All Forum Posts by: Mike H.

Nice one Joshua. What about health care? Edit - I mean what about health insurance. 

It doesn't seem like a good deal even if your gf rents it at 1950 right? Still cash flow negative. Way cash flow negative. Why would you put new floors in a place you're going to lose monthly in already? I see people responding to your questions about the 1700. I agree with all them. If it was me I'd list it and find a tenant that qualified. One of this girls friends or family should put her up. Good luck 

Haven't seen anyone question your comment about city appraisal. Do you mean the tax appraisal? You need to determine an arv based on comps then back out repairs and remodel to determine a market value of the current house.

Read about real estate. Figure out how to make more money at your job. Work two jobs. I worked at a hotel and delivered pizza in my off time to get my first two properties when I was in college. 

Also find a good mortgage broker. Sit down with them and ask them what you need to do. They will tell you how much money you need to be making and how much down payment you need. Then make a plan and do it.

I guess it could be worth 200k if an owner occupy was willing to pay 200. But Jay is right. To an investor it's not likely to be with 200.

Class act here on display. Can't believe the alleged lengths at which this couple went to break the law. 

https://www.dailymail.co.uk/news/article-6356775/Airbnb-landlords-agree-pay-San-Francisco-2-25-million.html

Figure out what work you can actually do yourself in a timely manner. The other stuff find subs that come in and bang it out quick. Biggest mistake I ever made was being stubborn and taking on too much. 

Is this a house your selling or renting? What class a b c or d. I have several rentals. On a couple rentals I have, I'd let this ride all day.

Kathryn, I've been there before with the debt. You really should make sacrifices and dig your way out. It's a really bad habit to get in to with the debt. With that much debt and 7k in cash for two people you shouldn't get another house til you get your feet on solid ground. 

Good luck 

you say you 'screwed yourself in to a good bit of debt'... what does that mean? If that is not the mortgages you should pay that off prior to buying more real estate. Good luck