All Forum Posts by: Joel Mitchell

One day lasting and went for $239,000.  I just do t understand the math on this. 

This will be on the market for less than 90 days and will sell close to asking price. I can’t figure out how people are making any money in this market. But they keep buying them. 

Currently renting and this would be a house hack. 

I have checked like property rents and rentometer. It is line with the other properties. 

Oh but real estate never goes down! Lol, in my area I feel that the market can hold if not grow. My market wasn’t really affected in 2009. Been thinking about it all day if this is a investment or speculation. I figure if I held the property long that is ok as well as it still cash flows. 

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The plan is to rent for five years and refinance or sell for a profit of $23,000 on a near no money down deal.

1st thing I would do is consult my council to see what my options are. 

There for a minute I thought I was just crazy but you have made me feel much better. I will run my calculations from purchase price with equity and cost of refinancing to achieve a positive cash flow. I am trying to adopt the idea of making good deals. I have found that equity can play a significant role when trying to cash flow. 

I have a service animal and the rights for service animals and emotional support animals vary greatly. I will tell the big difference in these two is that the animal has to perform tasks.  I think it is a minimum of three under the law. It is legal to ask what task does your animal perform for you. This is what I educate every business I can through my travels. It helps us a ton to educate everyone and have everyone ask the right questions. Each state varies on service dogs in training as well. In my state service dogs in training have the same rights as service dogs. So be careful there as well. In that case you can still ask what tasks the animal is being trained to perform or what’s organization they are helping. Please ask questions!

Thank you. My rent is currently higher, so I don't currently own a home. My thought was to live in one side with a roommate. This greatly lowers my cost of living and I can pure on the cash and build the equity. Should be about a year or two before I can refinance with 20 percent. I need to figure my break even cost on selling as well. I haven't looked at that much. I think it would be wonderful for someone else to help me build the equity to get to the next deal. I like that idea better than a SFH that I am solely responsible for building the equity.