All Forum Posts by: Jesse Hargrove

The thread is getting a little off topic. I feel the need to add my 2 cents. I hear this all the time buy homes put 20% down.

Example 100k buy 5 houses throwing 20k down on each house use leverage. There is one minor problem with this theory.

If you are talking 1-4 family homes, you must have the income from your job to get these loans. In my example 5 houses at 100k each you are leveraging 400k. When you are talking rentals, the bank will make sure you can float the payments if your rent stops for whatever reason. Banks dont like risk. Now if old uncle Fred has the 400k to lend to you then the problem is solved.   

Welcome to BP. Sounds like you are doing good. This realestate thing can be addicting. Keep in touch. 

@IAN GREEN 

Those fees are part of doing business. I thought that they were reasonable. I work in a company of 1400 people.

The company told us that it cost $80.00 to process one purchase order. So they get POed at us if we put in small purchase orders. Just an example of real world cost. I do see your point, if you are looking at 10K to 50K notes the fees will cut into your profits.  I own mutual funds too. There are fees too you just need to hunt for them. 

Good Luck in your note investing. 

@Ian Green Hello Ian, I have been using MIDLAND IRA for the last 4 years. They are in FORT MYERS. I have never had any problems with them. Give them a call they can give you information on the fees.

Good Luck

@John Thedford congrats on getting your license. It feels like cape coral has hit a peak. I am seeing more price reductions.

in the multy family market. My PM is telling me that the rent on single family homes is going lower or sitting. What is your take on the market. I have been investing in cape coral for 4 years but would be interested in your oppinion. 

@Andrew S.  I have been investing in cape coral for four years. That market is at or near peak in my oppinion.

I agree with Terry Fox that the migration to south west Florida will not stop any time soon. I would suggest talking to a few property managers first before buying. Anyone telling you that the prices are going up are not being honest. 

@Lissette Deleon Bad areas are not all the same. Look at the crime rate. That will tell you a lot. The most important

person in your team will be your property manager. I would suggest looking for that person first. I visit your area in RI. often and it can not be compared with Large areas of the country with millions of people.  

@Isiah Ferguson  I would agree that a smaller HVAC business will be less expensive. I have replaced 3 AC units complete.

The price was between 3500.00 to 4000.00 That was in florida. I would say get more quotes. It is me experience that AC units last around 12 to 15 years. The good news is when you replace the unit you should be good to go for many years.

Good Luck with your search.

@Account Closed There shoud not be a penalty for taking a cash lump sum from your employer. You should be able to transfer the cash value directly to a self directed IRA. My wife and I have done this. The issue with pensions are when you die it dies too. We wanted to have something to leave to our family. Our realestate is cash flowing the same as our payouts would have been from our pensions. Along with the property appreciating in value. There is work involved with real estate and our money is in our own hands. I guess it is a decision of set it and forget it, than stick with the pension.

Or get involved in realestate. We sleep very good at night knowing that we are in control of our money. We have nothing to do with wall street. Good luck on whatever you decide, There is a lot of great information on BP to help you learn more.   

@Dmitriy Fomichenko I think we all know how whole life works. I have been pitched it many times. The only one that makes money is the insurance company and the agent. We are realestate investors on BP. We invest in our own realestate. No mumbo jumbo will change that. I think we can just agree to disagree with him.