All Forum Posts by: Account Closed

I wish I knew not to waist so much time and energy worrying.  When I look back over the years and the time lost not enjoying the day because of what might happen, it saddens me.

From unknown author, discovered in Dale Carnegie's

How to Stop Worrying and Start Living

Salutations to the dawn.

Look to this day!
For it is life, the very life of life.
In its brief course
Lie all the verities and realities of your existence:
The bliss of growth;
The glory of action;
The splendor of achievement;
For yesterday is but a dream,
And tomorrow is only a vision;
But today, well lived, makes every yesterday
a dream of happiness,
And every tomorrow a vision of hope.

@Ben Leybovich 

Defiantly the best answer, and had I not jumped in and ruined it with this post, would have been a great way for it to end.

@David Dachtera

Yes there is a lot of misconceptions out there.  That's why I asked;)

Thanks.

@Account Closed

I think your goals should be bases on what type of investing your interested.  It would be unrealistic to expect to make 50k on a rental.  Read an think about your skill set, level of involvement and long term goals and come up with a investment type.  Once selected the numbers will become more meaningful.  Welcome to the site.

Not sure how nice your home is but I would not expect a tenant to take care of your home as well as you did.  Your house has a certain market value right now and after 1 or 2 years of being a rental what might it be worth.  Just something to consider.  

the OP asked how to get the greatest return on his money in 1 year.  I don't see how a rental could achieve this.  it goes against the normal rate of returns for that strategy.  

IMO by law of averages an individual has the greatest chance of getting the best  discount on the court steps.  

Doing the work themselves will minimize expenses. A contractor can take half your profit.   

It may not fit the OPs risk level or skill set   In addition he might be in a saturated area for flippers and courthouse buyers.  However in general the approach provided should yield the biggest return in 1 year.  

@Account Closed

Yes BP is an awesome gathering place.

@Jean G. and @Kyle Evans

Not sure about your area, but in NY and Pa you can be your own register agent.  You can't get cheaper than that.  So I only have to pay for the one in Nevada.

@Tim Loughrist

A quick thought - you could contact the local code enforcer for violations, sewer and water for liens, tax collector for back taxes and talk to the neighbors. 

Maybe the previous owner had a sewer truck up there every 6 months.  It happened to me on a deal.  Got the house and started to talk with the neighbor.  Within the first minute of conversation he told me the tank was getting pumped 2 times a year. 

@Jean G.

Awesome.  Thanks you just same me some $$$.