All Forum Posts by: Jim Walters

@Brandon Shiflett Hey we can try to do that coffee in a couple weeks. Just PM me. Also, you better be careful on what you offer, because I may take you up on that labor 😀.

@Cory O'Dell I like investing in Piqua. Currently I have SFR’s there. In PIqua you can find cheaper houses in the middle of nice houses in good areas. The “bad” sections are not that bad. Plus it is not that challenging to find good renters. The deals are not as plentiful as they were a few years ago (of course) but there are still properties that can offer good cash flow opportunities.

Hey Brandon. Congratulations on your schooling. I live in Conover Ohio. Currently I am mostly invested in the Piqua area. However, I work with other investors who buy in the Dayton and Trotwood areas. I would be more than willing to help you any way I could. Good Luck!

I would say the answer depends what your goals are If your goal is to get to 40 units in 5 years, then you will need to take on a lot of debt to get there. If you are happy where you are at now with the properties you have, then there is no need for the additional risk. If it was me I would take the risk as long as I was able to determine if the economy tanked for a year or two, I would still be able to be solevent. Good Luck!

Maybe for your 1st property you buy a four unit that you live In one unIt using a FHA loan. Although there is still a down payment, it’s very small compared to other mortgages. A gift can be used as your down payment. Another option may be your tax refund check. Look for Multifamily units that the rent from the other units allows for all or most of your expenses to be covered. FHA requires you live there at least one year. Good Luck.

Luke, Congratulations on the deal! It’s always easy in hindsight to see 20/20. A lot of people are nervous about getting a deal done and stay idle. Be proud of yourself for getting the deal done!

Charlie Munger, Warren Buffets partner, says there are 3 L’s that can lead to going broke... Leverage Liquor Ladies

Congratulations on your purchase. Englewood Is great area. However, I would be skeptical of your realtors statements. I would have your realtor show you houses in Englewood in the $180,000 price range. Then do your own due diligence to see if your house can compete in that price range. This is a area were a lot of people look for flipping opportunities. Hopefully you found one a lot of others missed. Due your due diligence and see! Best of Luck with your purchase!

This is a tricky situation. From my experiences, it doesn’t make a big difference if you call yourself the Landlord, Property Manager or owner. I find a lot of people take Landlord more as the property manager than the owner, so I tend to go with that. Where I have heard people have some reservations about saying they are the owner is when they bought a multi-family property that they live in one of the units. I am told by some, that every time they say hi, renters are taking the opportunity to tell them what repairs need done. The way that works for me is walking through the house with potential renters and letting them know the condition of the house and what I believe they should call me about. During the walk they may ask if I would repair, paint, fix this or that. It helps set the tone of what to expect from me. It has lead to me receiving very few phone calls for petty things.

When making this type withdraw you must not only consider the 10% penalty, but also that the monies from the withdraw could be taxed at a higher rate. This is true for both Federal and State taxes. After the penalty and taxes many people are only left only 60% of what they withdrew. And if your state taxes are high, it could be less than that. A lot of people will say don’t take a loan on your 401k. This is definitely true if you are planning on leaving your job anytime soon. But, I believe it can be a beneficial way to get the money you need. A lot of experts will say loans can stop your account from gains in the markets. However to combat that, Your loan in your 401k like a stable value or money market fund when you figure out your overall risk assessment, so you still don’t miss out if the market goes higher.