All Forum Posts by: Gordon Starr

Maybe Morrisinvest.com? Hailey, you CANNOT go with this company. They are notorious scam artists and you will get a bombed out shell in the hood that needs torn down or something similar. 

You should check out the Dayton lot links program. At 750 per house, it is about the cheapest real estate in the known universe. A lot of places just need a little sweat and they are worth 20 times that.

Buy a distressed mansion on the fringe of the inner city and hack it into a few small apartments plus a magnus maximus apartment for yourself!

I actually saw that one coming, watching closely a forum called "the housing bubble blog", sold my entire rental portfolio in 2007 doubling my initial investment. My ex wife taking much, if not all the profits, though :( Then I went all in, buying all I could find in a very small geographic area near my home from 2012 to 2014. I learned how to rehab things myself, how to manage rentals, how to predict crashes. All very valuable, none more so than learning how to avoid marrying social climbing females! When your investments go on the skids, they will slide away too!

These numbers seem a bit too good. Most decent small multifamily that cash flows like that will be gone overnight. Is this d/f class? nightmare tenants? Tons of deferred maintenance? All these are potential reasons people will sell an occupied building with an apparent cap rate around 25%. With 5% down, you could easily start out underwater then sink to the bottom once reality sets in.. Better inspect carefully and background check the tenants.

 Perhaps a nice 1950's built bungalow.

That is a very good idea. The key in or out of state is to have a strategy where someone else takes care of all the work and you collect passive income. Another approach is have someone find you such a solid brick and hardwood you know low maintenance... little rental sf from the 1950s or just as good the 60s... carpenters guilded. You can also buy them from landlords who have them all set up and then go to a good local pm. Tha'ts two contracts away from the passive prize income machine. little more work up front but you can get a lower price that way.

"5 years ago at 187 (37 down) and I’ll sell for about 270" Michael, nobody should say you've made a mistake when you take a profit that hefty!  Congratulations would be in order! If you can still get deals in your local market, I would say go for it. If not, take your profits and eat caviar! A lot of people are using the 1031 chasing yield with turnkey operators out of state. Way to many "what ifs" for my liking in that proposition.

Sooner or later your landlord is going to make you angry. Sooner or later your boss is going to make you angry. If you are both the boss and the landlord, it will be sooner rather than later!

Jim, if you hadn't applied pressure like that, he would have just bled right out dead. I had a lady slit her wrist once.. same deal, it needed pressure to stop the bleeding. Took 911 half an hour to respond and they just sent a squad car. Pretty rough location and I guess they were busy. I spent the time trying to point out the things that make life worth living.  People never forget that kinda thing..

Leverage leads to a boom bust cycle. If too many people are leveraged, all it takes is something to go south and it feeds on itself because everyone was counting on their asset being worth some value or some rent at some future time when that is unknown. Its a risk all investors take. Being underwater stinks, don't kid yourself. Look at how many boomers are all leveraged out on a 30 year tied to their current income, with no hope of even living that long. Sorry to be alarmist, but I don't like the demographics or the current price/rent in most places or the degree of leverage in the US real estate. Rents are rigged at the federal level to go up slowly over time, though. So you MIGHT be ok anyway.