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All Forum Posts by: Eric C.

Eric C. has started 13 posts and replied 197 times.

Post: Using QR Codes in marketing material

Eric C.Posted
  • Investor
  • Grand Junction, CO
  • Posts 207
  • Votes 201
Originally posted by @Dan Roma:

Has anyone used QR Codes on any of their marketing material? How effective is this? Also, does size and placement matter especially dealing with print and digital formats?

 As a national sales manager for a mobile marketing company, we dropped QR codes a couple years ago due to the lack of response.  Someone has to have a QR reader app, then open the app, scan the QR then let it open whatever link.  Using texting with Keywords and Shortcode is much more effective.  PM for more info if.

Post: financing when you are asset rich, but cash flow poor?

Eric C.Posted
  • Investor
  • Grand Junction, CO
  • Posts 207
  • Votes 201
Originally posted by :

Unless you have a large payment on a primary residence, a lot of these investment properties could potentially cover themselves - meaning you don't have to have a really high reported income to qualify. You will get credit for fair market rent when the appraisal is done. 

 I thought you had to have two years of tax returns with rental income showing before a lender will give you rent credit, unless it is a house hack.  Am I wrong?

Post: How many of you are financially free?

Eric C.Posted
  • Investor
  • Grand Junction, CO
  • Posts 207
  • Votes 201

@Frank Adams Great post above!  Very inspirational.

Post: Market reports that all investors should be looking at

Eric C.Posted
  • Investor
  • Grand Junction, CO
  • Posts 207
  • Votes 201

Thanks for sharing.  Lots of good info here!

Post: First Lien HELOC Strategy

Eric C.Posted
  • Investor
  • Grand Junction, CO
  • Posts 207
  • Votes 201
Originally posted by @Matthew Price:

Chase bank gave me no issues about taking first position. I went with them for ease of access, as my primary checking account is with them.

Curious what your rate and LTV are on a first lien HELOC with Chase

Post: Selling half a house to a significant other

Eric C.Posted
  • Investor
  • Grand Junction, CO
  • Posts 207
  • Votes 201
Originally posted by @Jay Hinrichs:
Originally posted by @Eric C.:
Originally posted by @Jay Hinrichs:

@Eric C.  what was the name of that rock climber who free climbed El Capitan ??

I think they showed it on 60 minutes and I think he did it without any ropes.. is that right

if so it was the most amazing thing I have ever seen !!!

sorry to change subjects but based on your Avitar thought you might recall that..

 Alex Honnold - is the famous free soloist who does a ton of stuff in Yosemite, but Tommy Caldwell and Kevin Jorgenson were the two climbers to first "Free" the Dawn Wall on El Cap.  To Free Solo is to climb without rope protection, and to free climb is to climb without weighting a rope and to not use gear for progress, but you can have it there just in case.  

Climbing is my passion, not real estate.  I climb outside about 100 days per year.  

Being a SF Bay Area kid I have been in Yosemite valley many times.. when I saw that guy climb up El Cap it was the most awesome thing I think I have ever seen..

Real estate has been good to me all these years but yes there is much more to life than worrying about cash flow and rentals tenants and stuff.. keep your perspective.

We live in the Jet age for 750 bucks you can be around the world in 15 to 16 hours.. all these people that get so focused on being retired or living on their rentals AS soon as they can to me they miss many of the pleasures of a rounded life.. hopefully if they do achieve their dreams they will stop and smell the roses.

I had one guy on BP write me a private message one time and said I post to much and I just not have a life.

my reply well maybe so from his perspective but in the last year I have been to  Isreal  Thailand Hawaii 2 times London  British Columbia to fly fish and about 12 other locations in the US ( those are primarily business) so don't let the peanut Gallery here on BP bug you !!! 

 Well Said!!!  In my death bed, I will not say "I wish I would have traveled less".   Always wanted to fly fish, but haven't tried it yet.  There is great climbing up your direction at Smith Rocks outside of Bend, I have been there many times.    

Post: Selling half a house to a significant other

Eric C.Posted
  • Investor
  • Grand Junction, CO
  • Posts 207
  • Votes 201
Originally posted by @Jay Hinrichs:

@Eric C.  what was the name of that rock climber who free climbed El Capitan ??

I think they showed it on 60 minutes and I think he did it without any ropes.. is that right

if so it was the most amazing thing I have ever seen !!!

sorry to change subjects but based on your Avitar thought you might recall that..

 Alex Honnold - is the famous free soloist who does a ton of stuff in Yosemite, but Tommy Caldwell and Kevin Jorgenson were the two climbers to first "Free" the Dawn Wall on El Cap.  To Free Solo is to climb without rope protection, and to free climb is to climb without weighting a rope and to not use gear for progress, but you can have it there just in case.  

