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All Forum Posts by: Aaron Fakerson

Aaron Fakerson has started 2 posts and replied 10 times.

Post: Buying a Golf Course

Aaron Fakerson
Posted
  • Florence, KY
  • Posts 10
  • Votes 4

@Christian Beyer. Definitely best purchased as land only for development value.

Some statistics on golf in the US:

The number of core American golfers (those playing eight rounds or more per year) has fallen between three and 4.5 percent every year since 2006.

Since 2007, the number of golf courses closing in America has significantly outnumbered the number of new course being built.

This downward trend in American golf is even making its way to the professional level.  In 1986, American golfers made up 60 percent of the Top 100 players in the World Golf Rankings. By the end of 2010, Americans made up only 32 percent of the Top 100.

Post: Home Security without contract and internet connection

Aaron Fakerson
Posted
  • Florence, KY
  • Posts 10
  • Votes 4
Look into Simpli Safe.

Post: Basement Vs. Slab Foundation

Aaron Fakerson
Posted
  • Florence, KY
  • Posts 10
  • Votes 4

If you are worried about storage you could always build a large shed or garage if you have the yard space to burn.

Post: Auctions / Auction.com anyone with experience to answer questions

Aaron Fakerson
Posted
  • Florence, KY
  • Posts 10
  • Votes 4

I am watching auctions on Auction.com in my area. I am thinking of bidding, but I have not bought these type of auction properties before (only familiar with HUD homes). What are some of the issues to look out for (not physical property related but more leins, title issues, things like that) ? Also if anyone is experienced with these purchases if some problem comes up what kinds of issues will I have clearing them up ?

Example I am worried about: In my neighborhood a house sold as a HUD house to an investor that I know but not all that well. He buys and then HUD ends up cancelling the sale because of some unknown to me issue. I looked at the property records and it has even now reverted back to the bank instead of HUD. The bank has put a little work in it recently but still apparently can't sell it and are now sitting on it. This has been going on for 3 years now since it was originally sold to the investor that ended up not being allowed to close.

Something like that would be horrible to be stuck sitting on a property in limbo for 3 years after laying out all cash to purchase and not getting any return or abilith to do anything else with the money.  

I am just looking to educate myself as much as possible before jumping in over my head on one of these auctioned properties.  

Thanks in advance,

Aaron

Post: Paying off Rental Properties

Aaron Fakerson
Posted
  • Florence, KY
  • Posts 10
  • Votes 4

Everyone here are posting good responses, but they are generally looking at two far ends (full leverage vs complete portfolio payoff).  I am going to look at things a little more balanced.  Think of it like any other investment besides real estate.  

Would you be comfortable investing all of your money in high risk stocks that have a big possible payday while being at high risk of also being worthless in the end VS sticking everything in CD's paying 0.nothing% but are super safe ?  Most people would say balance that stock portfolio with a good mix.  

Here is my thinking with real estate.  Once you start having a modest portfolio and assuming you have the properties under separate entities to separate the debt ownership maybe set aside 10% of your properties to pay off.  This way if something bad were to happen you will never have to worry about being fully wiped out.  It will also generate income in a pinch in case of something bad wiping out your portfolio.  Plus all of that free cash flow monthly can still be used to pay for repairs or to help support the other 90% of your portfolio.  

Just my $0.02

Post: FHA question about eligibility

Aaron Fakerson
Posted
  • Florence, KY
  • Posts 10
  • Votes 4

Thanks guys.  I will put a bid in this week.

Post: FHA question about eligibility

Aaron Fakerson
Posted
  • Florence, KY
  • Posts 10
  • Votes 4

I am a new investor. I don't currently own a home in my name, and I am hoping to do a FHA loan for a fourplex down the line. Long story but I am building my credit to be able to get a loan (starting with no credit score and haven't had a loan or credit card in 20 years). I started the credit build process of getting secured credit, but while I wait a deal has possibly come my way.

There is a duplex that I can buy all cash and it is a HUD home. If it goes to investor bidding it will get scooped up quickly and for more than asking most likely. If I bid on it as owner resident I can buy it all cash move in and wait a year for credit to build to buy FHA fourplex and move there. The only question I have is if I don't have an FHA loan but own a home will I be disqualified from purchasing FHA later ?

Post: Google Voice and Patlive

Aaron Fakerson
Posted
  • Florence, KY
  • Posts 10
  • Votes 4

You can turn off Google Voice voicemail for a forwarded phone.  

https://support.google.com/voice/answer/165656?hl=en

Post: Get Rid of Smoke Smell

Aaron Fakerson
Posted
  • Florence, KY
  • Posts 10
  • Votes 4

Wash all hard surfaces with trisodium phosphate mixed with water.  Just google 'trisodium phosphate cigarette smoke'  for more info.

Post: Landlords Preferring Sec 8

Aaron Fakerson
Posted
  • Florence, KY
  • Posts 10
  • Votes 4

I am guessing that maybe some developers need a certain number of section 8 renters in a development to fulfill low income housing guarantees made to the city as part of the rezone agreement allowing them to build or maybe even for a possible grant or other eligibility requirement.