All Forum Posts by: Carl Leonard

i don't think you ever too old.  My parents didn't really start investing in rentals until they were about 70 and its working for them.  

I'm in my 50s and I'm just getting started.

I suggest that you do like I have been doing and spend some time reading here.  I have the BP app on my phone and get an hour or two every day reading the site.  

Solar will not be getting much less expensive.  I have quotes that are between $4 an $5 a watt.  Since the panels and the inverter are only about $1.35 a watt the rest is mounting hardware, wiring, and labor.  If the panels were free the cost would only go down 20%.

I agree that solar is not a good idea in a general rental.  If it is high end and you could charge more to eco minded tenants, then it might make sense.

Roll it into a self directed IRA. Then you can use that to buy. There are some important limitations, but no 10% off the top and income tax penalty. Search for SDIRA as there is a ton of info here.

Some phones can take two SIM cards and support two actual cell numbers.  I believe that the app based ones are all VOIP.  They need a solid data connection in order to work well.  There is also usually a battery hit since they are always running in the background waiting for a call.

Master lease with option is where you lease the whole building with an option to buy.

https://www.biggerpockets.com/renewsblog/2015/05/04/master-lease-acquire-commercial-real-estate-money/

Number one is don't dwell on the past.  Look forward.  

First good credit is more important so make your minimum payments always. Otherwise follow the other advice.  Do whatever you can to make some more income, lower expenses, and pay down in order of interest rate.

Get a second opinion.  A replacement blower motor should be under $200 plus install hourly charge.  At least that has been my experience when I had to replace one in a system of a similar vintage.

While the motor may well be dead, it could be something simple like a motor start capacitor.  Once had a HVAC guy tell me my AC condenser compressor was dead.   I decided to I try a $10 start capacitor and I'm into the second year on that "dead" 30 year old compressor.

Then again your furnace is almost 40 years old.  Might be time to replace it.