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All Forum Posts by: Jim Wineinger

Jim Wineinger has started 22 posts and replied 1256 times.

Post: The Walk Through

Jim WineingerPosted
  • Real Estate Investor
  • ten mile, TN
  • Posts 1,491
  • Votes 374

I just cant imagine why this is the slow way since there has been several posts now in such a short time.

Sounds like you have located a guru or someone who wants to profit by directing you to a guru.

I am not one to interact with about a walk thru as the homes that I buy have been abondoned and there is no interaction as such which you are describing.

But there will be others here who will also answer you.

Post: The Walk Through

Jim WineingerPosted
  • Real Estate Investor
  • ten mile, TN
  • Posts 1,491
  • Votes 374

Dont stick to the Wholesaling forum, there is information also on the REO forum and the financing forum. Also check out the posts concerning apprasials and how they do their walk through's.

There is so much information here that you should not have to pay for any guru's course(s) and you will get more complete information than they usually put out.

Post: Health Insurance

Jim WineingerPosted
  • Real Estate Investor
  • ten mile, TN
  • Posts 1,491
  • Votes 374
Originally posted by J Scott:
Originally posted by jawsette:
OK, so you passed a law that says we have to pay a penalty for not being able to afford health insurance.


Read the bill...

Costs are reduced or waived for those who can't afford coverage...

More promises. No actual figures given. How often can that "affordability" be changed. Who controls that changing criteria.

I remember other such plans of governemnt taking care of people that now have reduced benefits and copays. Such is governmental promises.

Post: Thoughts of office building/storefront for first venture?

Jim WineingerPosted
  • Real Estate Investor
  • ten mile, TN
  • Posts 1,491
  • Votes 374

Quick answer is yes.

Dont trust what a seller says about anything. VERIFY it is correct. Have him give you a copy of the warranty from the installer!!!!

Is his insurance policy transferrable? Is it really adequate? How much will it cost to insure you against any losses from those store employees or their customers since there are known problems with the property?

YOU MUST calculate these additional costs, caused by the sellers neglegence of not having things fixed up, then subtract that from the purchase price, or you may have to use your "reserves" to fix them up yourself.

This is not usually the way to go for a first time deal as there will be many things you will not foresee that could sink you. But if you have the reserves to wheather that storm then commercial deals will do you very good indeed.

Post: personality traits or determination

Jim WineingerPosted
  • Real Estate Investor
  • ten mile, TN
  • Posts 1,491
  • Votes 374

Actually determination plays a very large factor. But how determined you are depends upon the other mentioned factors.

If you crash into a wall long enough, you will weaken it and it will fall.

First of all you must love what you are doing. If you do not choose something that you love your determination will wane because you are not wanting to do it anyways.

Your understanding of things helps with making the jobs simpler and more enjoyable, therefore increasing the determination to succeed.

Post: Health Insurance

Jim WineingerPosted
  • Real Estate Investor
  • ten mile, TN
  • Posts 1,491
  • Votes 374

OK, so you passed a law that says we have to pay a penalty for not being able to afford health insurance.

How do you collect that penalty, when we cant pay for health insurance? Going to charge us with contempt and send us to jail? Going to force business to pay us enough to pay for health insurance? Oops, more unemployment and more without health insurance as those business fail.

I guess if you take us to jail, the government will give us that health insurance for free.

Post: how do you find rental properties?

Jim WineingerPosted
  • Real Estate Investor
  • ten mile, TN
  • Posts 1,491
  • Votes 374

Nick, some of the best deals that I have found are through tax sale auctions.

There is usually a redemption period (you have to be patient) and these rentals are not usually the best kept up places since the owner is financially strapped usually for 2-3 years before it gets to an auction.

Post: Does the house of cards begin to collapse?

Jim WineingerPosted
  • Real Estate Investor
  • ten mile, TN
  • Posts 1,491
  • Votes 374
Originally posted by Richard Warren:
Social Security is about to begin paying out more than it takes in.

Article: http://news.yahoo.com/s/ap/us_social_security_ious

Since the Social Security Trust Fund is nothing but a bunch of IOUs, how long will it take before people realize what a sham the whole system is? It’s nothing more than a legal ponzi scheme.

Before the usual suspects start chiming in about who’s fault it is, keep in mind that neither Democrats nor Republicans ever had the guts to face the issue for fear of losing votes.

:cool:

When hyper inflation comes (if it does), the cost of that loaf of bread will be so enormous that even if all the government monies were transferred into the Social Security Trust Fund it would not be able to sustain even an adequate living for those on it.

This will cause cutbacks so that the payments recieved by those who depend upon them will not sustain their life. When this is realized by that group the looting and rioting will begin and there will be a breakdown of society (It is currently happening in Greece and other parts of Europe, so dont count on the Euro either.) as these revolts increase.

So Hyperinflation and economic colapse are the same thing as one leads to the other.

Dont forget that civilization as we know it is a civilization of free will not a civilization of being told what we must do!

Post: EPA Lead Certification - MUST READ

Jim WineingerPosted
  • Real Estate Investor
  • ten mile, TN
  • Posts 1,491
  • Votes 374
Originally posted by Tim Wieneke:
This one is too important for politics and frankly I can't think of anyone on the forum who'd be happy about this. I ran into a problem though.

Everyone look at this link. It is the pdf of the application for certification.

I thought it was $35 to apply for the certification in one jurisdiction and it's a 3 year certification. As I read this...am I wrong? Is it $300 or $550 for a 3 year certification in one jurisdiction?

http://www.epa.gov/lead/pubs/firmapp.pdf

Tim: Revisit the language. The $300.00 is for a FIRM and the application that you linked to is the FIRM application, but the new ruling is for PROPERTY OWNERS who do the work themselves without hiring a FIRM.

Property owners could indeed be firms, especially for large rental units. And the $35.00 fee is Each additional EPA-run "jurisdiction".

No where does it say what the INDIVIDUAL's fee would be!!!!!!!
And homeowners (so far) are exempt for their personal residences.

Does this mean that it might behoove us to have the rentals in our personal names?

Post: Can You Really Buy Property with NO MONEY DOWN?

Jim WineingerPosted
  • Real Estate Investor
  • ten mile, TN
  • Posts 1,491
  • Votes 374

Happens once a year, usually at mating time!

Just make sure a black widow does not crawl out!