All Forum Posts by: Jon Klaus

"DO NOT USE YOUR CREDIT CARDS!!. There are better ways to lock up properties. Do not run the risk of hurting your credit that way. "

Agree for most people, but the 0% deals for 9-14 months can be used judiciously IF you are obsessive about staying within terms, you have cash/credit cushions eleswhere, and you can pay them off "now" if needed.

"you can pick up a decent rental in our are for $50k.. really!"

Do you mind posting a link for property like this in Sacramento? Or reasonably close if you want to protect your sources? What do they rent for?

"maids quarters which is really a 1 bedroom standalone house in the backyard. the main house is not a duplex, but a 3 level house that has a 2 bedroom on 1st floor, 3 bedroom on 2nd, and 3 bedroom on 3d"

Sounds like a 4-plex? With 9 bedrooms total?

How much rent per unit?

"I am not sure waht BP is"

This website!

Another benefit to financial statements is that they give your banker confidence. Not just that they show profit and worth, but that you show you know how to create, read, and manage them. You are speaking their language when you talk P&L and balance sheets.

If you are using QuickBooks like Mike and entering everything, QB will automatically produce financial statements at the click of your mouse. You might need an accountant to set it up correctly in the first place, but that is money well spent.

"Fortunately real estate is everywhere " Very nice, but there is just more of it down here. What kind of rehabs are you looking for? How have you done on the ones you've completed in Austin? Welcome to BiggerPockets!

Welcome Cameron. What is Summit's specific strategy with foreclosures?

There is a lot here on foreclosures--I know I'm learning much.

Hassan,

Great blog. How many rehab/flips are you targeting in 2009? What is your tax avoidance strategy?

Mike and others, what is the best rent to price ratio you've had? I have an offer in on a duplex that should gross 3% of purchase price each month. I've seen some war zone section 8's that would do a lot more, but....

I am interested, Chanel.