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All Forum Posts by: Paul S.

Paul S. has started 6 posts and replied 358 times.

Post: Car accident and "cheap" vehicle.

Paul S.Posted
  • Investor
  • Valparaiso, FL
  • Posts 374
  • Votes 76

@Ryan Dossey  I wont go all Dave Ramsey on you but you should be able to find a reliable used car for a reasonable price. I would not recommend anything new.

Post: Car accident and "cheap" vehicle.

Paul S.Posted
  • Investor
  • Valparaiso, FL
  • Posts 374
  • Votes 76

@Karyn T.  you must not have owned many Toyota or Honda's. All but one of mine were bought with over 100K and were sold with over 200K on them. Most expensive repair was an $80 coil.

Post: Lease for the state of MN

Paul S.Posted
  • Investor
  • Valparaiso, FL
  • Posts 374
  • Votes 76

@Greg Gordon  I will reach out to my brother and see if he has one since he has rentals in MN.

Post: Neighbors Kid Shot my rental window out!

Paul S.Posted
  • Investor
  • Valparaiso, FL
  • Posts 374
  • Votes 76

@Chance Cooper  is this house in Fayetteville or in Hoke County? Mine is in Hoke County, you might be able to call the law (that's the proper term in that area) and have the officer go talk to the adult. I had some vandalism at my house and the Sheriff talked to the kids that I know did it. The Sheriff knew they did it as well. I didn't get any money to fix the damage but I did not have any further issues with those kids. 

On a positive note you can deduct that $355 on your taxes.

Post: Hiring from craigslist?

Paul S.Posted
  • Investor
  • Valparaiso, FL
  • Posts 374
  • Votes 76

I have used a painter from CL and had good luck. I asked for references,he was able to provide several along with a portfolio of past projects complete with contact info in the event I wanted to call them as well. I offered no money upfront and I purchased all the paint for the home. I would not recommend offering up much (if any) cash until you can see some progress and everything looks to be going smooth. 

@Mike Hurney  makes a great point to insist on "Must have own tools and Transportation!"

Post: Financing a Rental Property

Paul S.Posted
  • Investor
  • Valparaiso, FL
  • Posts 374
  • Votes 76

@Katharine Chartrand  do you happen to have any other properties that you could pull equity out of?

Post: Finding Multi-Unit Properties

Paul S.Posted
  • Investor
  • Valparaiso, FL
  • Posts 374
  • Votes 76

@Gerald Harris  I agree with @Kirk R. that you can search on realtor.com but that does not always guarantee the seller will be motivated. You might want to talk to some local property managers and see if they may happen to know of an owner who would be motivated to sell. 

My property manager manages around 125 properties and knows I am looking so, if he he knows of a motivated seller he puts me in touch. Nothing has panned out yet but the only investment I have in this is a simple e-mail once in a while to see if he has found anything new. 

Post: Maxing a credit card for down payment on property

Paul S.Posted
  • Investor
  • Valparaiso, FL
  • Posts 374
  • Votes 76

@Chance Cooper  I think it would depend on your plan to pay that CC off. If your looking to use this as a bridge then pay it off make sure you get a 0% rate for a specific amount of time but be careful opening up a bunch of new CC's as this may affect your credit score if you try to then get a loan. 

Have you considered other funding sources? Maybe using a LOC to buy the whole thing? Then you will have a fixed interest rate and will be able to plan out your debt service a little bit.

Post: New Member from Minneapolis, MN

Paul S.Posted
  • Investor
  • Valparaiso, FL
  • Posts 374
  • Votes 76

@Elmer Lee  welcome to the site! I would say this is a great place to make contacts and learn. 

Don't forget to check out the podcast. I have found several of them to be pretty helpful.

Post: Online tool with zip code based demographic info

Paul S.Posted
  • Investor
  • Valparaiso, FL
  • Posts 374
  • Votes 76

thanks @Jon Holdman