All Forum Posts by: Wilson Churchill

If you think that's bad, check out the "Affirmatively Furthering Fair Housing" section of the Fair Housing Act. It will require areas that are homogeneous to accept low income housing, in order to promote "diversity" and "inclusive communities": 

http://www.nationalfairhousing.org/PublicPolicy/Af...

The 1% rule just refers to a property having positive cash flow when financed at 100% at market rates. Carleton Sheet's book specifies 1% to 1.3% as a minimum. The 2% rule is popular and if often attributed to Mike Rossi, and his book "1 Minute to Rental Property Riches", though I imagine they didn't invent their respective rules. 

 Right. And when you apply for additional cards, they look at the limits on your existing cards. A large amount of credit can be obtained via CCs over time.

The decrease in FICO from maxing a credit card is only temporary. OTOH, the more you push the limits of your cards, the more likely the banks are to increase your limits..

Tell her that you will prorate the amount based on when a new tenant moves in.

Theoretically, you could become a billionaire by investing in stock options with only tens of thousands of dollars. This may have happened to a few people. More realistically, you may be able to accumulate over a million dollars by continuing to contribute to a retirement account. But real estate has generated more millionaires than any other investment class. What separates real estate from other investments? Leverage! Your stock investment is limited to your available cash. With real estate, you could, potentially, borrow millions of dollars to invest in real estate, money secured by the real estate itself. 

You could call your RE attorney and/or file a complaint with the CFPB.

0% credit cards.

What separates the two is leverage. You may be able to get 50% or more margin on a brokerage account, but you can continuously buy additional homes using only enough cash to buy one home, provided you have access to financing.

When a home is rented, you are restricted by the lease. You may not be allowed to get roommates. Also, you get no federal deduction for rent payments. Further, you cannot sell the unit for a profit or leverage the unit to buy other properties. Buying my personal residence at a discount allows for all of these things, plus instant equity. It is "no contest".