All Forum Posts by: Gregory Childs

Thomas,
Sent you an email.
TTFN,
Greg

I live in Bradenton - but transact mostly out of State. Personally, I thin there are better long-term markets and I think Tampa will not recover for another couple of years. I have friends who buy and hold here and they are having trouble maintaining rents.

That said, if a deal works fundementally - can sustain cashflow, decent Cap rate, IRR, etc - then why not invest. At least you can be assured you're not buying at the top of the market!!

TTFN,

Greg

I have had a similar experience with SIMS 2.0 - however, I still feel that the program has some pottential for being useful; so I intend to hang in there.

Realeflow has some organizational challenges but the foundational product has some nice features that I am willing to be patient to get my hands on.

I am more of a turtle than a hare - so I tend to see things through to the conclusion; as long as the business case is still sound.

TTFN,
Greg

If you are asking this question you need to be represented by an attorney or a RE agent or you will get killed.

I don't know Texas rules and regs - but ABSOLUTELY you need a contingency. You can choose to run a title check before hand, but in most cases (unless you suspect an issue), you want to get it under contract first and then do title work.

Great job for jumping into the arena, but don't go in naked - get some help on your first deal to cover your T&C's.

TTFN,
Greg

I do attend classes a couple of times a year - my rule of thumb is that the cheaper the course (0-$99) the more they are a pitch for something else; and you will only scratch the surface of the topic (teaser). The classes I have attended where I have paid $200+ I generally get higher quality information.

However, the people I meet at the seminars is where I benefit the most. If your funds are limited then BP is the best place to meet and discuss ideas. If you have some cash to spend then be prudent with how you invest those dollars and build some relationships while increasing your knowledge.

The last seminar I went to in San Diego (other side of country from me) cost me about $1,500 including travel expenses. I did a deal in November with one of the people I met and we will turn about $20k net profit from that deal.

It works if you work it. We're business owners - not seminar junkies - so you have to take action on the knowledge you pick up.
TTFN,

Greg

Bryan,
Not sure if I understood #4 (as their seems to be 26 years with no income) but if that's true, here's what I came up with:
Invest #1 = IRR 16%
Invest #2 = IRR 12%
Invest #3 = IRR 18%
Invest #4 = IRR 3%
So logically I would choose 1&3.
In real life, I would choose 3 based on the limited risk of time.
TTFN,
Greg

Realistically we are at historically low interest rates - so it is reasonable to assume that they wil rise over time - whatever happens to the debt.

Our financial institutions (and the resulting prices they charge for their instruments) is based on the "perception" of stability - which has little to do with reality. Similarly, the vlaue of our stock markets (and subsequently the companies they represent) is affected greatly by market confidence factors.

We have become a PR driven economy (belief vs. fundementals). Therefore, the cost of our financial instruments and the value of our corporate assets are significantly influenced by perception of items such as the debt clock and not the actual debt itself.

I was watching CNBC this morning and they were discussing the replacement of the dollar as the reserve currency "IMF said Special Drawing Rights, or SDRs, could help stabilize the global financial system." This shows the significant global concern regarding the long term stability and sustainability of the US economy. Our debt load has to be a fatcor in that perception.

If we show that we have the "growth" of our debt under control (and have a plan for reduction over time) and we demonstrate positive economic trends (no double dip) - the perception of our economy will be fair and finance rates will be stable. If not, there's always Aruba or the Seychelles!

This should be an interesting couple of years.
TTFN,
Greg

When you open escrow you deposit a financial or written instrument, such as a deed, with a neutral third party (the Escrow agent), under an agreement of two parties to a valid contract. The escrow agent will deliver the funds/document to the benefited party when the conditions of the contract have been met.

Depending on individual state law, escrow agents can work at title insurance companies, independent escrow companies, law firms, real estate brokerages or financial institutions, you can find participants at the American Escrow Association

It's the carrot to the parties that their is a serious deal and they are ready, based on certain requirements being fullfilled, to move forward.

I love my gmail account - I use it for all sites that I want to register on that I know will spam me to death. As for people who I want to talk to I use my real account.

See how much I like you guys.
TTFN,
Greg

Same as Charles - I have a database or spreadsheet that I use to evaluate each deal. My offer is based on the what it tells me, regadless of the listed price - of course if the spreadsheet says more than the listed price then I take the lower figure (never happens, but just wanted to be sure you didn't think I was crazy).

It's not about low balling an offer - its about ensuring an acceptable return, regardless of the circumstances.

TTFN,

Greg