All Forum Posts by: Account Closed

If you wanted it "hard core" by the 1st, you should have made the due date on the prior 25th.  You caused this.

Is your contractor also an appraiser?  How does he know how much it would sell for afterward?  He has a vested interest!

 $5000 is one I've heard often.  Thing I'd be checking on the most is the history of the place and references.  Compared with public securities regulation (which itself is dubious) private real estate syndication is a free-for =all.  That's why I prefer to be the sole owner.

By the way-- have you considered second mortages?

 From  a conservative investor:  why not buy a small condo to "practice" on?  I know soooo many people who get taken by "partnering".  

Get a condo, get a licensed property manager, and "manage" your manager.  This is how you do that:  you get the property, and then every few months you call the manager, and you say,  "Hi-This is Eric.  How is everything?"  Your manager is a broker licensed by your state with good search reviews and identifiable references.  Not to mention it's hard to beat 10% cap as compared with 2% on many so-called multi-families today.  

Nice brick building.  Will last forever.  May I ask the loan term?  Was it 30 or sooner?  

Federal lenders lend on buildings with 1-4 units.  Once you get to five units you need a commercial loan.  Realtors want to sell properties, not wait for loans to close.

How much would Edison have charged?  Therein lies your answer.  

 One way to get him to hate real estate is to become an agent.  

Hi Everyone-

I'm investing for 30 years in small condos.  Would be nice to connect with others doing the same.  I love the cash flow,  easy maintenance and that I even bought one using a credit card once for a down payment! 

 I disagree about the "do something you love."  I say "do something that will get you a down payment.  It doesn't matter that much what it is.  Just get it done."