All Forum Posts by: Craig Jeppesen

 Yes credit unions refinance cars all the time. Your interest rate will probably be higher as rates have gone up the last 18 m for car loans. If your payment goes up it might affect your dti ratio, but that is not a big deal unless it is already high. I say go for it, and use the cashflow to pay the car off.

I would ask for the $20, But would take $10. I would redo the roof myself for around $3-5 and pocket the money, but I have installed over 100 roofs before.

Loans can come in both fixed rate and variable rate loans. When you apply for a loan you should specify you want a fixed rate loan. You also want to verify this when you sign your life away at the title company. The terms of the loan will be on a document called the note. 

Also 6.75% is a little high right now. I just looked at rates and a30 year conventional 25% down is 4.875%.

What is your rental net iterating income not gross rent? Your dti without counting rental income is 57%. I am guessing your expenses are high on the rentals and they are on,y giving you credit for part of your rental income. I those numbers are right you have a pretty high dti.

It looks like the majority of owners (44 of 60) are landlords. Time to have a neighborhood owner meeting and vote for a new HOA board and change the bylaws.

Keep your letter, if you were to go to court it will be helpful. I would try to get the other landlords together and put some pressure on to change the bylaws. If that doesn't work hire an attorney. It should not cost too much if you can get everyone else to join you. Remember the owners own the HOA and the majority usually rules. Good luck.

So pretty much 90% of Americans and probably 95% of the world will be screwed just because total GDP will shrink by a small percentage over 6 months instead of growing at a small percentage. Oh geez what is everyone going to do?  You actually believe this?  Since you do, I am a saudi prince who is stuck in Idaho and need to get home. Please wire me $10k to get home and I will send you a $20k cashiers check for your much needed assistance.

Last recession was the worst since the great depression and I am pretty sure most of us made it out okay. I did not make 6 figures in 08 and I did just fine. If you need to increase your income do so by increasing your job skills and ask for a raise, start a side business, and invest in stocks and real estate.  That worked for me.  

@Angelo Acevedo welcome to BP. I live and invest in East Idaho. Currently have a flip I just finished under contract and closing later this month. I have also been a landlord since 08 and am saving up for a small multi family. I am more than happy to help. The market is still very hot and deals are hard to find right now.

I invest/live in Pocatello. Both Pocatello and Idaho Falls are growing a ton and there is a shortage of housing and the market is really hot. You shouldn’t have any problem keeping them rented. Invest for cashflow and not appreciation and you will be fine. Just curious where you are finding this deal. There are no duplexes in BFT on the mls.

Budget your money and stick to it.

Pay yourself first

Spend less than you make

Stay out of consumer debt

Don’t buy a new iPhone every year or car, keep them many years

Buy a house you can afford to pay off in 15 years, and don’t keep moving up or refinance, pay it off

Invest 15-20% of your income in real estate and stocks

Understand time value of money and let it work for you not against you

Discipline and time

Read personal finance/investing/business books often.

I would have your CPA write a letter about expensing the entire remodel. You could also get a commercial loc instead of a heloc. Commercial will use cashflow and assets to underwrite not your taxable income. I would try a large credit union local to OR.