All Forum Posts by: Jason F

What do you think would be 'best' for our economy and for Roy, risking losing them all OR trimming the fat to benefit his portfolio. I think Roy, and our economy, would much rather him save 11 of his properties.

I don't think anyone INTENDED on having the US taxpayer bail them out when they got into these deals. Do you think people were buying homes 3 years ago thought, 'well, if this doesn't work out, I'll get the us tax payer to bail me out'.

The truth is, this market is a market. You get a return on your money but there is a risk that you lose your money. Someone lent Roy money for a return knowing there was a chance he would default. Sorry, but that's the way it goes. It's not Roy's fault that a million other people are in the same position. If you were in his position, can you HONESTLY say you would be thinking about the long term sustainability of the economy???
Sorry guys, but you would be thinking about yourself and your family. Does that suck? Yeah, but welcome to the free market.

I would take things you discover on CL with a grain of salt. 90% of the people on CL completely waste your time.

I've had items for sale that I get dozens of hits on and they all seem to go no where after the first email. People get excited when they see an ad and then write the person for more info, but deep down inside can't afford it or haven't really thought about it.

I'm sure it would be helpful to an extent, but I wouldn't make any financial decisions off of the 'interest' a CL gets.

We rent from RedBox ALL the time, it is very convenient and much much cheaper then Blockbuster. You also don't miss out on the 'instant gratification' that you don't get with NetFlix.

The only downside is you have to actually walk into a McDonald's and deal with the smell.

The other franchise is called DvD Now Kiosk or something to that effect. I'll see if I can find it.

Not sure if everyone has heard of RedBox but it is a movie rental machine that you slide your credit card to dispense a DVD that you select. No contracts, no late fees, just $1 a night. If you run home, watch it and return it 2 hours later, the movie is just $1.

RedBox doesn't franchise but I've found a couple other companies that do.

Just seems like a great idea depending on price, etc. Would be an even better idea for apartment complex owners. Put one of these in the laundry room. Make some extra revenue and have it serve as a nice amenity for your perspective tenants.

Are you wholesaling it or buying it?

I don't see why it wouldn't be a good rental at $700/mo, seems like you are cash flowing.

The only thing I would be weary of would be the rental market in Cape Coral. What happens if these tenants leave? The supply is insane there (hence the 45 of ARV and ability to assign) and the area is losing jobs as 17%+ of it's employment base was dedicated to construction. Just make sure your $700/mo it's receiving in rent is comparable with nearby properties. Soon, as more and more of the foreclosures are bought up, I think you will see a lot more 'rental properties' coming up in that market.

Very true Mike, nice summary. Now you just need to post that every time someone comes on looking for quick advice and never comes back to the site.

The FDIC insures up to $100k for normal bank accounts. I would check to see if your MM is FDIC insured. I wouldn't be surprised if it wasn't.

Even it if is, it doesn't mean it's 100% safe. The FDIC is going through some problems as well.

A friend of mine has been trying to get her $$ out of AIG for a week now. So, you can tell them you want your money out, but it's just a matter of when you get it.

Yeah Jordan, try telling a 70-year old widow that her $45k 'is cash that isn't worth anything and she shouldn't worry about protecting it'.
I'm not speaking to the long term value of the dollar, we are talking about why Americans are buying safes and guns. Why? Because the first thing that people do in hard times (which goes back to comparing NOW with the 30's) is take there money out of banks and hold it until they feel safe. As protected as everyone tells you your money is in institutions, a lot of people don't believe it.