All Forum Posts by: Mike W.

That is what it sounds like.

Some idiot didn't pay his taxes and now because they didn't pay a little $300 bill, there house is going up for auction...

I would never rely on a third party to decide on whether or not something is a good investment. You need to see it with your own eyes and hire your own inspector and contractor if you need bids.

Just get 5 bids on any project and you soon understand that there is no standard to how much things cost...

I am guessing you found a lien auction list? Either way...

HBP-Home Buyers Premium. This is to cover the fees for the sale process
Assessment may be a true appraisal, but more likely what the county assessed the properties value in Jan of 06 or less likely Jan 07.
Sales Price is likely the starting bid in an auction or whatever the lien holder is asking for the property if not an auction.

Become a philanthropist.

Mr. Hovila or is it...Hughes :wink: ...

I, along with the OP MikeOH I think, would like to understand how it is that Edmonton has such a higher ROI on real estate investments than every large market in the states.

This guy who is managing your units for 1% of gross rents must but nuts, or the people that live in your units must be robots, is he a partner?

How many of your 182 units are currently vacant out of curiosity?(this is a trick question, if you choose to answer it)

I have extensive knowledge of this system.

Many followers of this Bill Gatten are cultish at best and strait up mean at worst. Notice I say many, not all. Some can be reasoned with others not so much.

After my extensive study of the Bill Gatten system. The only reason I would consider using the NEHT system is for an equity share.

As for all the "this is the only way to do it without violating due on sale" blah blah blah..." Because most lower courts don't understand trusts, you will be spending far more on legal fees if you have a problem than your deal is worth most likely. So it doesn't matter if you are legally right if the courts don't find in your favor, without costly appeals.

Moral to the story, do whatever suits you, be honest and your outcome should be good.

If you have specific questions I can most likely answer. I may do a write up on NARS, but haven't bothered as of yet.

So, you must have a management company and maintenance crew then. They don't require any day to day management?
No apartment turnover or showing your units to deal with?

If not enough to do, Home Depot or your local home improvement center could always use your help I am sure.

The common thing that folks I know that are in this type of position, is that they continue doing deals, because they are enjoyable. It is fun. When the business becomes less about making money and more about the fun of the chase, it gets less stressful. People need to be added to help growth, but overall that seems to be common with friends who are financially free from having to work.

It comes down to perspective...

Sounds like a fun software development project...

The core software development would be a good project, but the bureaucracy behind getting the MLS's to allow you to use their data is a trick. Each MLS you get data from would have to have a "sponsering" agent to give the software to.

A cool idea for a project. Web based would be ideal...Not sure of the profit potential however...probably not much...

r2,
Are you sure you are a millionare? Maybe...but...I dunno...

You should look yourself up on the internet sometime. It doesn't read very nice. The press in edmonton hasn't been nice to you.

I don't trust folks who have been sanctioned for fraudulent dealings in business...no matter how good some of your advice might be.