All Forum Posts by: David Soest

If you buy a rental and you profit say $250.00 a month or even just break even, does the mortgage count against your debt to income ratio or does the rent cancel out the mortgage payment?

Thank you.

Your right. The agent called me back and you were 100% right.

Thank you.

I found a home in Missouri. It's a HUD home.

In the ad it says "contingent no kickout".

Does anyone know what that means?

Thank you.

We moved into this house to fix and flip 16 months ago. Living here and fixing as we could afford.

My advise for anyone acting as their on gc do not hire people from craigslist! 

Dope heads, drunks, mental problems. I've been through the at least 20 of them in the last 15 months and out of them found one good one. Then tonight the last room to finish I noticed the drywall was taped at the seams but none of the screw holes were done and the cover for the mud bucket was no where to be found!

Next house I'm going to find a way to get decent workers who don't leave a bigger mess than when they started and take some pride in their work.

I just got the course from Capital Rehab Group.

Watched the first dvd and had a question. So I called their 800 number.

The guy I talked to was very short. He didn't want to answer my question, just qualify me to join their group.

Once I told him I did not want to pay out $5,000. right this second he was done with me, but his answer to my question was " if I want to go it alone, use the course as a guide and spend many hours looking up the answers to my questions".

Not what I expected.

I guess that was my "Quick start consultation", they said was worth $397.00.

My original question was why on Zillow does it say "N/A" when I look at recently sold homes trying to find what they sold for.

According to them that's how you know what a repaired home will sell for.

I was not expecting much for $49.00 but a polite person on the phone was expected.

Thank you all for your help.

What is the % I will have to pay?

I bought a house, owner finance for 40K last year.

I've been living in the house and redoing it with my own money.

I hope to sell it soon for 100K.

I'll need to pay off the owner finance so I hope to walk out with 60K.

If I take 40K of the 60K and buy another house and keep 20K in reserve to do the repairs, will I have to pay a tax on the 20K?