All Forum Posts by: Account Closed
Account Closed has started 2 posts and replied 122 times.
Post: Why Do 97% Of Real Estate Investors FAIL?
- Financial Advisor
- CA
- Posts 128
- Votes 76
Originally posted by @Joe Villeneuve:
Originally posted by @Account Closed:
What does this even mean? 60% or so of Americans own their own homes. In that sense they are "real estate investors." Do you think they "failed"..?
...except your own home isn't an investment.
It certainly is. Many people get started buying that and fix it up or rent it out. I guess you are a person who doesn't get it.
Post: Small 1 bedroom condo 400sqft for $90K. Good investment?
- Financial Advisor
- CA
- Posts 128
- Votes 76
I don't own any studios, but have a one bedroom that is ALWAYS OCCUPIED. People love well-located deals. IMHO it is the hipster way to go. Some of the downtowns rents are unaffordable these days and people want the "happening scene." I say go for it. I run into a lot of resistance from brokers and managers about this, but they do not own one.
Post: Why Do 97% Of Real Estate Investors FAIL?
- Financial Advisor
- CA
- Posts 128
- Votes 76
Originally posted by @Brian Michael Kelly:
How are you defining success and where are you getting your statistics? I have several friends and family members that have invested in real estate. Most of them buy apartments or condos on a small scale and are very happy to receive some extra cash flow and build equity. While that may not make them millionaires, I would argue they are successful. And if in my circle of friends and family there are so many that have done this, this far exceeds the 3% you state in your post.
I think it is all a matter of perspective. You have to work hard, do your homework, have setbacks and push through them.
Really. I agree. I think this is a stupid thread.
Post: Why Do 97% Of Real Estate Investors FAIL?
- Financial Advisor
- CA
- Posts 128
- Votes 76
What does this even mean? 60% or so of Americans own their own homes. In that sense they are "real estate investors." Do you think they "failed"..?
Post: Will upscale resort increase property values in tourist town?
- Financial Advisor
- CA
- Posts 128
- Votes 76
Yes, thank you. I see your point. In this case though we are at the entrance to Sequoia National Park. Even if the 2000 year old trees all die, we have Mount Whitney and lots of bodies of water. We also get droughts and the water table is dropping so.....
Post: Dave Ramsey Is Misleading The Public
- Financial Advisor
- CA
- Posts 128
- Votes 76
He can say anything he wants if he is not securities licensed. Once he gets the license it's all over. He's agreed to be regulated.BtW the prospectus describies the goal of the fund. You can't say most mutual funds contain bonds. A lot do, but you can't say "most" because it depends on the legal goal set forth in the prospectus for a particular fund.
Dave is doing a service and pointing people in the right direction in a general sense. Often he gets people who are in debt and who are depressed headed in the right direction. In that sense he does a service and he has many thankful listeners. His pogram is national and also on youtube. I don't know why you think he only talks to southern church goers. You sound like someone who looks down on southerners and Christians. I don't think I want to be your friend.
Post: Decent Net worth/ credit question?
- Financial Advisor
- CA
- Posts 128
- Votes 76
Originally posted by @Allen Prather:
I’ve had several successful business deals but recently was set back and was forced to file bk. Will be discharged end of this month. Looking to get heavy into multi-family real estate. I’ve had experience with a couple flips and I also own 4 rental properties. What is my best route to get funding with my recent credit fail. Previous to BK I had excellent 800 credit and plan to get back to it. Any advice is much appreciated! Can I leverage one of my rentals as a down payment? And where do I get financed? Thank you
Standard lender wants bk discharged and wait two years. Hard money just wants 30% a lot of the time. Meanwhile see if you can find a "subject to."
Post: Can’t Track Down Absentee Owner
- Financial Advisor
- CA
- Posts 128
- Votes 76
Go to the recorder's office and see who's paying the taxes. If you live nearby drop over and say, "hi." There's a new thing called "spydialer" that is pretty reasonable at finding numbers. So far they have not charged for it but they will.
Post: [Calc Review] Help me analyze this deal
- Financial Advisor
- CA
- Posts 128
- Votes 76
Jeez; where can I get one of these? $3100 repair to raise the value this much? Where is this?
Post: Will upscale resort increase property values in tourist town?
- Financial Advisor
- CA
- Posts 128
- Votes 76
Originally posted by @Patricia Steiner:
The answer is "it depends." If the resort brings more people to the area seeking housing, then yes. Will it hurt Airbnb currently in place? Most likely it will for a while as the resort will be the place to be. Generally commercial development is economically good for the municipality providing jobs, tax revenues, and more if successful. It can also lead to increase traffic and consumption of limited resources. In Tampa, the development/re-development of our Channelside and Downtown districts have dramatically increased the demand for housing and both property values and rental prices have increased year-over-year. Those developments attracted other businesses to relocate here and the impact on housing was intensified and so was traffic, road construction, etc. A good thing? For us, absolutely. And, Airbnb ventures survived just fine as they readjusted their marketing to "be in the middle of the action." The resort project sounds exciting to me...I admire the investor for seeing the opportunity in a niche market. That's true real estate investing and wealth creation. Hope it is all of that for all of you.
Thanks for your thoughtful answer! The prices per night will be double and triple the prevailing rate of local hotels and airbnbs which now runs between $125 to $300 a night He is competing for a different market than what exists now. I'm for it if our property values rise.