All Forum Posts by: Kurt F.

@Westin Hudnall 

Sounds like you want to rent to the guy. You could've checked out the details before posting and gotten your answer, and at that point posting a thread would've been pointless.  

I'm thinking about partnering with a guy who's been stabbing people for about six months now.  I doubt this points to his character is any way.  Thoughts?

 Same thing.

I'm enjoying the need for these unknown "details" that some of you are lacking, apparently in order to wisely decide what you think.  Yes, hmm -- exactly what DOES happen during cheating?

Thanks all for the input so far.

@Phillip Hunt 

 Nice approach.  Left to my own thought processes only, that is exactly the path I'd likely follow.  I'm really more of a "plodder", although that just doesn't sound very cool... 

@Mark Elliott   and @Doug McLeod 

  Your ideas sound like something I've been considering.  I'm pretty conservative toward real estate, but I've been wondering if I should essentially "spread out" my equity, at least into one more property -- maybe another duplex.  I'd need to really study up on exactly what this approach might entail. 

@Jean Bolger 

First off -- thank you much for your time to write the long list of advice for me -- very considerate people on BP!

Your first paragraph is something I am considering as a viable option.  Take out the equity and buy another property.  The 27K down would pretty easily get me another 2 or 3 plex, but that wouldn't count all the additional expenses from the transaction.  Or, the same 27K might represent the downpayment and some expenses on a "lesser" duplex in need of some rehab, which is fine as well, and very much within my wheelhouse.

Your idea of renting my current personal residence and buying another house to live in is interesting, and it has crossed my mind once or twice. My home is paid off, and in a nice neighborhood. I doubt that it would be very difficult to rent. However, if we were to consider the 2% rule, I can't get that level of rent. More like the 1 to 1.25% level. (Not even sure how the 2% rule applies to a paid-off property?) But rules aside, I could buy another house of about the same value and "break even" on the PITI for the new place. The plus side would be that another property would be building equity.

So far several have said that they really can't say one way or another here due to the lack of facts, or that there is more than one side to the story, or that we don't really know all that is going on, etc., etc.    Well that's fine, and probably meant to sound cautious and wise, but don't these same individuals certainly post some awfully definitive advice on so many other topics?  Point is, seems like some of you are dodging a little.  As with most threads, we need to take the OP largely at his/her word, and make comments accordingly. So, if we take Mohit at his word, his friend is cheating on his wife and has been for 6 months.

Of course, you could choose to believe that is lying, but that would really be a non-sequitur in the context of Mohit's question -- not unlike, say, when someone posts that they own a 4-plex and they need advice on how to paint it, you decide that wait a minute, there is probably a good chance that they don't own a 4-plex, and you need more information.

The question regards the immediate.  A deal is on the table right now, and right now the intended partner is cheating on his wife.  The partner -- the friend -- is engaged in a moral breakdown.  For those giving advice, you can certainly choose to not care about this fact, and suggest that Mohit make the deal.  Similar deals are done under contexts like these -- and much worse -- every day.  You won't be alone.  But your answer should the be that Mohit should do the deal, and not that you need more information. 

That's my opinion. It's also my opinion that Mohit should not make the deal since he knows about the affair.  Then, as a friend, Mohit needs to help his friend get off a bad path.  People make mistakes and get turned back around with the help of good friends every day.  Do that. 

@David Tomich thanks David -- I like your conservative approach -- at the same time, I feel like I need to move forward in some smart way.

@Sylvia B. -- Sylvia, I'm not at all knocking your reno, which as I've said looks great!

I'm just pointing out a detail that can make a nice difference.

 How many affairs would you say a man needs to have to qualify as having a "severe character flaw"?  Like 5?  or 50? 

Your reasoning sounds like you've never known a woman whose husband is cheating.

One is more than enough to qualify.   

-- I agree with your post, except this part.  I don't think it's a great habit to regard bids / estimates this way.  I look at large commercial bids, T&M proposals, change orders, etc. etc. on a regular basis.  The 'how they arrive' at the bottom line is always a big concern.  You can easily end up with the building equivalent of a beautiful suit coat but no pants. 

Other than that, some good points have been made to the OP, and I'd fully agree that often when you try to outsmart industry standard pracitces, it just doesn't work in your favor.