All Forum Posts by: Josh C.

@Thomas Rutkowski

Not sure what this graph is. But your position is a combination of whole life policy and RealEstate investing is better than (that same monthly spend apples to apples in month dollars invested) term life and RealEstate? Hmmmm?

It depends on the thing. As mentioned above you are not going to find anyone good to show up and do a job for $14/hr and do a good job. Not going to happen. I still jump in every now and again and I pay myself a lot more $14/hr and enjoy having a finished product.

@Sawyer Dina

Unfortunately no. I as mentioned before no bank with give you money unsecured. By that I mean not guaranteed by assets you already have. Like another house with no mortgage or low LTV. Or a established business with years of cash making history. I have a line of credit that I can use for whatever I need for my business weather that's new purchase to roof or parking lot. But that amount is only up to 80% of the value of my existing property. For example a house worth 200k with a mortgage of 100k can allow me to borrow and extra 60k. So I can just take out 60k whenever I need it. But if I sold that house or didn't own it they wouldn't just give me 60k because of how smart or experienced I was. They only loan on hard assets.

What you are asking for is a loan for downpayment or purchase tied to nothing but your smart butt. Also called 100% financing.

Not going to happen via bank period. Hard money, family, friends are only option.

Banks will want 20-30% down. And flips are very tough but possible to find a bank to lend on those. To get that 20%-30 you need family friends or hard money. Just is what it is. No bank will give you a big unsecured line of credit or accept 5% down unfortunately

Good luck and that is great work experience you have.

@Paul Shannon

I have one I like if you live here which it seems you do. Shoot me a DM and I’ll pass on the name of bank I use. I here forum credit union on the forums a lot but I’ve personally never used them.

Locally I haven’t met many but seems a lot here. BS in ME with a controls focus. Did factory automation for several years and left that world for real estate. It was a tough leaving that nice salary and flexible schedule, but glad I did. 👍

@Jason Ma

The reason there isn’t Starbucks is because fountain square has worked hard to keep them out and maintain local companies. Side note I think I know that building you are looking at and studios and shares utilities can be a bear depending on factors.

Good luck!

@Nick Giulioni

#3 is super cheap. I think I pay like $200 a year for 2MM. That’s the easiest one on the list. I typically do 500k liability per property (or 1MM if a bigger place) as part of the standard rental policy, then the umbrella policy on top of that.

Worth your time to look into.

@Prab C.

It depends on what it’s actually worth too. If it needs 100k of work and you buy it for 20k and put in 100k work while it’s accessed at 95k they are unlikely to lower it to the 20k buy price.

If you bought for 120k and it’s worth 120k and accessed at 200k you have a chance.

“We are currently in the last peak before a massive drop”

How can you say this? How can anyone say this? Then sell all your stuff and move, Right? Get out before the bread line get too long and seed prices surge.