All Forum Posts by: Ryan M.

100% of shorts and foreclosures have 1 thing in common....

You can call these properties yours and even put your name on them but whoever holds the note owns it and you better believe they will come get it.

The good word says the borrower is slave to the lender and I take that serious.

Crap....I forgot to include my disclaimer at the beginning, lol

This is my opinion or my 0.02 cents......i'm going to say this everytime, lol. I figured this was always implied but yesterday I found out its gospel.

#5 - your getting a tax deduction on the interest.
Instead, mail me 9k/year and at tax time I will mail 1.5k back. That is what's happening.

The point of being f&c on everything is it takes the stress off. And you start to develop a lot of this thing called money. This then snowballs to where bringing a cashiers check to closing on 150k prop is possible. Sure you start paying tax on rental income because your actually making money.

Again this is my opinion or my 0.02 cents, hahaha.

My case was 3/8" standing water in/on carpet in a finished basement. I didn't try the dehumid but have a hunch it wouldn't have worked.

When people 0.02 that means opinion or my opinion and at the end of day that's what all this is. IN MY OPINION that's what it takes....why because I watched my parents and grandparents do just that.

I know what my numbers are, I know property taxes account for 16.4% gross, and so on. Many people use the 50% rule and have no idea what it actually is. Know your numbers! You can take advice about people that are thinking about it or people that actually are doing it, for myself I would take the latter.

My 0.02..... You need 200k atleast in gross rents/year with paid for properties to consider it.

This is simply inventory vs. Demand. The demand is there and inventory is getting lower. Call it what you want but that's what it is. You can't go down to walmart and buy land.

I also have never put a used appliance in a unit. A stove can be run indefinitely once you have a good understanding of them by replacing parts. Fridges go out and I pick up a new one. Residents get worked up enough about food spoiling and to add btw the lease says you now have to buy a new one. That will go about as good as it sounds.

Dishwashers have a short life, I actually hate the things because of how much damage they can do, once there is a problem they are swapped out. I buy all appliances wholesale, which is generally 25% off big box stores.

I tried going the gutter route on one property. Trenched sch 40 4" and knocked out the back of a storm drain basin. It was a lot of work and the next time we had a big storm there was water in the basement. Very frustrating, ended up digging to the footings around the whole house. This is major, tunneling under porches, removing decks.

I will not allow ice makers after 2 costly messy problems years ago. Its not worth it to me. They can make ice in a tray like everyone did for 100+ years.