All Forum Posts by: Marcus Johnson

@Jim K.

It shouldn't be unless you live in a very inexpensive area of the country. My Roth IRA my 401(k) and about everything else performs better then my primary residence.

@Bruce Runn

Thank you so much for your advice, I called the builders and set up a meeting next week to get an estimate.

@Bruce Runn

160k was just a pure guess, I have no ide until get a bid. So you’re suggesting I get bids now? If I sent you my site plan and drawings, would you be able to give me an estimate. Lastly , how is garage space estimated versus living square footage.

@Benjamin Couch

I wouldn’t pay off a debt of someone that you are not legally bound to. What happens if you pay off her debt and then you break up, all that money is gone.

Once you marry you combine finances and then work together to pay off her debt. Keep saving money for your first single-family home and put a big down payment.

@Bruce Woodruff

Here’s what’s crazy about Airbnb, we haven’t been doing short term rentals for over a year, and we still get messages saying that we are now nine times Super hosts.  What a joke!

@Kaylee Walterbach

I never would've bought a starter home After getting married, I would have house hacked for a couple of years. I also wouldn't have taken on school loans, I should've spent more time finding scholarships and other ways to pay for school such as finding a cheaper in state school I wish I would have started investing in Roth IRA at a younger age because of compound interest.

@Eshmield Ruberté. Try a local bank, they can be very flexible with their terms. 

@Amy Raye Rogers

ADU's. I'm working on applying for one right now in the city of Minneapolis. The beautiful part is how much they've loosened the building codes for a more density rental population. Beauty is I don't have to pay for more land.

@Kenny Colato. Unfortunately the only way to build a credit score is to borrow money and pay it back. It’s the game they want you to play.

@Dan Bottiglieri

In my opinion if you were finance major you haven’t learned how to manage money because you’re already 75K in debt. I was a B student and you don’t have to be smart to get grant scholarships and work 80 hours a week to pay for college.. After watching the tech Paul, the recessions, the great recession, the house in bust and then the pandemic, you’re on your way to go and have a lien data not being able to recover. If you were my son or daughter I would tell you to stop, get a good job pay off your debts and then save 25% to buy your first rental property. Anything else you do it is a great risk and you could lose everything. Most people here want to say that it’s the only way to go to invest in rental property, but you can lose everything and go bankrupt.