All Forum Posts by: Mike G.

@David Lecko

Thanks, nice to meet you as well David. Unfortunately I don’t have a Facebook and don’t plan on getting one. I’ll have to find a other way but I am looking at some other software as well and thank you for reaching out to me.

@Matt Greer im interested to get more info on this opportunity? 

@Ryan Beasley cani get some more info on this deal: ie: down payment requested. is it negotiable? pictures of the properties inside and out, addresses of the properties so i can see the population and closest metro area etc. . . . . thanks

@Frank Wong

The thing with the stock market is you have zero control. The fundamentals may look great the PE looks great the index charts look great but when there are more sellers than buyers none of it matters. In its simplest form, the stock market is driven by liquidity. What you have seen in the last 3 months is not by chance. Rising rates + QT + declining earnings.

I have traded the market for 17yrs and have been following it since I was 15yrs old looking up charts at my school library. I am no expert but I have 22k hrs of screen time of experience. The number 1 rule in stock investing is to manage your risk and to use stop losses. If you are not using stops you are essentially gambling. This is the one thing you have control of.

The main reason why I think real estate is the best investment is more control. Plain and simple.

Frank, I couldn't agree more frankly!!!! 

@Kyle Hardie

These Loan Sharks were through Connected Investors.

I made the mistake a while back of creating an account, boy what a mistake it was. I still get spam mail from them and ive unsubscribed from their email blasts i dont know how many times.  Its spam central.. . .  

@Casey Powers

Sprout Financil is crap. They claim you’ll get $$$$ in “unsecured lines of credit” with 0% interest for 12-18 months.

I spoke with one of their reps who was super aggressive and very careful not to ever say they would be applying for credit cards on my behalf. He would only ever say “unsecured lines of credit”, even when I specifically asked if they’re credit cards.

Of course they’ll need all your personal info to do that, and they won’t tell you which companies they’ll use first, so you can’t research them or decide if those are the cards you want. They won’t tell you about the large cash advance fees the CC companies charge.

So basically, avoid. You can apply for 0% intro-rate credit cards on your own. No need to pay someone to take all your personal info (and no telling what else they might do with said info). IMHO, Sprout Financial is just barely a notch above total ripoff.

Yikes!!! I think ill steer clear of them. thanks for the details about how they do business.  

@Kenneth N. Brown

At that time and place yes it sure does sound like this guy had a monster portfolio of paid off properties. Amazing !!!

@Derek Blades

Can you elaborate more on the inner workings, qualifications to obtain a portfolio loan... do you have to have multiple fix and flips or BRRRRs in the works at the same time?

Are there brokers that specialize in portfolio lending?

@Kyle Eckert

as @Jack Martin mentioned you must not skip over this critical step. Never take the sellers word and or pro forma for face value. you must trust, but verify. Walk the park and knock on each unit and make sure there is someone actually in the ones that he says have tenants and furthermore than they are long term residents with leases in place. The last thing you want is to buy the park and come to find out the seller was selling and getting out when 6 leases were "non-renewing" that very same month. Then you will be up a creek with out a boat or a paddle. So check the leases as well on the occupied TOH and POHs

@Jay Hinrichs

Matt this guy was seriously RICH.. he bought all that stuff in the late 50s to mid 60s for nothing.. that portfolio that his kids inherited has to be work 100 million or so. .. buying hoody houses in the Bay area back then and hold was some serious wealth making machine.

I sold him a Ranch ( when I was a land broker) late 80s in Nor cal for just under a million and he stroked a check for it.. LOL

wow, what a awesome portfolio that guy built for his kids to inherit. he must have been loaded to just cut a check for a mil like that lol  good lord. . .