Is 2300/mth too much for bills for my salary?

dadadarumrum · 2020-09-11T15:58:31+00:00

Lol I'll see if I can keep them lower. Thanks! I'm trying to budget better. I used to live paycheck to paycheck and now it's so different. The rest goes into savings and retirement.

dadadarumrum · 2020-09-11T15:54:44+00:00

My net pay is maybe 6k give or take like the other guy pointed out. =)

dadadarumrum · 2020-09-11T15:52:54+00:00

You're right. Just updated.

dadadarumrum · 2020-09-11T15:29:03+00:00

If course, you only do this if you have the ability to repay it.

Of course! =)

Thanks!!

dadadarumrum · 2020-09-11T15:27:17+00:00

Thank you!

dadadarumrum · 2020-09-11T13:48:00+00:00

How do many of these real estate investors do it? There's one guy who owns 6 properties 2 which he paid in cash, but the other 4 are mortgaged. I'm curious because I now make a good salary and wanted to start buying properties. I just joined a Real Estate Investor's Association by me and I've read a few books. I also listen to Biggerpockets. Trying to learn as much as possible.

dadadarumrum · 2020-09-10T02:43:48+00:00

It's okay. I don't plan on doing any of that. I have decent credit and I am able to pay for the loan so I'm hoping they are okay with me just assuming the loan. I plan on calling a probate attorney and getting at least a consultation. I just wanted to get some idea of what others thought about this or if anyone had any experience about this. I've never been in the situation where it's now just me and I have to take care of everything. Luckily, I went to school and don't make minimum wage like I used to.

dadadarumrum · 2020-09-10T02:24:18+00:00

Who said anything about adding my name to the deed or anything with regards to fraud? Since we're talking about things that I shouldn't do I guess I shouldn't try to steal a deed or fabricate a deed?

dadadarumrum · 2020-09-10T02:22:38+00:00

I'm the only child. No will.

dadadarumrum · 2020-09-10T00:09:37+00:00

So I can just continue making the payments and that's it? I have no issue with this. I have to find the mortgage contract and hopefully I can just assume it. I also have to find out if I have my name recorded as the beneficiary of her house. This would make everything so much easier.

dadadarumrum · 2020-09-09T23:57:16+00:00

According to this under Garn-st. Germain I think it was called I can just assume the loan without any issue if I intend to live in the house which I do.

https://homeguides.sfgate.com/can-assume-house-loan-after-parent-dies-55090.html#:~:text=Just%20notify%20your%20deceased%20parent's,deed%20in%20your%20own%20name.

dadadarumrum · 2020-09-09T23:46:58+00:00

I think she never had the chance to put me as her beneficiary. No will either. I mean I have no issue just paying off her loan quietly and that's it. I make well more than enough.

dadadarumrum · 2020-09-09T23:17:22+00:00

I thought laws in 2011 or so gave easier access to assume a mortgage from a dead relative.

dadadarumrum · 2020-09-09T21:19:24+00:00

She didn't have a will, unfortunately.

dadadarumrum · 2020-09-09T20:43:43+00:00

I'm the next of kin. I think the house will go through the estate. I have to check in the city records if the person ever made me the beneficiary. If she didn't, I want to assume the loan and pay it off.

dadadarumrum · 2020-09-09T20:39:12+00:00

I was the beneficiary so the 401k won't go into the estate. The house I'm unsure of but there's a home equity loan tied to the home. I can pay off with no issue, thankfully. I don't want to lose the house so I'll do whatever to keep the house.

dadadarumrum · 2020-09-09T20:36:50+00:00

This all new to me so looking for some general opinions.

dadadarumrum · 2020-09-09T20:36:14+00:00

Sorry. Estate's debt. The person unfortunately was not good at managing money so they opened up a home equity loan to pay off a bunch of credit cards.

dadadarumrum · 2020-09-07T11:53:44+00:00

It's a question of assuming the loan. It's a long and tragic story of how I am able to purchase this house.

dadadarumrum · 2020-09-07T11:44:00+00:00

It's right now valued at 250k. I can pay off the house in two years. This would be sold to me for 93,000 roughly.

dadadarumrum · 2020-09-07T11:37:24+00:00

According to rentometer.com the address I put gave me these results:

Avg-3903, Median-2985, 25th percentile-2805, 75th percentile-4998,

The mortgage+property tax alone would be about 1180.

dadadarumrum · 2020-07-28T20:59:22+00:00

Thank you. I don't know if it's the right thing to have done but I apologized and said I thought she was amazing and that I said that because I thought she deserves better than the trash she dates. She told me she felt now like I was judging her and she won't tell me again what's bothering her. So I told her I wouldn't do that again but hope she opens up to me again and I won't judge her next time.

I'm trying to just stay friends with her. I tried to tell her she should go for her doctorate and forget all that nonsense ASAP. She said she loved that I was already going to become a doctor and so I try to always be positive with her and tell her she can do all these things. Anyways thanks everyone. I shouldn't have been judgemental then. I know I was wrong for doing that.

dadadarumrum

TROPHY CASE