All Forum Posts by: Jayson Z.

@Ramona Huot Speaking purely from the point of view based on having just replaced all 3 toilets in my own house, I can say these new low flush toilets are horrendous. They advertise that they can flush X amount of golf balls, but what they don’t tell you is that’s if you stand there and hold the flapper open and empty all of the contents in the water tank. There are somewhat lesser known ways of increasing the amount of water that’s flushed without having to hold it open (which I ended up doing with all 3 of my American Standard toilets) but this depends on brand and they don’t advertise their ability to be customized because that usually means they’re no longer abiding by the low water requirements. At the end of the day though, it’s your toilet to flush how you want it too.

@Todd Powell I’m sorry to hear that man. It’s such BS in this climate we’re in where people will literally trip over themselves in an attempt to destroy others. Presumably just because you fit into a “camp” that she apparently despises.

@Jody Sperling Thank you for the input!

I'm just starting this path towards real estate investing and already I'm faced with a huge decision to make: do I rent out the family home that I'm inheriting from my grandfather (after I buy out his two kids) or do I just sell it, give them their shares, and pocket the rest?

For some background information, I was originally intending on living here forever in Southern California. Like I said it's my family home and I grew up in it. I thought it was perfect, but my wife and I have made the difficult decision to pack up and move out of state in a year or so. I'm co-trustee on the house (1959 ranch style, 2265sqft, 4bed/2.5bath, large pool) with my grandfather and when he passes I'm also the executor so it's my responsibility to ensure that his two kids get $100k each. The house is roughly estimated to be valued between $600k-650k. Rents in the area can reach upwards of $2850/mo according to comps I asked a local property management company to collect for me. Obviously it might be less than that, but let's say it's on the low end at $2500/mo. After running everything through the BP calculator the numbers just don't look that promising. I guess I wasn't expecting it to hit the income so significantly. Can you take out a loan against a house that's paid off for another 30 years? If so, then the cash flow is only $198/mo. Sure it's being paid off by someone else, but for 30 years? 

Which is the better path to creating positive cash flow and financial decision: to buy out the two kids after selling and use the proceeds to purchase more rental units, or hold onto it and rent it out regardless of how little cash flow it's making at first?

Maybe I'm missing something that would make this a great deal, but from where I'm standing it seems like the decision to sell has already been made up for me. Help!

@Ryan Hazelwood 33, 0 rentals, looking to quit my 9-to-5 job by next summer (moving out of state) and get into rental properties. Joined BP and been reading books on the subject. Also have a friend who has already begun investing so I have him to kind of ask for guidance. Excited to get the ball rollin’!