All Forum Posts by: Blaine Bacon

4.2 million is part time? Gees... You are one heck of a real estate agent.

@Sunny Burns How did you get a 4plex and only put down 10%?

I like the spreadsheet too. It really breaks things down, and is simple to read.

If you refinance into a conventional loan, yes you can get another fha loan. I think you just have to stay for a year before you turn it into a conventional.

This is the best thread ever. Please keep it going. You should take your case to Judge Judy.

Hello, my wife and I are planning on getting started in REI in the next year, but for right now we are reading everything and building our savings. I have a question that I just thought of and haven't seen in a book yet. Say I hire a property manager to take over my rental for me. I know that some require the first months rent when ever they get a tenant for you. So do you ask for first and last months rent so you can get paid for that first month as well as the property manager? Or do you just depend on your reserves to cover you for that first month?

Thanks,

Blaine

That's correct.

If you are wanting to flip it, the fha or 203k wouldn't be a good choice because you have to keep those for at least a year.

I'm with them. Leave your money in the 401k for now. It's going to be earning a way better interest rate than if you stopped your 401k and put it in a savings account.

No, I'm still living there.

I wouldn't think so? I used money out of my TSP for a down payment on my house and they haven't checked up on me about if I'm still in the house or if I'm renting it out.