All Forum Posts by: James Park

Why don't you think i am cut out for this business? Some tenants are good people but just had a tough set back.

FYI update on my new tenant has been great. Rents come in on 1st of every month while she is given up to the 5th. On top of that she extended the lease to two years and replaced my refrigerator and oven with new stainless steel appliances. Remodeled my kitchen and applied new fresh paint to the whole on her dime. I hope she purchases my unit when 2014 comes.

My biggest mistake would have been not getting rid of my first bad tenants and hoping thing would get better.

Jon,

Have you read the book Emerging Real Estate markets from David Lindahl? i do believe that one can predict where home prices will double in value in 10 years. As I mentioned earlier in my posts, I do think that Austin is one of those markets and Austin fits the perfect profile of what David Lindahl speaks about in this book.

In the zip code i invest in here in Atlanta... soon there will no longer be any homes sold under $200,000. The purchase price of $250,000 a year from John Schaub will work well in the farm area i am concentrating in.

Real Estate is local and past does not have to repeat. I don't think coastal southern california real estate will double in value in 10 years, but i do think that tier 1 markets in Austin, Texas has a lot of potential to double in the next years as well as Dallas.

Hey guys,

I am as green as you can get here on bigger pockets. Have any of you read building wealth one house at a time by John Schaub. I really like this author and am trying to follow his ten year plan of retirement.

Here is some challenges i am facing. As an individual investor, how feasible is it leverage up to $2,000,000 in 30 year fixed mortgages like this book suggests. Is there any individual investors who are leveraged beyond the $2,000,000 mark and how much reserves do you keep at this level to feel safe. I ask this as i am risk-averse which is the reason i like to keep a lot of cash reserves. I like to hear from individual investor who is either investing in SFR rentals by himself or has his wife as his partner.

At what point, should one stop leveraging more debt and start paying it down. I like to own up to 12 SFRs, but at the end own 6 of my most profitable SFRs free and clear.

J Scott,
Don't you dare come to my area :) lol

Because two of the best high schools in Georgia is located east cobb and north fulton.

In today's crazy unknown market where no one knows whether inflation or deflation will dominate (Bernanke will print but he may fail this time round).....

One needs to diversify his portfolio with gold, real estate, and cash.

Aren't you 100% safe if you are fully FDIC insured.

You can be covered up to $750,000.

yourself - $250,000
you and your wife = $500,000

On $750,000 cash the difference is $4,875 a year.

I currenty have my cash reserves with American Express at .85%. I am looking to move my money with UFB Direct at 1.15% APY.

Is this a safe bank in your opinion? Anyone here have your money market account with UFB Direct?

http://www.ufbdirect.com/ufbdirect/personal-banking/savings/moneymarket.aspx?utm_source=Google%2BAdvisor&utm_medium=Google%2BAdvisor&utm_campaign=Google%2BUFB%2BMoney%2BMarket

My mortgage broker told me today that I will be required to have an escrow account on my new purchase of a SFR investment property due to a recent change in Fannie guidelines. For those of you who investment in SFR rentals, do you normally waive escrows or is it good practive to have an escrow account.

Thanks.

4 including or not including your primary mortgage? Will the banks allow 4 mortgages with 20% down not including your primary? Thanks for the clarification.

Chris,

If you have one mortgage for primary, how many investor mortgages can you get with just 20% down. When does the 25% - 30% down payment requirement start to kick in?

thanks.