All Forum Posts by: Matthew Gil

Tim, you got your crooks confused.

The Treasury Dept and Secretary Paulson are the ones "controlling" the 700 billion. The FED is off to the side, busy creating fiat currency and devaluing the US Dollar.

Well, it is good to see that it has some cashflow, but what is the cash on cash return?

If I paid (using a loan and downpayment) and rehabbed a property for 15k total, 97 bucks cashflow is not paid. However, if I paid (using a loan and downpayment) and rehabbed a property for 150k total, 97 bucks cashflow is pretty poor.

I consider Ted Turner a tool. However, I saw him the other night on Lou Dobbs and his quote was, "Let them fail!" He went on to say that he and most people saw this coming over a decade ago.

I have a hard time handing over 25 billion dollars to such an inept bunch of characters (executives, middle management and the UAW). I feel like a broken MP3 here, but once again this is a systemic (I am using that word a lot these days) failure. The entire big 3 have to be overhauled. From top to bottom. We should not hand over 25 billion bucks, if the big 3 are going to act as business as usual.

Thanks. I speak from experience when I entered a new market, was unaware of the water biller's process and was stuck with a $800 water bill...Fool me once shame on you, fool me twice, shame on me!

They all stink. They are slow and inefficient. What is worse, due to higher turnover, by the time you build rapport with an asset manager, he or she has either quit or been fired.

The water bill is the seller's responsibility and the REO lender will pay for the outstanding balance. However, in some counties water is not lienable and will not show up on a title search. Now, you are saying no big deal, right? I will just give the water company a HUD and they will just bill me starting on the date that I bought the property.

Wrong! Some water companies will not turn on water until the entire balance has been paid and will not care one bit if the seller did or did not pay off the existing balance. It is possible for a buyer to get stuck with a 3+ thousand dollar water bill after the close.

To solve this problem, what we do is have our attorney get the most current water bill for the property and have it added to the seller's side of the settlement statement prior to close.

That is not a deal, it is an alligator. In this market you should not be buying SFRs as investment for over 65 cents on the dollar (assuming no rehab costs).

By my calculation, you should not be paying more than $81,250.

There were heated debates going on during the election process which is necessary for the "great experiment". However, I just assumed a lot of this nonsense was going to go away after the elections, when passions waned, but it did not.

I am glad to see that Josh is now cleaning up shop. It is good for the board.

Now, let's get back to talking about what we originally came here for and that is creating a financial freedom lifestyle.

Dan and Tim, is just me or did we start doing better as investors and getting more focused after we stopped going to all these Chicago REIAs?

Yeah, because it defies logic. Just like if Yetis exist or if aliens crashed at Roswell.