All Forum Posts by: Jeremiah Dunakin
Jeremiah Dunakin has started 7 posts and replied 176 times.
Post: How many homes is your goal?

- Posts 186
- Votes 189
I have thought about the same thing. Sometimes I think that if things go good for me why not level up my lifestyle a little bit. Maybe be able to take an extra trip a year or maybe not scrutinize every purchase as much. It’s good to hear others growth
Post: How many homes is your goal?

- Posts 186
- Votes 189
I guess I’m a simpleton. I would like 5/6 places paid off. I would like to bring home after expenses 6k a month.That would tickle me pink. I never wanted to become rich ( though I wouldn’t mind it) I just want to not worry about my next contract at work, or if I have a bad knee and need surgery that I will get behind. I guess simple financial freedom is what I’m after. I have one rental and looking at the end of year getting another. This forum has been awesome
Post: Am I being too uptight in this situation?

- Posts 186
- Votes 189
pay a property manager 10%
Post: The cost of not buying.. the cost no one wants to admit

- Posts 186
- Votes 189
I guess there are a couple ways to look at. If I was to buy the same place I bought last year at the same price it would cost me an extra 200$ a month. I would not make any money at all. I also couldn’t get it for what I paid for it as it has appreciated a couple thousand.There is a lot of so called experts and YouTube gurus tearing people. People believe everything and spread it like wildfire. Another example I would pay an extra 300$ a month on my primary at 7% vs 2.75 that it was a couple years ago. Same house. That is a lot of money for most. The feds also are just now starting to signal that the rate hikes might maybe slow down. There are more coming. Inflation is still up 50% from what we paid for things 3 years ago (family chicken packs went from 8$-16$ gas 2$-4$ a 2x4 1.79 to 3/4$ was almost 9$) couple that with crippling regulations and no one can afford to build a house. If rates were higher but home prices were down it would make more sense but rates are high and prices are high. Usually I would want one or other. High rates low prices higher prices lower rates.
Post: What do your coworkers say when they find out you invest in real estate?

- Posts 186
- Votes 189
Quote from @Doug Spence:
@Account Closed That reminds me of another one "My buddy has a property and his tenants didn't pay rent for 3 months so I'm not going to invest in real estate" or "My buddy's property was trashed by tenants so I don't like real estate". People let one bad experience, or someone else's bad experience prevent them from even getting started!
I think many people are just afraid to get started and/or unwilling to put in the effort and time it takes, and just used these anecdotes as excuses.
Agreed that “buddy” is all of my co workers “cousin” . Yet they will quote worn phrases and the whole world will act like they Jeff bezos. “Buy the dip sell the news” “buy low sell high”, intrest rates this or that, that’s way too much, just paint it, all you gotta do is……, my cousin has this type of renter and no problems, I will buy when so and so out of office, I would charge way more for rent than that, no way I would pay that for rent, I wouldn’t play with tenants I would evict them immediately,no I’m not letting them in they don’t pay rent they ain’t comin in end of story, here is what I would do, when the market cools off, I’m gonna buy for 16k and flip it for like 300k in a week, I would work with my tenants, not everyone with a 125 credit score and 22 felonies are bad renters just because they have been evicted 4 times doesn’t mean they would be a risk,I would give people a chance,
Post: What do your coworkers say when they find out you invest in real estate?

- Posts 186
- Votes 189
Quote from @Julien Jeannot:
I get a lot of unsolicited "wise" advice.
"I'm waiting for the market to bottom out."
I do too. I have one rental that I poured my heart into. I researched and poured over materials. I rehabbed it mostly myself while working seven days a week 12 hours a day at my day job. I then get someone that watched a YouTube video say something corny like that. I’m waiting for the market to bottom out, or “they say ( who is they ) prices are goin up, or you did too much work on that I wouldn’t have done that. Got a million answers but no skin in the game. I get so frustrated with them especially when they want advice and don’t listen or tell me I’m wrong. I may not have done everything effect but I tried. If they know so much go do it
Quote from @Konstantin Ginzburg:
That first real estate investment is without a doubt, the hardest one since it requires a leap of faith. If you feel like you are at the education level required to take that plunge, then sooner or later you will simply need to jump in. One strategy I used that helped ease some of the stress for me on my first property was selecting a property where I knew I would be able to pay the mortgage costs even if we were not getting rented. By ensuring I had the financial means to pay this expense in a worst case scenario, it allowed me to dip into real estate investing while limiting the stress I would be placing on myself if things did not go smoothly. Once I took this first step, I became far more comfortable with the process and was able to apply everything I had been reading and researching prior while at the same time, learned far more from actually taking that plunge.
That is good advice Konstantin. Like it or not the physiological aspect of real estate is real.However putting in some safeguards mentally go a long way.
Post: Pacific NW - Anyone willing to donate a couple nights to a missions couple?

- Posts 186
- Votes 189
Quote from @Austin F.:
Quote from @Joe S.:
Everybody wants to free load on churches as a charity.
Well when you don't pay taxes....
off.
Post: What are reasonable bathroom remodeling costs?

- Posts 186
- Votes 189
Quote from @Bob S.:
Quote from @Ned J.:
10 k for that bathroom? WTH..... that's 10k of material alone around here.
Price seems WAY high for basic shower only...entire bathroom remodel, then sure..... but not just a basic shower.
AND if you have that much moisture in the walls, be prepared for surprises when you demo it
Post: Yes or No to ceiling fans in rentals?

- Posts 186
- Votes 189
Quote from @Alan DeRossett:
Quote from @Jeremiah Dunakin:
Quote from @Alan DeRossett:
Quote from @Colleen F.:
@Richard F. Why not kitchens and dining rooms? I get the bathroom it should have an exhaust fan.
Kitchens need exhaust fans too or you get unhealthy air recirculated from cooking,
We will be using an eco-dashboard that monitors indoor air pollution like C02,
Wow fair enough. Did not know that. Cool to learn something new. Indoor air pollution what a world we live in.