All Forum Posts by: Account Closed

First, I'd like to openly say I do not agree with Graham's  behavior of bringing in a $5 sandwich to a fancy meal in an upscale restaurant. When I heard it on the Podcast I imagine how uncomfortable I would feel if I have done that myself. 

However, this thread did remind me about the Israeli theaters. In the past Israeli theaters did not allow guests to bring food into movies. You had to throw away your food and beverages before entering so the theater can monopolize their food and beverages services while you were coming in to watch a movie. At some point the Israeli government voted for a law that allows people to bring their own good and beverages and now it is common for people to bring in their own food. This isn't quite exactly the same thing as the theatre makes money from screening the movie itself and the food and beverages while a restaurant makes money off their cooked food, drinks and atmosphere.

Assuming the focus is on cash flowing rentals, wouldn't it be ideal to buy these properties ? Or is the demand for rental low because of shrinking population ?

I just found this interesting article on LinkedIn - https://www.linkedin.com/feed/news/two-us-cities-s...

Looks like Elmira, NY and Danville, IL are "stuck in recession". So I saw the article and decided to check out house prices in these areas. It looks like these areas offer a pretty good return on investment when it comes to renting for cashflow.

Does anyone have experience owning houses in these areas ? It looks like houses are sitting in the market for months.

@Alia Bennett Welcome to Tampa! Just to give you a heads up: Tampa's saturated with flippers and investors. Deals are getting harder to come by. You might want to consider other areas as well such as Lakeland, Plant City, etc.

I don't have any tips for you about how to start as I'm not in the flipping business but I wish you good luck :)

In Tampa I would consider the Ybor area. Zip code 33605 and around the bush gardens area.

You also have New Port Richey which is North west of Tampa but you need to be careful with these properties as they are susceptive to sinkholes.  

Winston in Lakeland is also C class. Lakeland's pretty good for investors and is currently high on demand. I would definitely recommend you keep Lakeland on your radar.

Lender needs money back to pursue different investments.

The company that is moving the mortgage to me are looking for a three month bridge until they get a long term loan at a lower interest rate for their whole portfolio. Once they are able to secure the loan they will pay me back.  

Does that make sense ?

Hi Joe. I work with Straight Up Realty, you can look them up on Google or PM me.

I think they are super honest and fair. Give Kristi a call and just ask her about the company's property management services. 

I've been private lending for a while to a company I know at 12% interest. The loan is backed up by a property that has a value higher than the loan.

The company I work with is seeking another loan which I have agreed to, this time it's in order to pay back another lender, they are looking to move the mortgage on the property from the previous lender to me. I understand it's not going to be in the way of issuing a satisfaction with the previous lender and then issuing a new mortgage to me.

The property this time is also fine by me. Just wanted to know what I should look for and what I should be careful with when doing this type of change in the mortgage. 

Hi Shelby, welcome!

You mentioned you don't come from money -- A lot of people including myself did not, If you're a hustler thats just fine. Also, You don't really have to spend on education with Real Estate. You are more than welcome to subscribe to Pro but I would recommend you watch videos on Youtube and listen to the BiggerPockets podcast first. All 100% FREE.

I passively listen to the podcast while working out at the GYM, it's VERY educational and I've learned a lot from it. The money I spend on education is usually on books. I don't pay mentors as well. 

@Nathan Gesner  and  @Brandon M.  Thanks for the response.

My question was more in the direction of how to I determine the Replacement Cost / Actual Cash Value of each and every property.

Also would love to get more recommendations for Insurance providers in the Tampa Bay Area.

Thanks!