All Forum Posts by: James York

@Michinori Kaneko I believe it’s a function of the percentage of available credit used. I experienced the same and looked in to it. $90k out on a $300k heloc probably does little to your credit. $90k on a $95k heloc is approaching maxed out. I was told under 50% shouldn’t impact credit. 

I’m getting in to my first rentals, but want to make sure I don’t do things improperly. I have w2 income and 1099 income. If I have losses (depreciation etc) on my rentals in excess of the rent, they should be able to offset some of my w2 income. If I do this, will a lender look at it as a true reduction of income or see it for the tax advantage it is and disregard the “loss”?

@Jack Flash if you’re using the NC standard offer to purchase, the earnest money is held by escrow agent at time of contract. It’s not “hard” until 5pm on the due diligence date. After that, it goes hard and is only returned by closing or seller breach. If you’re using any other contract, I’d read carefully to see what it says. Are you working with an agent?

@Jaron Walling I'm building 4 SFR for rentals right now. I've created a model to control costs and it's pretty efficient. The duplex would be pretty similar on cost/SF as compared to the single family. At least in my case, it's apples to apples on cost (savings in one area equals similar cost somewhere else). I'm most interested in opinions on what people would rather have and why.

Would you rather have a duplex or two single family properties next to each other? Either option would be new construction and the duplex units would be substantially similar to the single family homes in size and features. 

The A in Zillow stands for accurate. 

@Terrell Garren where are your projects? I’m doing the same off Old Charlotte. 

How do you identify new markets to invest in? Is it arbitrarily searching and stumbling, asking for ideas and moving from there, something else?

One Thing- Gary Keller

Who Moved My Cheese - Blanchard

4dx - Mcchesney

BRRRR- Greene

Richest man in Babylon 

@Ibrahim Hughes I’ve recently been through this. It’s very difficult and discouraging. I’d chase a lead and be told “if we had something for you we’d tell you”. With other people who could have been beneficiaries, but don’t want it known, it’s hard to confirm if things have been paid as they should. Use this as a reminder to get your affairs in order for your beneficiaries’ benefit.