We would have 3, 4, then 5 debt-free houses renting for $800-$1000 a month, but my partner and I would be doing quick rehab jobs for others and picking up scrap metal on trash night to pay for our personal needs (groceries, cell phone).Sacrificing to Build a Foundation of WealthSounds like it sucks, right?

The insurance industry is highly profitable, and by using the self-insurance technique you can essentially get a cut of those profits for yourself, both reducing the effective cost of insurance you pay and also giving you the peace of mind that having a nice fat self-insurance fund sitting there provides.

i see a trend here of mailing white letters for probates which im all for. however if you happen to have the persons cell phone number how risky/insensitive would it be to send a text concerning the house?

The CAN-SPAM Act makes it illegal for businesses to send unwanted text messages to cell phone numbers and requires that any commercial message be easily identifiable by the receiver as an advertisement.

Cell phone is in the signature 👇🏼

Just asking as a novice person reading this trading naked would be a risky bet.Since the volatility is so high, spreads are pretty fat right now,but don't know when it will drop to grab the premium ;)----For the other answers,  we are in an unchartered market.

And I agree I know in the C D class I had we did not even run a credit report for the fico we knew it would be bad we just wanted to make sure they were paying their cell phone bill .  

If you are concerned about the turn, buy fat deals.

Hi Renee,If you income has been below the IRS filing threshold amount for some time, and the $300,000 has fallen to you tax free (like a one time thing in your life) it might be smart to NOT take a big risk with it, and pay cash for the house and live off the rental income (and pay tax on that income if you have to).If you start breaking the $300,000 up as down payments on several places, and take out loans out and things go bad, you could lose the additional homes, and the bank will get the $300,000 you used as down payments leaving you with nothing.Somebody once said pigs get fat hogs get slaughtered, and that's something that someone with history lower income should think about.But if you want to borrow, and can find a lender then go for it.

Don't forget to track and deduct your mileage (including trips to your remodel store of choice, assuming you own a car that you use(d) to conduct business with), deduct a portion of your cell phone (assuming you conduct business on your phone) and deduct a home office expense (assuming you conduct your property management out of a room in your house) and consult a tax accountant to see what other tax write offs you should be able to have.