All Forum Posts by: Steve Combs

With your budget, its going to be tough to find a good property in the area unless you looking at a condominium or townhome. For investment properties I have better deal in the Greensboro or W-S market. Is there a certain part of town you were looking at, since this would be your primary residence to begin with?

The question is is it worth a few hundred dollars to protect the other 10-20%, such as your personal residence and to protect against any judgments. Also over time, do you think you will diversify your assets beyond RE holdings?

I recommend a hands on approach. Doing your own due diligence on the market and subject properties. You can have RE agents and PMs assist you, but they are no substitute for doing your own home work. For those not want to do the background work, I recommend investing in a REIT.

It could be there is something major wrong with the house that doesn't show from the curb. Or that it is a teardown and the new owner is working on getting a new building approved. Have you checked with the city's inspection and/or planning department?

i would avoid the lady who wants to prepay rent. After having rented under those conditions, when the lease expires they don't move and don't pay. Her credit is probably horrible. And if she is able to prepay 6 months, why is she renting?

@Jeff Springer answered option two.

It depends on how bad of shape each on is. If the furnace is broken, I would replace it over unattractive or old windows. If the windows have broken glass and the furnace is old but functional, I would replace both. If the furnace is broken and there are broken/missing windows, I would get estimates on repairing them instead of replacing them.

Sean, it depends where you are at in your life. At 19, the best investment you can make is in yourself. I would suggest you start by building your education, whether that is a college degree, independent education on a skill or a trade, or surrounding yourself with mentors. This will give you a foundation for you to build off of for the rest of your life. From there, you start building your career.

Once you have taken care of yourself, you can start building wealth. I would first build a base savings of a few thousand for emergencies and seed money for investment. Once you have that cushion, I would than put about 10%-15% aside regularly, split between a retirement fund and non-retirement fund, such as a mutual fund or a stock fund.

After your have accomplished that, than start looking at investing in a business or in real estate. As far a what is best, it depends on your interests and market opportunity. You need to find investments that you understand, are able to manage hands-on and you need to make sure the numbers work.

Steve Combs

It doesn't sound like you should have to many problems. But it would probably be worth a consultant with an attorney before you get to far into negotiations. Or you can make a contingent offer based on getting clean title.

@Mike Flora ... Not my area of expertise, but I am pretty sure titile company will want to see some evidence of appropriate estate administration. 

If seller was an only child and there was a will and estate creditors were properly notified, than this should be easy.

If seller has siblings, there was no will and/or there was no estate administration done....run away from this as fast as you can.

Stove

For me its a no. If they need to move in, they can pay the deposit and the rent. If they can't afford it, it would make me question if they can afford it.

Once they move in...it is a hassle to get them out if they don't pay.