All Forum Posts by: Wilson Churchill
Wilson Churchill has started 8 posts and replied 461 times.
Post: Buying in a depressed market
- Madison Heights, MI
- Posts 471
- Votes 132
If you can find properties for 30k or less, you will have good cash flow at $700 per month rent.
Post: Building Credit
- Madison Heights, MI
- Posts 471
- Votes 132
creditboards.com
myfico.com
Post: Building Credit
- Madison Heights, MI
- Posts 471
- Votes 132
It's good for your FICO to keep a small balance on a couple cards (less than 10% but greater than 1%).
Post: would you partner with some one who is cheating on his wife?
- Madison Heights, MI
- Posts 471
- Votes 132
Every time you borrow money from a big bank, not only are you participating in usury, but are giving profit to, perhaps, the most evil people in this world.
Post: Buy with fixed mortgages or HELOCs?
- Madison Heights, MI
- Posts 471
- Votes 132
I would buy the next property outright, then get a HELOC or mortgage on the new property.
Post: Rental Applicants - Capture SS# when using SmartMove?
- Madison Heights, MI
- Posts 471
- Votes 132
You will need the SS to garnish state tax returns or bank accounts. A PI can also obtain most information you would need to collect from someone.
Post: Is it worth losing 40% to get cash?
- Madison Heights, MI
- Posts 471
- Votes 132
And this is why I wouldn't marry in America...
Just put the money into another retirement account and either borrow against the account for the money you need or buy properties and hold them in the retirement account.
Post: Timing of Renting 3 Townhomes
- Madison Heights, MI
- Posts 471
- Votes 132
Just list them all. Let the tenants pick the ones they want. They will rent quickly.
Post: Why appreciation matters in the SF/Bay Area
- Madison Heights, MI
- Posts 471
- Votes 132
Originally posted by @Amit M.:
no, @Ben Leybovich is right. There are a lot of stupid, wealthy people in the Bay Area. Unlike the mid west, where there are a lot of stupid, poor people.
Right, there are definitely no stupid people in Mexico. Oops, I mean California..
Post: What would you do with $25,000?
- Madison Heights, MI
- Posts 471
- Votes 132
I would purchase a house outright, fix it up, rent it out, then use the house as collateral to borrow more money.