All Forum Posts by: Jeff G.

Forgive me, Brian, but what is it with people today? Cheap beyond their wildest dreams!

Drive 75 miles to save 3 cents on gasoline----"smart" way to save money when your car gets 16 miles to the gallon!

Don't be cheap. Searching county records is a huge time waster to check out "comps." How much is your time worth? Are you a scribe/ legal researcher or an investor? Does Donald Trump or others do it this way?

Deals are made in real estate by writing offers, not by bein an expert in comp. values.

Fastest way to find this, is through the MLS.

Why bother with tenants? People, lease option the joint! You get a better "tenant," and if they leave or default, you get a huge deposit (your fault if you didn't take one). If they buy the place, you got what you wanted. So, what. Do a 1031 and move the profits to another one, doing the same thing all over again.

For 15 years, I've never had a late payment, never had the guy change his oil from his Harley on my Dining room carpet, etc.

Lease/option----from the seller's/owner's perspective, is the best thing going. Why don't more use it? LACK OF KNOWLEDGE.

Your bank didn't "get it." I have all the products you'd ever need. I have a loan down in your neck of the woods right now.

Your bank, probably didn't like the LTV or something?

It doesn't matter that you have a rental property to get money out of it, it's a FICO/LTV issue. Most lenders still don't want you more than 80% LTV on a rental, but I have lenders that will go higher if you need.

Hope this helps!

The original question of "Can I make a better life for your 7 children," I have 2 kids and a wife for 19 years. My kids are: 9 year old daughter, and 7 year old son.

I've sold real estate and invested in it. Long term, investing in real estate wins. But, here in CA and other places, the recent 5 years have produced sales prices that are next to impossible to break even.

Here in Orange County, the average $650,000 house that's junk will only bring in $2,300 a month in rent. Spare me the 1% "Pay Option" negative amortization loans. In real estate, the long term---you want to get that house with the most equity you can get and get it paid off. Too many "gurus" out there preaching that "tax benefits" out weigh debt. Really? Does it make sense, to save 25 cents in tax to spend 75 cents to the lender? NO! That's why super wealthy people don't have mortgages on their homes.

I own a mortgage company. I sell loans for a living. The goal in real estate (I've signed 14 loans myself) is to get the house paid off.

If the investment cost $3,500 a month, and you can only get $2,300 a month, this is going to be a bad alligator biting you back!

Be careful on the "expert wisdom" out there----most are only pitching their new tape and course or seminar for you to attend.

Want some real "cash on cash" investing advice, call me.

I'd say if you're looking to support your family, like I have and do on a daily basis, become a loan officer, work from home, and sell money. Also, you can do your own loan with my organization, and avoid the costs and also have access to the money and property deals.

Investing in real estate (and I don't want to hear about the "lucky" ones over the past 5 years where a dog with a note in his mouth could make money by buying at $250k and then selling for $500k----this is luck and stupidity from buyer's in the market place not "slowing it down" and bidding too much----remember $800 gold stocks? It's coming here in CA), requires an understanding of ROI. Warren Buffett, the second richest man in America. Why hasn't he been buying stock and real estate over the past 5 years? NO BARGAINS!

Am I saying not to invest, NO! I'm saying INVEST, not SPECULATE----there is a difference!

Thanks,

If you're looking for property values, on what's a good deal, what's not, the most useful information is current market data. The title companies do NOT have this.

The best spot is access to the MLS. Why do you think all the appraisers use the MLS in their local area to compare market value of their properties? Ever seen an appraisal? It comes with 3 comps. coming off the MLS sold data, not the tax records.

If you're in Southern CA, I can do the searching for you.

If not, find decent mortgage professional that is part of the MLS. Then, you don't have to deal with the loser real estate agent that can't spell investing.

Hey, Marc, just curious. How'd you buy 50 condos? Did you get new money on each one? Did you buy and flip? Fix up? Or just profit went bought, and then flipped them?

Steve, give me a call! I'm an investor, and I own a mortgage company with access to the MLS.

If you're looking for the "right person" to get your deal done-----look no further.

I'm in Newport Beach, and not that far from you. I've helped several clients in your area.

There really is no better way to get the REAL comps than through the MLS. Not these "Homeseekers," "Realtor.com," etc. These things are not updated like the MLS up to the minute. It doesn't have the statistical data you are seeking: What people paid for the house last sale, what prices are going for per sq. ft., etc.

2 choices: Find another agent that isn't the idiot you dislike, or you wouldn't care it's with an agent.

or:

Get licensed, hang your license somewhere, and get access to the MLS yourself.

Unfortunately, the real estate laws are what they are in each state. The MLS is how 98% of ALL real estate is sold. You can try FSBO.com, etc., but there is only a limited amount of homes sold like this, and these folks only wanted to sell their homes themselves because they were cheap and didn't want to pay the real estate commission----which they could have negotiated it down, if the "6%" was too high. In my area of Southern CA, realtors only get 3% of the price, as the competitive nature of the business has driven down the commission structure.

Big time, are you tearing this down with your own money? Or are you using a Construction loan to do it? What state is it in?

A garage!

Here in Orange County, CA, it takes $650,000 to buy a 1958 "old looking" 3 BR 2 BA house in a junky neighborhood.

I own a mortgage company, and people DO NOT make the income it would take to buy this average piece of crap! The prices of real estate are ridiculous out here!