Climbing is my passion, not real estate.  I climb outside about 100 days per year.  

Post: Selling half a house to a significant other

Eric C.Posted
  • Investor
  • Grand Junction, CO
  • Posts 207
  • Votes 201

The reason I find this so hypocritical from most of the responses, is I asked a tax and logistics question, and most tried to turn it into a risk of relationship ending question.  

Never mind that we own other property together, or that she could just pay me the cash for half the property if I asked for it. She doesn't believe in dead equity, so she would rather finance her half, and let her other money work for her. Never mind that the house is a great house for us, but not necessarily a great rental due to dead equity and low COC returns. Never mind that if we bought a different house together, I would probably end up selling this one to get a higher return on my own money. Never mind that there isn't a ton of inventory of properties that fit certain things we both want in the place we live but that this property fits them.

If I would have gotten a bunch of questions about those things, I would not have been so defensive, but alas, everyone made assumptions about exit strategy in the event of the relationship souring.  

Thanks @Jay Hinrichs for the TIC info.

Post: Selling half a house to a significant other

Eric C.Posted
  • Investor
  • Grand Junction, CO
  • Posts 207
  • Votes 201
Originally posted by @Cara Lonsdale:
Originally posted by @Eric C.:
Originally posted by @Cara Lonsdale:

 Both of those ideas are what YOU would do.  What if your partner doesn't agree?  What if the partnership sours (which can happen in ANY partnership) and your partner decides to stop paying the mortgage, but won't sign off on a sale?  Spiteful people can do crazy things.

The solution may seem simple to you, but if you have an unwilling partner that you are REQUIRED to work with because they are on title, you may find your hands tied on a ship that is going down.

 Yes that scenario happens thousands of times every day in America between married couples.  Sounds Risky.  

 Okay.  Now I get it.  You don't want the advice of smart, experienced investors.  You want to kick up dust over a social issue.  I'm not interested in that.  Best of luck to you.

 I got advice from Jay, a smart experienced investor.  But your advice has a bias that I am simply pointing out.  That's all.  I am not trying to make it a social issue, just asking why the situation is different.  

Post: Selling half a house to a significant other

Eric C.Posted
  • Investor
  • Grand Junction, CO
  • Posts 207
  • Votes 201
Originally posted by @Scott Shuster:
Originally posted by @Eric C.:
Originally posted by @Cara Lonsdale:

If there is no difference, why put your cashflowing asset at risk?  I say it that way because in one of your first posts you spoke to ownership rights in case it were to go bad - probably meaning that you feel the actual decisions (sell or re-buy out) would be yours....I know that's how I would feel.  In this situation you are the only one with something to lose.  Most of the posts here are trying to get that point across.  AKA knowledgeable person says - the stove is hot don't touch it, right after, of course, the unknowing person has to see for themselves, throws a hand on the stove and gets burned.  The difference is that you will be giving that decision making right away, unless you do a 51%-49% split, but good luck explaining that one - just like the prenup discussion.

I went through a similar situation with an ex (no marriage) of my own, we had been together for over 5 years, living together for 4 1/2 of those years, had everyone telling us that we should get married and all that mess, and thank God I did NOT listen to them and did NOT have her name on any of the documents or bills associated with the house...that conversation went over like a big, wet fart (Step Brothers (2/8) Movie Clip - Job Interview (2008) HD - YouTube) in church, but we still made it another 4 years. 

My advise - take it as a grain of salt - set yourselves up for future success...make a clean transition into this new chapter of your lives together - find a new place to live aside from your rental property, keep your property rented and keep collecting that money - hell, use it to pay your portion of the new place.  That way the new place will be yours together instead of the place that was yours, and now is ours.  Leave that mess for when/if you are married.  Worst case scenario - which should be considered because like you had alluded to - who knows if you, or her, decide one day - this isn't working, I want out...you still have something to fall back on.  Hopefully it all works out and you don't have to go through any of it, but wouldn't it be a lot better to not have to go through the what is mine, what is yours with your free and clear property?

Hate to add this last part cause I don't know your entire situation, but since I don't know you from Adam, do consider what is the underlying reasoning behind her (I'm assuming from the OP) bringing this up?  Hopefully she is the type that wants to pull her own weight, but in my experience this may be her subtle way of saying, we've been together for 4 years...time to either sh1t or get off the pot....but that is a decision to be made by y'all - get married or don't makes no difference to me.  Make no mistakes this isn't a business decision, but a life decision.  Best wishes on all of it!

PS - THE STOVE IS HOT!!!

My point is in the hypocrisy of so many on here that will gladly give advice to a young newly married couple to go into debt with a 3.5% down FHA with no true equity and if one person in the couple wants out, there is NO easy way. Neither can afford the payment without the other, and they don't have the equity to cash out and sell.

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