All Forum Posts by: Kevin Coggins

@Harjeet Bhatti I don't recall the specific numbers, but believe the variance was $50 at most.

@David Faulkner For the specific property that I had offered on, I would have been refinancing so you're right that it'd be less in PMI. Ended up not getting the property (for now at least), but slowly getting a better idea of where I want be finance wise...and I'd never be going for a deal where the difference between 15 and 20% would matter. I think it'll mostly come down to what the price i'm paying, rehab needed/holding, and my cash available.

@Sean Carroll I had no clue about the 15% until I asked around a bit, the 15% was through a smaller bank. We ended up deciding to try and default everything to put down 20%, but for strategic purposes and keeping cash on hand it definitely may be best to go the 15% route. I guess if the numbers work, it doesn't really matter at the end of the day haha.

@Caleb Heimsoth That's not a bad idea either! As long as the numbers work and there's money set aside for repairs/holding...either way works good in the end.

Where do we sign up?

@Chris Armstrong I'm not looking for a way to get rich quick. All I did was make a post asking for ideas to get a better return than 1% and I already have money elsewhere to purchase a property. In order to see what others are doing, I posted this and got some good ideas...I don't think you read the initial post and just said something to say it.

@Ray Lai Completely agree with you about P2P and that the bank idea is

@Bill Regan Is it $1/mo + fees for the ETF? Either way that's pretty cheap, although I don't own a smart phone so I can't download the app ($15/mo for my plan haha). There is a website similar to this called Motif, they have the same type of deal as what you described. I've never really gotten into those, normally I just go with the traditional ETFs (REIT included).

@Chingju Hu That is a serious emergency fund! 

I never really considered doing that for the bonus, although it definitely sounds better than a few bucks a month. Looks like there's at least a few banks that I'd be able to get the bonus.

Equuis Properties, LLC is owned by Chris McCormick.

You misspelled the guy's name you were vouching for, just a heads up.

@Ernest Chamblee I'm planning to keep $2k in a reserves account getting 1% interest. With my $250/mo (disposable), I will add a new sub account on my investment account specifically for this. Invest the $250/mo into ETF/Index Fund(s). Also, once I need to buy a new used vehicle, I can use these funds, plus the sale of my current car to pay cash. Seems like some people are more aggressive and others are more risk adverse. Just gotta do what I'm comfortable with otherwise I'll end up stressing over it haha.

So nice of Chris and staff to come on here and vouch for themselves!