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19 September 2018 | 29 replies
Since the seller and you seem to be at a stand-still I would try and push the important things on the list and leave out the less important. #6 is an easy fix and isn't costly so I'd forget about that one, as well as #3 (the water heater - especially if it's still working - the seller will probably not want to credit you for it - plus it's not a very costly replacement).
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17 October 2018 | 10 replies
@Matt EngleThank you for response, my goal is to reach financial freedom In the shortest time possible by using real estate as an investment vehicle, having the ability to be flexible and live the life I want and be around my family as much as possible, support my parents/famil y and build a community in my native country of Zimbabwe.
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27 September 2018 | 11 replies
@Chris Mason The vast majority of my T/Bs have been newly self-employed or had a one time financial event that led to a bankruptcy.
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19 September 2018 | 7 replies
@Brian Garrett I have teamed up with a couple of different financial partners.
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18 September 2018 | 1 reply
HelloMy name is Ron and I really feel like I’ve found the path for me to achieve financial freedom, and that’s by becoming a REI.
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18 September 2018 | 3 replies
His name is Sean, and his company is Block Financial Resources.
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9 October 2018 | 38 replies
Was this a situation where the investor financially backed the project and you ran it, I.e. you scheduled the work, found the contractors, sold the house for him etc?
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18 September 2018 | 0 replies
I'll use an example with similar numbers because I want to truly understand the reasoning here:On the high end, the interest rate would sit around 5.75%, at the cost of -.125 points (ultimately resulting in a lender credit of $164) and a P&I of $766 per month ... on the low end, the interest rate would be 5.375% at the cost of 1 point (around $1300) with P&I of $735 per month.Given that info, this is to say that if I planned on holding onto this property more than 42 months (that's $766-$735= $31 per month... then $1300/$31=41.94 months), then it would make financial sense to pay down the percentage rate up front at 1 point because beyond 42 months, I'd be saving money every month...
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19 September 2018 | 1 reply
So based off this calculation I determined that my portfolio is strong enough to move on with my expansion plan into a new market.Business expenses as % of total expenses : 70% 1) Fixed Expenses: a)Monthly Mortgages: 45% b)Property Taxes: 18.7%c)Utilities Expenses: 14.8% d)Licenses & Insurance: 5.4% 2) Variable expense - Water bills + repair expense : 16%Personal Expense as % of total expenses: 30% My monthly living expensesa)Housing: 39.7%b)Child Care: 25.4%c)Living expense: 22.2%d) Food: 7.9 %e) Insurance: 4.8Income 1) Total Income - 100% A) Rental Income: 42% B) Wage income (W-2) : 26 % C) House Flipping Revenue: 23% D) Property Management Revenue: 5% E) Stocks/Dividends: 4% Please let me know if you would like help walking through this process as it has been super helpful to understand my financial situation or send you the spread sheet I used.
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22 October 2018 | 6 replies
I love my job, but I just don't feel like I have the financial freedom to do everything that I would like.