All Forum Posts by: Danny Kay

Joe,
WELCOME!!! keep ready all the great info on her and you will go from a "totally new" real estate investor, to a person that has some direction and a plan of attack. Thats the first big step, and you will soon be on your way to a man with a mission, just read as much as you can, network with locals and soon enough you will have your plan
:superman:

always remember that those type of equations are rule of thumb to get u in the general $ amount. They should never make or break a deal.

yea 2weeks or less, you need a nice list of investors that you can count on. Thanks for the info Ryan, as always, your posts are very helpful.

Ryan,
Whats the typical amount of time for the process. (Signed contract to closing)

Providing yourself with the fundemental knowledge is step one. Once you have this, you will understand which direction you want to go, and why. Im not quite out of the "sort of" phase, and im not convinced i will ever be 100% out of that phase (always learning new methods will keep you slightly in the "sort of" phase for ever) But as ryan said, when you deciede to do somthing, you shouldnt doubt yourself.

well good luck with your hunt :) cya around somtime, maybe :superman:

WELCOME! Electronic huh? That sounds like a great business to have. Do you sell only home entertainment products, or do you span out to other digital needs?

What type of REIs are you into? Enjoy your stay buddy, there is more knowledge here than i can read :) dont forget the forums are just a part of the insanly large amount of info availible on BiggerPo!

hey chris,
IM in a similar position. the best way i would know how to do it is standard mortgage and just have more cash on hand. I figured iw ould like 15-20K cash. But this isnt possible for you, it doesnt sound like at least. Do you have an assests you can sell to increase your cash? Like a nice car or somthing? They interest only loan would be somthing i would do if i was a little more advanced, and possibly looking at a short term hold on a note in the high 6 figures to 7 figures, but thats just me. Good luck, i will definatly let you know if i find any kind of creative financing to help yours and mine situation out. Im 21, so i got a couple years on you. I am a property manager for a couple properties; but mainly i am into land development.

I would be streched to say "the economy is in the dumps" people forget we are coming off all time highs, over all i think we are still uptrending. The DOW Jones is setting all time high records almost daily, PUlte and Beazer have both said they think the housing makret has grabbed bottom. And i personally think we will bounce and see and revist our short term uptrending again soon. There are too many doom and gloomers out there. If you truly cannot find a profitable piece of property, then maybe its time to move on to a differnt type of investment, or a different area. So to answer you, "what would i do if i was in your shoes?" : I would keep watching and looking for a potential buy, i mean what other option do you think you have. You think the economy is in the dumps, so sit back and wait for prices to crash :)

congrats wesley!!! :superman: