All Forum Posts by: Joel Warner

Hey Sam I'm personal friends with Nancy Davis, let me know if you need something. I just passed up a deal earlier this year... still kicking myself... it was only $70k, the investor had it rented out in 2 weeks after purchase! Didn't have the cash fast enough.

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safe, yes if done correctly... problem is, with no history and no personal garuntee, no money!

NEVER finance a depreciating asset. If you have to ask, you can't afford.

bad idea #1 Expecting relatives to hold up their end of a deal. bad idea #2 Starting in a class c neighborhood bad idea #3 long distance landlording without a professional that's three strikes.

That's a tough gig. Keep trying different banks, maybe forget to mention it to the next bank that you have it up for sale. Or anonomously inquire. DONT LIE.

1. does the total gross income include the 1k/month rents? 2. $200k each for a manufactured home sounds high

300+ business cards, and a way to take info down quickly, good old spiral pocket notebook and a pencil, or electronically, although I find it difficult to organize my spur of the moment thoughts electronically.

30k is at the very least gap money. network, network, network, until you find someone who is doing deals frequently, is short on capital, and will let you look over their shoulder.

I know some small time folks prefer separate Llc's for each property.