All Forum Posts by: Anthony Gayden

JD Martin I agree with you, and add to the fact that most of the travel credit cards have annual fees and it just doesn’t seem worth it to me.

Originally posted by @Nate S.:

Originally posted by @Anthony Gayden:

Nate S.

What are you trying to accomplish with the refinance? Are you looking to sell the home after fixing it up?

I want to fix it up so I can rent it out later on. Thing is the mortgage is in my moms name. Should I wait out and refinance it until the HAMP is exhausted? it will end in 2019.

Assuming you are going to use the house as an investment, I suggest you fix up the house before you refinance it. That way when you go to refinance you can get the refinance based on the $125k ARV. If you do it the other way your refinance will be based on a lower value.

Abimael Rivera-Lopez I personally would sell the house and use the 1031 exchange to move into a different market where you can get both cash flow and appreciation. I would hate losing $650 a month. That is way too much.

Archie Sharp That is great, however I don’t really consider that investing. Still if you are pursuing this I suggest you treat it as an investment in terms of raising funds, purchasing, and managing any properties. Being a nonprofit does not mean you are a 100% charity.

Nate S. What are you trying to accomplish with the refinance? Are you looking to sell the home after fixing it up?

Joe Marshall There is a reason you keep hearing about BRRRR is because it is a proven excellent method of investing and building wealth.

Originally posted by @Jim Sestito:

Hi BP,

Looking to keep an elder family members property in the family as opposed to selling right away and 'killing the golden goose.'  It has been hard to get other members on family on board.  Does anyone have an easy read / article / video / podcast they would recommend showing the power of real estate investing leading to generational wealth?

Thanks in advance,

Jim

 This might be a losing battle. If you want the property, I suggest you look at it from the perspective of an investor. Would this property make a good long term investment? If you were to buy out the other family members, would this be profitable?

Do not become emotionally attached to it because of old memories.

What I have seen in Omaha is that developers are building a lot of housing in the $350k and up price range. There is very little new housing being built in the $150-250k range. That is the range where the grand majority of people around here can afford to buy. The result is a very competitive market in that price range with very few listings. Homes selling over list price, bidding wars, etc. Older home values have appreciated a lot as people have decided to settle into those areas because there is no alternative. My solution to the affordable housing issue is simple. Build a lot more housing. Stop the ridiculous regulations, fees, and other BS that prevents investors from filling the gap.

Michael P. Good for you. I on the other hand would gladly use my FERS pension to invest in real estate. I’m not afraid and I am 100% certain the returns will be far higher than the pitiful annuity I will receive upon retirement.

Does real estate investing ever seem like a giant pyramid scheme to anyone else? The way loans, lending, payments, and everything works almost seems like a pyramid scheme. Throw in syndications and private money and you can see the similarities. The reason I bring this up is because it seems like there is a very thin line between legal and illegal practices sometimes especially when it comes to borrowing money or raising money to invest. I was watching American Greed and it occurred to me that some things aren’t pure black and white but things get out of hand quick.