All Forum Posts by: Granville L.

WOW, that leads me in several good directions.  The research has begun.  I am going to build a team to select the right building. 

Thank you everyone for your feedback. 

@Timothy Maloney

Timothy,  What is considered "Small Value" homes?  Is that a bank term?   My homes appraised for around 2.5m and I owe nothing to the bank.  So if I was able to get a loan for 50% of the equity (1.25m), that should be enough to put down on a commercial property.

@Evan Manship

Thank you for your reply.  I like the aspect of using the 1031 to defer capital gains into the investment, but I would like to hold onto the homes.  I am not sure if it is possible, but I would like to take out a business equity loan based off of the capital in my company.  Thank you for bringing up the 1031 aspect.  I will do some more reaseach on that.

Hey Everyone. 

My wife and I started purchasing homes when the market down in 2009.  Over the next 3 years we bought around 25 homes.  We kept purchase prices down by buying homes with good bones but needed work.  I am a chemical plant inspector, and worked on my homes on my off time.  We sold some homes when the area of booming or when I needed to free up money for more purchases.  Right now we have 20 homes and I am happy to say that we paid off our last home in August.  This is the first time we have really been able to relax and enjoy our hard work.  My lawyer is also an investor but he buys office buildings, and it trying to steer me in that direction.  I think office buildings will be the next direction I take the company but want to make sure I build the right team to select a profitable building.  I would like to use a portion of the equity from my homes as a down payment for my next investment.  I was wondering is anyone had any experience in this, or could offer and advice on this topic. 

Godspeed.

Well, after 4 years of renting we have our first squatter.  Long story short, they paid for the month then did a stop payment on the check.  When confronted they said they were not paying so I evicted them.  Funny thing is, their AC went out a few days later.  I told them I was not going to fix it since the stopped payment on rent and we're evicted.   I contacted the local police department who stated that AC was a luxury and not a necessity.  The only necessities are dwelling, running water, and electricity.   I am looking for a good eviction lawyer in the Galveston county area.  Anyone know of one?  

Godspeed

Hey Amanda,

I live in the league city area also.  I do quite a bit of purchasing in the area.  If you have any questions, drop me a line. 

Yep

Hey Guy

No offense, but that's just what my wife said.  Now I am going to have to tell her she was right.  Lol..  I will look into chapter 92.  Thank you for your reply.

Godspeed

Hey Guys

I have this lady that has not paid rent and is not planned on leaving.  We have a court hearing on the 12th of this month, but I really want to trip her breaker and put a lock on the panel.  I know this is not the right thing to do, but I'm not the nicest guy and would get a kick out of it.  Any one done this before and does anyone know the local laws in this area for squatters that are not in a current contract. 

Godspeed

Belinda - thank you for the invite. I will be looking forward to it.

Nan - I am sorry but I don't do either. I don't buy on the island because I can't find any homes that meet my 1.5% to 2% rule.  I am also a little gun shy due to another hurricane.  I do have some friends that invest in modular home and do good.  I just find that at a certain point the home falls apart and the maintenance cost to keep it up to par is too high.  If you are moving in that direction, i am interested in how it's going for you and wish ya luck. 

God Speed