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11 March 2024 | 25 replies
Market rent for each is 1950-2100 (the 1600 tenant was there when I bought it and super low rent but great tenants so i made a plan with them to raise it to market over the next three years as the jump would be way to much all at once). mortgage currently with insurance and taxes escrowed is 2100.I have a really low rate which makes this decision hard but the equity would help me fund the next 2-3 deals and enable me to start scaling faster
11 March 2024 | 7 replies
Dont suppose I'll get it...again, i've never done a real estate deal other than purchasing my house over a decade ago. without experience there's just so much i dont know.networking is a sore spot, i'm just not a people person. thats one reason i look at real estate. since i plan to have any properties managed, i wont have to deal with a lot of people. i imagine you'll scold me for this but whatever. i'm never going to be a people person and thats set in stone. it's something i have to work around not overcome.It seems I always get to the same point with real estate where I take the safe and easy route and leave my $ invested in the stock market. the thing that appeals to me about re, and i'm more focusing on rentals, non b&b, is steady income with an appreciating underlying asset. whereas the market is up and down. i can get totally safe 5% from short term bonds, but i know my principle is withering away from inflation (i dont believe the gubt bogus 3% cpi). with a rental house i could get 5% rental income, and the house will appreciate ~5% a year. that's a huge difference. the other thing i'm somewhat interested in is flips, but same story there, i just dont have the knowledge, and all the reading this forum or watching yt's in the world only gets to the surface as it's all airy generalities.
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12 March 2024 | 21 replies
You might suggest they locate and use a real estate attorney to assist with this plan .
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10 March 2024 | 3 replies
When I interviewed my current 100% commission broker I laid out my plans as an investor to which he was good with.
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9 March 2024 | 0 replies
I have 20k saved and plan to use an FHA 203K loan and house hack to net zero/cash flow minimally on my first investment.
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9 March 2024 | 3 replies
We have selected the builder plan and options for the structural changes back in January 2024.
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10 March 2024 | 4 replies
If you plan to hit up some of the local networking events, let me know and I'll probably be there myself.
9 March 2024 | 5 replies
Yes thats no problem as long as you plan on residing there.
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11 March 2024 | 11 replies
High-interest rates on credit cards can add unnecessary financial burdens, so it's advisable to have a clear plan to pay off the balance promptly.Considering an auto equity loan on your Ford Fusion or a home equity loan on the mobile home are worth exploring.
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9 March 2024 | 3 replies
My plan is buy and hold a long term rental first and then slowly evolve into short term rentals.