All Forum Posts by: Eric Munson

@Katie Miller 

I retired on 5/15/20(gave one months notice after 29 years of employment) at the age of 54. I will be using retirement savings(rule of 55), rental income and pension for living expenses. Will start flipping when I get bored:). Let me know if you want to hear my story of how I started broke and now have a seven figure net worth.

Thanks,

Eric 

@Victoria C. Evict ASAP! This is a no brainer. 

@Paul Allen - only use annual credit report.com...it's government sponsored and you are allowed 1 credit report per year. It will cost approx $7 if you want your fico score but the reports from the 3 agencies are free.

@William Pickett that NOI gives it a cap rat slightly above 8%. Is that market cap for the area?

@William Pickett looks like it's at a 10-11 cap using 50% rule which may not be enough expenses based on the age of the property. Also have to account for loss to lease etc. to get an accurate NOI. What are market cap rates in the area? Good luck

@Royal Liedecke

Very impressive. Time is on your side. I'm sure you have researched compounding interest.  Best of luck to you.

@Alex Shaughnessy - Usually there is a 3 month minimum and some do charge points as well. 

@Ben C. I wasn't able to post pictures from my iPhone 

@Ben C. - listed for $249,000.

Sold for $255,000. All cash.

I'm trying to figure out how to post pictures 

@Ben C. - I just sold a flip and used Fabuwood Galaxy Frost.

Buyers loved them! Sold over asking the first day listed. Kitchen sold the house.