All Forum Posts by: Michael Gunn

1.) Money or knowledge?
-Which one is more vital to REI.


2.) Taxes. 2 Annual incomes, which will you pay more taxes on? (Including capital gains scenarios)

A.$2.5 million
B. $10 Million

3.) Last question:
-IF You could pay ( $0 ) in taxes per year plus receive 5-6% interest from Lending $2.5-$10 Million dollars backed by RE.
Is that :

A.) financially smart deal for a pro
B.) Or run away

FYI, these are real questions with answers. But, what do the experienced guys think??

Also, have you ever put consideration in purchasing portfolios of rentals?  For example 61 of them in cleveland that has a strong rental market and could produce upwards of 14%cap rate? 

Ok I sure will. Thanks

Do you have a particular area or state you are looking to purchase or will you buy nation wide?? I have a good opportunity that may fit what you're looking for.  

How have you been finding them? I can't find any to buy 

I'm looking to purchase off market properties like storage units or apartment buildings.. How do I find them off market though? 

Here's what I would do If i was inherited that free and clear; I would refinance, pull all of the equality out to purchase another multi family doubling your income.  Now, don't use all cash to purchase the new multi-family. Get financing pay the 20-30% down with your refinance money, then put the rest of the refinance cash in your pocket for a rainy day or better yet buy another property with more lending and another 20-30% down (rinse and repeat). Just create more income by the leverage you can have available through the refinance and a good lender for new loans. I have a performing asset based lender if you'd like to use him to purchase more. 

Good Luck, 

Mike Gunn