All Forum Posts by: Stephen Masek

Something like this: 1133 Hill Mount Drive, Minneola (suburb of Orlando)?

Why does it have to done from a  keyboard?  Going to the neighborhood/city/county to observe and talk with people will provide the information needed to make good decisions.  

No pain, no gain..... Out of state has lots of pain from lousy managers with their lousy tenants.  The gain is appreciation.  Rima had rentals in multiple states and sold before the crash.  We now have them in seven states and are selling all of them (profit taking and we smell another peak fast approaching).

County assessors have that data. 

You can meet owners at apartment association events.

Several of you mentioned other countries.  Rima and I recently enjoyed three weeks in Italy and Lithuania.  California is infested with vast numbers of bums, but we saw zero, yes zero, in Vilnius, the Capital of Lithuania, and just three drunks at the train station in Rome and one guy with a tent near a castle.   Lithuania is clean, green and safe, but cars are 33% more expensive than in the USA, and clothing in Italy and Rome is far more expensive than in California.    

 Jamison is a good client of my company, and it is fun to see the success they are enjoying.  That will stop if they kill Prop. 13 for commercial real estate.   

Diversity only in CA?  I discovered Korean spa-saunas last year and quite enjoy them.  Even though LA has a large Korea Town, you will find the largest such facilities in other states, such at the two giant and super-fancy facilities in Dallas. 

It is sad to see the lousy roads, terrible schools (30% more per-student funding, adjusted for inflation, than in the 1970s when prop. 13 passed) and so forth in California.

A proposition to split California into three states will be on the ballot in November.  I'd give it a 50% chance of passing.  Of course, who knows how the Supreme Court would rule, but if it passes by a substantial margin, it seems unlikely that the will of the people will be ignored.         

• Do you live in California? Yes
• Have you lived in California in the past 5 years? Yes (since 1989).
• If so, where? South orange County
• Will you be staying or leaving? Not leaving yet, but see the danger Of Proposition 13 on commercial property being killed and vast number of jobs lost, or the radical Newsom winning the election and getting away with doubling income taxes (Venezula was a wealthy place with oil a few short years ago, now they have problems getting food and toilet paper, so don't think an economic collapse can not happen)   
• Why? The best weather in the USA, company in its 27th year with good clients 
• What is your full time income producing job? I own an environmental consulting corporation and am a real estate investor (currently selling all of rental houses in seven states - taking profits, and see a cycle peak and downturn coming) 

I will be 61 this year and my wife will be 56.  We have no debt and a net worth in the top 5%.   I started my environmental consulting (asbestos, mold lead, Phase I, PCA, etc.) company over 26 years ago with almost nothing, and had trouble paying for food those first few months.   

Buy a copy of Dave Ramsey's book ASAP and get out of debt.