All Forum Posts by: Matt Higgins

@Jordan Moorhead I’m just saying if he netted 800$ a month that’s 9600 a year and if he was in at 20% of purchase (Instead of 100%) his cash outlay would be 14600

Income of 9600 a year with 14600 outlay 

@Tyler Putrah

I would probably hold that one. Sounds like if you put down 20% you are getting about a 65% annual return.

If you want to “cash out” refi

@Scott Schultz

US Credit card Debt highest ever @ almost a trillion

US household debt record @ 14.5 trillion

Highest US debt ever and the best employment numbers ever. A story for recession could easily be written off of that. What happens when companies start laying off again?

That being said I’m buying too. Interest rates are so low, the alternatives (stocks & bonds) are so bad, and in my market finding a value add is possible. You just have to be able to execute on the construction, the management, and rent raise. My belief is that if you can cash flow now, you will cash flow later, if you’re buying cash flowing assets on the low @ half of the cost of construction.

Austin Minnesota would have been a better cash flow market than Austin Texas, but 10 below all week and I don’t blame ya.  

You should be able to get 30 year financing if your numbers are right 

@Brad Schaeppi I think what happened was the bank purchased the certificate at the courthouse and then sold their interest as a quick claim deed via auction.com for a price higher than the amount of the sherif sale plus whatever auction and closing fees.

Seems like a predatory practice (if that’s the case) because why would anyone who understands the process pay more than the price of the certificate for the property when the home owner could redeem or sell the home anytime prior to redemption?

@Jeremiah Dexter I should also add that I’m not a title company, lawyer, or expert. I would feel horrible if I was wrong. Just giving you my limited understanding of the foreclosure process and my previous interactions with auction.com

@Jeremiah Dexter a quick claim deed just means you got whatever they owned. What they owned was a sheriff certificate. You should get the amount of the certificate back plus a small amount of interest. Unfortunately I think you will be out whatever you paid over that certificate.

When I search auction.com I always search only the “bank owned” properties and obviously they are picked through.

I always feel like if I was going to sell a building I would want it on loopnet. The only reason more deals aren't on there is because the broker with the listing wants to get both sides of the deal. Honestly, deals are hard to find so I don't blame them. Also, they want to work with proven closers vs the random phone calls and emails so I get that too. Just saying, it would be like selling a deal and not using the MLS and if it's my apartment put it on loopnet and offer it out to your favorite buyers.

I just saw a deal that had been on loopnet for a million in Rochester For a year traded last week at 75% list.  Damn, I would have bought it at that price!  So it’s definitely worth watching.

@Isaac S. great post.  You win bigger pockets for today.  Not sure what I liked best, the step by step act of mouse/plastic bag disposal or the hierarchy of pest.  Really good stuff.  Thanks for the laugh 

@Wesley W. would you wait to see if I catch a mouse before going through all that?  If it’s really that much involved I will probably have a handy man or exterminator come out