All Forum Posts by: Craig Jeppesen

First rule to learn in investing is to not time the market. Investing is for the long haul not for tomorrow. You should be investing throughout your life in every market. I don’t expect a recession for another year or two and when it comes I don’t believe real estate will be affected. We are still in a nation wide housing shortage which will take a few more years to correct. I was at a conference last month and the Chief economist at Fannie Mae is forecasting 1.7% GDP for next year so they don’t see a recession either. The media is pushing for a recession as they want Trump out and know that a recession is the only way he will lose. That is the only reason you are hearing recession right now. Just look at the stock market. The media is fighting but the market is not listening and pushing through new all time highs.

Finance a car you own outright or a heloc on your personal residence.

Anyone that sells to Fannie Mae.

So if you flip it you make $6k? Are you refinancing it to keep long term? If so that is a big house and will have some big expenses if anything happens. Yeah I think you need to be more conservative with the numbers going forward.

Brrrs are fixer uppers and most wont qualify for traditional financing. That is where the cash part comes from. You can get that cash from your savings, a heloc, private or hml. 

Yes, many even do 15% down and a few do 10% down.

Both my brother and I flip houses in Poky. There are no deals right now. One deal hit the market a few days ago and I of course put in an offer. Me and every other investor in town. It ended up being a submit your highest offer and I did not win. 

If the payment was not included in the payoff amount you should get a refund. Not sure why you made a pmt if you closed the previous day?

The $10k is for schedule A not schedule E. There is no limit for your rentals; just your personal house.

I have only seen up to 20 years, but you can always renew as long as their continues to be equity and credit stays high.