All Forum Posts by: Kristopher Hanks

There are plenty of people on here that take action. This is the place to find like minded people. Welcome and good luck. 

No time like the present. The faster it is in an income producing asset the faster you attain your goal. 

Let's shoot for Dec 17th. I have my section 8 class at 10 am to 1130 am on that day and my flight out isn't until 7 pm. And of course anyone else that is reading this thread is welcome to join. 

If you use the money to invest in real estate and you are receiving anything higher than an 8% return, then that money taken out on the loan is not even missing out on the growth of the market. It is growing in real estate rather than stocks and bonds. And let's be honest, if a 401k does any better than 8% per year over it's lifetime then you have a great 401k plan. I have no issues with using 401k money to buy real estate. When the market goes down, the rent you are collecting does not. 

@Christopher Blanco 

@James Wise I am going to be in Cleveland in the middle of December to complete a walk through on one of my houses and I am attending my section 8 class on Dec 17th. If anyone is interested in the proverbial coffee meet-up I am down. I am an unashamed Starbucks Addict. It's my girlfriend's fault really, but anyway, I am trying to book my travel right now. If not no worries try to catch you when I am in town at some point. 

One house at a time my friend. That's all that we can do. There will always be crime in big cities. But everyone needs a place to live. 

@Christopher Blanco Yes the crime is high in that northeast area for sure. I don't mean to sound like an activist but I hope that some of us investors band together and get those properties fixed up and put decent tenants in those houses so we can slowly turn that area around. I am having the tenant placed by the guys that rehabbed the property for me. From the sound of it she seems to be a decent person. It is my first experience with section 8 so I will report back in a couple months to let you know how it's going. 

Webinars. Try to make it to them every Wednesday. They are very helpful. Careful with the condo market in Las Vegas. Since the housing downturn it seems like a lot of the communities have high association fees. Those can be a killer to your investment. 

First off your subject line made me chuckle. Don't let the first bad deal scare you away. Keep going forward. Attend the weekly webinars on Wednesdays. There is a lot of great information in them and there is a different subject every week. Search through the community section and read old threads. They will be very helpful. Welcome and good luck.  

I just bought two properties in Cleveland. I have not gotten to the point to where I have looked for taking out HELOCs yet, but I would love to find out if anyone has had success doing so as well. Good question.