2 November 2016 | 51 replies
But deducible is 5k.. so I had a roof in Dallas it cost me 5k to replace it was a 14k job... if I was a buy and holder and making 200 a month... that eats up 2 years cash flow.. so that's why I am of the mind in hail prone areas one needs to look at this carefully..
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21 October 2016 | 6 replies
I could not give the house to the bank and walk away from my mortgage as the house was still worth more than my HELOC, so I actually took a $300k loss when I sold it ($500k if counting the maximum value of the home during I owned it)Here are the lessons that I learned from it: Don't put all your eggs in 1 basketDon't go for the layout that you personally like but a layout that sells..
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22 October 2016 | 10 replies
Lastly, if you don't need to "flip to eat" because you have a career path you're on, take your time.
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24 October 2016 | 25 replies
Sure you could have great cash flow for several years, but one big capital expense would eat up many years of positive cash flow.
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26 October 2016 | 11 replies
So, you shift money in your operating accounts.Payoff the little old lady who is calling her attorney.Now the XYZ is about ready but you're short.Hey, you'll get all the money later, you have to pay your house payment and eat, continue operations with your investor parties or you'll die on the vine.Well, XYZ falls through, time to pay all the pipers.Wooops, and you say you're from the FBI, what is this all about?
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27 October 2016 | 2 replies
As I see my retirement in the future I am looking to find a solid and fairly reliable way to build a nest egg in the years I have left.
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27 October 2016 | 12 replies
@Kenneth LaVoie, over any extended period, of course capex will eat up some portion of your income - so likewise, SHOULD be anticipated in advance by apportioning it monthly - just like any other expense!
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1 November 2016 | 4 replies
So I would live, eat, and breathe real estate, and find a mentor where you can learn the ins and outs of this business.
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31 October 2016 | 11 replies
Why not have your cake and eat it too?
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5 January 2017 | 17 replies
If for some reason the rehab gets hung up and you can't get it rented right away, you have to be prepared to eat the monthly payments.