All Forum Posts by: Account Closed

Sorry to hear that @Christopher Lane! Hang in there. Only you should carry the weight of responsibility for the hard decisions that have to be made overall, so only you can make the right decisions, considering what’s best for your wife, family and community. You should be going for financial freedom from careers! Good for you.

I agree @Christopher Lane, great place to be honest about experience level and difficult situations with the real people that are doing financial freedom the steady way!

@Melissa Kirchhoff ok, sounds good. You’re right this is in VA not CA. I’ll have to check with the local lenders for the low down on this and maybe a couple big banks also. Great tips, thanks.

Wow @Jason DiClemente, I just got a lesson on mini split systems from YouTube. Thank you. Those are really cool and I’ll have to look into pricing. Another guy on here, pretty sure his name is Mark Fries, hires guys to put in used A/c units. That sounds like something to consider. I’m starting to like the idea of doing the HVAC system myself and maybe hiring out a refrigerant certified guy to prime the mini split etc. Very cool idea and I like the simplicity. Thanks for the tip.

Thanks @Aaron K., I’ll have to call some lenders and maybe even ask the seller’s agent if he knows anything. You are 100% correct, haha the house isn’t even close to San Diego. It’s in the mountains of Virginia. We’re moving to East Tennessee, so I’m starting to invest in low risk house flips or rentals. It sits on 1.75 acres though..

@Shanese Francis If another recession like ‘08 hit, that would be brutal for many who bought at these prices. Once everyone started forclosing, it spread and people didn’t want to be paying insane $ while others were getting in way lower so everyone foreclosed where I lived in South CA. Foreclosure signs were everywhere! Maybe the market would be slower to bounce back because people might start to question whether the prices belong up, or down. However you look at it, you just have to do your best with what you got. “If” there was a recession in 2019, like your question posed, then I would gain as much RE intelligence and connections before that as possible because recession spells opportunity for the RE intelligent investors (or lucky investors).

Hi I’m about to sign into escrow on a bank owned foreclosure with my first private lender partner who will fund the purchase price @ $15.2k. We plan to rehab and sell looking nice for $45k or more. I don’t want to go to the expense to add central A/C or a furnace. If I were to put a window AC or two in and a couple wall propane heaters on the walls, would a bank do a conventional loan for a regular buyer on something below $50,000 that doesn’t have central heating and cooling? Any help is appreciated.

@Kurt Michaelson Hi Kurt, I’m living in Elsinore rehabbing a couple rentals right now. I know the area pretty well and have had a lot of exposure to the different areas here and might be able to help you estimate rehab needs. If you want me to take a look at it with you, I can swing by sometime. The area is getting pretty hot and the city plans a new super Walmart by central. I think it’s a great place to invest, but building in CA can be a blow out. KB homes just north is obviously building the heck out of those hills. There’s also plans to add fast track down to Elsinore so Elsinore is becoming an option for LA commuters, my neighbor being one of them. Back in 04 I built a couple spec homes with a contractor here and they did well.

@Daniel F. Harb. I try to stay out of stocks and just do real estate. Please buy ROKU!

@Marisa Rowe $1500-2000 m 2 year goal. 4 houses purchased all in for $20k ea ARV rent, for $500 each on average owned outright Lifestyle accommodations: - Small spending wife - Own home - Self Employed seasonal Home Improvements/ Job to Job basis - Incomplete home for 1-2 yrs Reasons: Live in country Have milk goats Low taxes FREEDOM and space Help others more wIth free tIme END GOAL: FINANCIAL/ lifestyle freedom. (20k per month would be really nice but not needed)