All Forum Posts by: Kirk R.
Kirk R. has started 69 posts and replied 925 times.
Post: Starting out, I would love some advise or direction
- Peoria, IL
- Posts 967
- Votes 383
Call a banker & apply for a mortgage.
you might not qualify but you'll know for future what you need to do.
Post: *Complicated FHA VS HomePossible situation* Need help!
- Peoria, IL
- Posts 967
- Votes 383
I would look at how each way affects your networth.
Post: New Member from Des Moines
- Peoria, IL
- Posts 967
- Votes 383
Welcome. lots & lots of good advice on BP.
Post: Northwest Indiana (Lake County) Property Tax
- Peoria, IL
- Posts 967
- Votes 383
owner occupied is cheaper
Originally posted by @Mike Paisley:
Good Morning BP community,
My name is Mike and this marks my first post on the forums after being an active podcast listener and forum reader.
Here is some background info and then I'll get straight to the point:
I am 28 years old and worked hard to pay off over $75,000 of student loan, auto, and credit card debt over the past three years and am now DEBT FREE. I have no dependents, am currently renting, and have a stable 9-5 and a side hustle in the evenings.
I worked hard on getting my expenses as low as possible (without house hacking) and generate roughly $3,000/mo. on top of my expenses.
I have built up $10,000 of emergency savings and take the company match for the offered 401k plan. My goal is to be financially independent by the age 35.
My question is what to do with my surplus of income to reach my goal?
Thank you for your time and ideas!
wow sounds like you're doing great! more of the same? don't mess with success?
Why not look at going owner occupied & renting a room or two? but if it increases your living costs....
for some gettin hHealthcare seems to be stumbling block to financial independence.
Originally posted by @Alancha Thompson:
@Kenneth Garrett Thanks, definitely not trying to put the horse before the carriage
going owner occupied. seems like best way to get feet wet.
Post: Are some people jinx's?
- Peoria, IL
- Posts 967
- Votes 383
no. lining up 3 data points doesn't mean much.
What are the chances gas was $1.75. next gas station $1.79. next one $1.83. unbelievable. up 4 cents each time. What are chances of that happening.
Post: Record Low Employment - Do You Think We Will See A Rebound In Q3?
- Peoria, IL
- Posts 967
- Votes 383
July August September. rebound of course. if the fed government gets rid of +$600/week be lots more people trying to get jobs. July 31st last for +$600.
Wish unemployment reporting would be changed.
More meaningful is the #of people working in the US.
Post: New Investor Deal Analysis
- Peoria, IL
- Posts 967
- Votes 383
analysis link not working
Post: Finding tenants to pay for 3+ bedroom unit vs 2: how much harder?
- Peoria, IL
- Posts 967
- Votes 383
Originally posted by @Account Closed:
It depends on your tenant base. Here in CA, if I had a rental for 5 or 6 bedrooms, I'd anticipate that the small family I rented it to would then rent out the extra rooms to friends or boarders. And, they may even add showers and toilets without permission or permits. This is really common here.
Whereas, if I had a 2 bedroom unit without a garage, I probably wouldn't deal with these types of problems, because those types of tenants would move on.
You have to know your tenant base. But, I think it's really rare in today's world that a normal family would need 5 or 6 bedrooms.
Now, if you wanted to rent those types of properties out to college students, for instance, that might work. Just know your tenant base. If you end up with tenants who put in unpermitted showers and toilets, etc., they can cost you a lot more than their security deposit.
Sue What's your experience with 1 bath vs 2 bath?
Maybe it's cause i think everyone should have same as what i like. but 3 people & 1 bathroom seems inadequate. & if the only one bathroom has a leak/needs a remodel...