All Forum Posts by: Kristopher Hanks

@Hector Valles I grew up in SoCal. If I was in your same position I would invest out of state to avoid unfriendly landlord tenant laws that exist in CA. I am a buy and rent investor and I would advise that you do your homework and then decide what you want to do. But in my very humble opinion I believe that buy and rent is the perfect way for you to invest at your age. Income replacement will grant you the freedom that you seek. Find a high cash flowing market, which you can do on this site, and pick one. Do homework, read, study, ask more questions, and then do not get hung up on the analysis and pull the trigger. With a $140,000 in cash you can do a lot with that. As far as buying or renting the place you live in, that's a decision that only the two of you can make. Do you plan on moving out of the area that you currently live in? If not I would buy something. Interest rates are still low. Keep costs under control and build some equity in the new place. Good luck. 

@Dewain J. I always have a walk through clause and an inspection clause. All the properties that I have bought have been advertised sold as is. I could care less what the seller wants. If he wants to reject my offer based on inspections clauses so be it. I refuse to buy a property as is unless I have had a chance to find out what is wrong with it. As is means there is something wrong with it. If it is a bad foundation then kiss any profit or cash flow good bye. I have not had anyone tell me no when I put in walk through and inspection clauses when offering on an as is property. I walked from a property I had under contract when I found that the foundation was shifting and the seller lied on the disclosure form when it asked for any shifting in the structure specifically the foundation. I got my earnest money back because I had the inspection clause in the contract. I would rather not get myself trapped in a bad purchase by waiving my right to do due diligence. 

@Mike McCarthy Welcome.

@Chris Roche Nice!

@Rohit Akhauri Welcome and good luck with your future investments. 

@Benjamin Alesi Welcome and good luck with your investments. 

@Jason Kaufman Welcome and good luck with your future investments. 

@Nicu Vlad Type the @ sign first, do not hit the space bar, type the first three letters of the person's name and a drop box should open up showing the person's name or a list of possibilities that match who you want to tag. Use your mouse cursor to select the name you want and click on it. The name will appear blue if you did it correctly. 

I would have estimated about $150 for insurance so I think you are close enough there. 7% works for cap ex and repairs. $120 per door on a quad with financing is a pretty good monthly cash flow amount. That would work for me. If all of your data entry is correct, I would say it is a good long term investment. 

@Jayson Lesyk Thank you. At this point I am only doing fix and rent. I have considered doing to lease to own down the road. Right now I am still building my rental portfolio.