All Forum Posts by: Matt McGuire

Yeah I think I misunderstood. I was talking about tearing a house down because it was in a flood zone. But now that I look at your original post I realize you were talking about raising it above the flood level. My mistake. 

I just listened to episode 373 with @Lee Ripma and she was talking about razing homes in California. She said it costs her about $20k-50k for a 6000-7000 sq ft lot. Its about 55 minutes in if you want to go listen to it. But its a great episode too so you should listen to the whole thing. 

Tonight's the night! I have a couple of RSVP's from eventbrite, one on this thread, and a couple texting me but I'd like to get some more people involved. If you are serious about real estate its time to take action. If you listen to the podcast you hear all the time that going to meetups and establishing relationships is one of the most important parts of the business. Come out and meet some people tonight! I hope to see you there. 

The event is 9/17 rather than 9/14. My mistake. It is this coming Thursday. 

@Joseph Odusina

It is at Pacific Yard House in Conroe this Thursday 9/14/2020 at 5:30pm

If you live in or around Conroe, The Woodlands, Spring, Willis, Humble, etc. come out and get to know your peers! We will be networking, sharing stories and making meaningful connections. This wont be some big production, just real people getting together to talk about real estate. I hope to see you there!

I am in a similar situation and came looking for a thread like this to see what others thought. 

Ultimately, a vehicle isn't an asset. It doesn't put money in your pocket, and it will eventually depreciate and outlive its useful life. I think buying assets with available cash is a better use than paying off a vehicle. That being said, I think it is important to eliminate debt in the long term . To me it makes sense to buy a low priced vehicle and hold it for a long time. You do reap the reward of not having a payment once it is paid off. Recently, I've been playing that board game Cashflow and in that game, you have the option to pay off debt or buy assets to increase cash flow. When I play that, I eventually pay off the debts, but it isn't until I have at least a couple of investments. The goal in that game is to increase passive income enough that it covers your expenses. If you use all your cash to pay off the debt, you cant afford a good deal if it comes along. The key word is passive and I know that can be debated about real estate, but my point is you want that money coming in from another source rather than just your paycheck. 

If you haven't played that game, you can play it for free on the Rich Dad website and its pretty cool. It is definitely outdated but the ideas are still relevant and gets you thinking differently. 

Yeah if we still cant get together in person next month I will make it virtual. I just think everyone is kind of over the Zoom meetings at this point. And with the combination of low bandwidth, distractions, and overall shyness I wasn't sure how effective it would be. Obviously we would all prefer to be able to meet in person but I suppose any meetup is better than no meetup.  

These have been put on hold for the moment with all the Covid protocols. I do intend to resume them though. 

@Todd Rasmussen

I did not consider that but what’s done is done. We shall see if it causes any problems. Hopefully not 🤞