All Forum Posts by: Tony Hightower

@Ricky Nigro

Based on those numbers, i would pass. Not sure the state this is in, on a $60k ARV, taxes seem high as does insurance. Also, are you paying the water/sewer. Could this be passed to tenant?

@Ryan Proffit

If she did not return it, she is still on Month to Month. Send out another 30 day notice for another increase if you feel you need the lease. (Call it "Our Short Term Month to Month rates")

If you feel she is looking elsewhere, maybe this is a way to collect a more fair rent while still allowing her to look.

Else, collect the higher rent on Month to Month.

Would you keep all of a deposit based on damaged linoleum? It will cost the deposit to get it replaced.

It might sound like a silly question, but are there damages you just let go?

There is also a missing smoke detector and a few other small things, like drawers not closing correctly.

I have a large 401k with employer and put in up to match.

Have used this to start my RE investing with low cost loans.

After learning more on RE investing, I picked up a side 1099 and opened a Solo401k. I put quite a bit of 1099 income into this for future use.

Plan is to roll company plan over to solo when I leave in 5 years. Plus the company currently has a pension that can be cash balanced out of and rolled into solo. Then grow it with Real Estate inside 401k.

Could possibly convert some at the same time similar to what @David Barnett. But, I would use a lot of carry over losses to reduce taxes.

@Chris M. I do not think this is a good deal at all. There are better deals to be had in Clarksvill.

If you have to do 30yr 4.5% just to be close to cash flow, i would not do it.

Have you actually verified you can get this on a 30yr 4.5% loan?

@Zack Caracciolo 6 months seems reasonable. I know a few of the local banks have 12 mo requirements on their portfolio loans.

@Mike Flora

What kind of information do you need?

@David Rodriguez let me know what questions you have. I will try to help.

I have seen a place locally that has about 24-28 of them. All 8x20. I am sure they are cost effective.

Prices can vary widely though. Just for my area, local self storage would run $80 for 100-150 sq ft. If using storage containers and already have land, could have all containers paid off in 3.5-4 years at 70% occupancy.