certainly make six figures if they're good and good at running a business. You're competing with all the yuppies and businesses for their time :-(

I think I'd like to live in TN :-) I don't own the property, the bank still does - so this guy can't be evicted.

He has been living rent-free for months and is now demanding $7k for anyone to even see the property.

Nothing anyone can do about it but the owner - and the banks don't generally evict anyone I believe....

If I decide to purchase with only seeing the 2nd floor, then yes I would immediately begin eviction (3 months in MA) but I'm concerned that he might trash the place or cause other problems before I can get him out.

I would look at as many examples as you can find, pull the parts you really like from each together, and then probably have an attorney review it as a final step.

It should save you $ versus paying them to start from scratch, and they may catch something that would be disallowed in your state. Pay for an attorney's time when you have very specific and focused questions you need them to address, never for anything you can prep yourself is my feeling...

I am guessing that the generic one is impartial or possibly too strong on the tenant's side. I would go for the strongest one allowed by state law in favor of your rights as a landlord.

Not sure I'd want to kick out a tenant who causes no problems and always pays, just a bit late. They just need some training!

If you're averse to the idea of a late fee or your state does not allow late fees, you could always put in an "early pay" bonus - that is, if rent you want is $1100 a month, set the rent at $1150 with an "early payment bonus" of $50 if paid before the due date.

Not trying to kill your enthusiasm, just wanted to be sure you appreciated the risks of that fee - how much do you think someone is willing to pay per month total to live in that mobile?

I have a lot to learn about mobiles, but I have heard some horror stories about the cheap aluminum wiring corroding and causing fires. Check the service connections at a minimum.

You may contact some mobile home park managers, maybe they can refer you an inspector who specializes in mobiles, it would be an inspection and an education all in one....

The major item that seems costly to me is the $390 lot rent. Even here in MA where RE is expensive, I see mobiles on lots for $200 lot rent.

Reminds me of condo fees - I was seeing condos that were appraised at well over $100k listed for under $50k and thought they might make great rentals. But when I ran the numbers, the fees were the issue - and there was no guarantee that they wouldn't be raised later on, making my cash flow disappear.....