All Forum Posts by: Mike Terry

This article is of no value to anyone at all:

https://www.bloomberg.com/opin...  and Bloomberg wants you to a subscription to read this fluff.

@Tommy Ray this is brilliant! Thanks for sharing.

@Bill B. great response.  Very thoughtful and supportive.  Patience is a key element to all investing.

My word of caution would be related to the age of the property.  Most of my acquisitions have been built since 1980.  It is much easier to know an age range of homes in your area.  helps to know common materials, problems.  The older the more questions and undiscovered problems.  Best of luck.

@Samuel McCart Congrats on making the decision to take action. I am a flipper and buy and hold investor in Lee and Charlotte County just south of you. I would suggest getting to know the Sarasota county so you can recognize a deal or mispriced property on the MLS/realto.com etc. Drive for dolalrs and get leads and have a first hand knowledge of the local neighborhoods and values. Learn how to search the county records to find owners and try to contact. It's a numbers game. I have flipped 4 houses within a miles of my house. deals are out there. Good Luck.

Congratulations @Ryan Trebilcock.  $1200 a month is great cashflow!  I'd recommend rise and repeat!!!

https://twitter.com/flaflip4freedom/status/1474001187859054597?s=21

Question? This is a good article, but is lacking in specifics. Looks like most of this income is from sale of properties. 1.5MM in rents would be impressive in 8 years of investing. If not I’m doing something wrong.

https://t.co/CHNfKwMp2V

Hi Michael,

Thank you for the post. I am also a year ahead of you in Vladosta. I bought my first two duplexes there 1 year ago. I have since added another, did a single family BRRRR and am closing on a 16 unit multi tomorrow. The snowball was unexpected, but I am happy with the performance and progress. If I can be of any assistance to you on your journey. Please feel free to reach out.

Hi Wendy,

All but one of my properties are with a small town community bank and are commercially financed. Be prepared for higher interest rates than conventional residential and shorter amortization schedules and loans maturing in 5 to 10 years. Currently I am at 4.25%, amortized over 20 years, with a capped adjustment at 5 years and a balloon payment at 10 years. The pros are, easy qualification based mostly on income potential of the property. Very low fees and closing costs, ability to reficance out to conventional loans if you need or want to, ownership in LLC's.