All Forum Posts by: Mike Kirby
Mike Kirby has started 5 posts and replied 88 times.
Post: Self Directed IRA for Fix and Flip
- Rental Property Investor
- New Braunfels, TX
- Posts 89
- Votes 70
Quote from @Brett Synicky:
Quote from @Shango Collier:
When purchasing through SDIRA for a rental property would you also have to seek out commercial lending since you (yourself) can not personally guarantee it?
Additionally a seller carry would work as long as it’s non-recourse. Also a sub 2 would work even though technically the loan isn’t non-recourse since the ira owner didn’t guarantee the loan.
Post: Michigan Surplus Land Auction starts August 1st.
- Rental Property Investor
- New Braunfels, TX
- Posts 89
- Votes 70
Quote from @Bruce Lynn:
Here's the list:
https://www.michigan.gov/dnr/-/media/Project/Websites/dnr/Do...
Not exactly a tax deed auction, but close to it. Might be worth a look.
Interesting in that their comments was that it was not hedge funds or corporations buying all the property. What I see mostly in Texas is that it is mom and pops and local investors buying at these types of sales.
Post: Turn Key Rental Failure from Rent to Retirement
- Rental Property Investor
- New Braunfels, TX
- Posts 89
- Votes 70
Quote from @Peter ONeill:
Yea I realize that in retrospect, remember this is my first deal. There's easily a dozen things I would have done different/better.
Hoping people can provide some advice on how to move forward and not just call out things I did wrong.
Post: Anyone has invested with Open door capital? How was your experience?
- Rental Property Investor
- New Braunfels, TX
- Posts 89
- Votes 70
Quote from @Jay Hinrichs:
Quote from @Chris Seveney:
Quote from @Greg Scott:
Wow. I just read through this thread. Seems like ODC has repeatedly set up their businesses in ways that increase risk rather than mitigate it. The biggest red flag for me now is that they continue to raise money, while projecting outsized returns.
I agree with @Chris Seveney's assessment. If you are giving investors 15% on a debt fund, they would need to be lending at something much more than that. Companies and people that borrow at over 15% interest will also have a higher risk profile. Did they say what portion of their loans they expect to go into default?
it looks like this is what they are doing:
well thats not confusing.. if I dont get it in the first quick read through how are folks not in the industry going to get it.. Not that I am some super math dude.. Chris how does this work
Post: In search of Recommendations for Landlord insurance
- Rental Property Investor
- New Braunfels, TX
- Posts 89
- Votes 70
Quote from @James McGovern:
I have found that Steadily is easily double what other carriers charge
Post: 4 Star Review because our river was dirty!
- Rental Property Investor
- New Braunfels, TX
- Posts 89
- Votes 70
Quote from @JD Martin:
Quote from @Mike Kirby:
Quote from @John Underwood:
I imagine that future guests who read this review will realize that the river is out of your control.
Also a 4 star review is considered a good review. A few non 5 star reviews will show your real.
The first non 5-star definitely gets under your skin. After that you don't really think about it too much. I just had a guest that was unhappy because in central Florida a lizard got in the house, probably during one of the twenty million times they went in and out the front door. They were also unhappy that their DirecTv stream didn't give them local channels (their subscription). So you know that's just part of it all.
Post: 4 Star Review because our river was dirty!
- Rental Property Investor
- New Braunfels, TX
- Posts 89
- Votes 70
Quote from @John Underwood:
I imagine that future guests who read this review will realize that the river is out of your control.
Also a 4 star review is considered a good review. A few non 5 star reviews will show your real.
Post: 4 Star Review because our river was dirty!
- Rental Property Investor
- New Braunfels, TX
- Posts 89
- Votes 70
Quote from @Mark Miles:
Quote from @Mike Kirby:
We just got a 4 star review because our guests complained in there review that the river was dirty so they couldn't swim in it. They also complained that the kayak launch area at the river edge was dirty and had "stuff" around it.
Our place is on the Guadalupe River outside of New Braunfels. The Guadalupe just had the worst flood in almost 40 years! We only saw water rising 4 or 5 feet from where it was before the flood but that completely submerged the kayak launch and it caught a lot of debris and dirt in it.
I would use ChatGPT to help you write a witty and disarming response to the review that will make anyone looking at your page laugh
Post: 4 Star Review because our river was dirty!
- Rental Property Investor
- New Braunfels, TX
- Posts 89
- Votes 70
Quote from @Greg Scott:
Ha Ha
Post: 4 Star Review because our river was dirty!
- Rental Property Investor
- New Braunfels, TX
- Posts 89
- Votes 70
We just got a 4 star review because our guests complained in there review that the river was dirty so they couldn't swim in it. They also complained that the kayak launch area at the river edge was dirty and had "stuff" around it.
Our place is on the Guadalupe River outside of New Braunfels. The Guadalupe just had the worst flood in almost 40 years! We only saw water rising 4 or 5 feet from where it was before the flood but that completely submerged the kayak launch and it caught a lot of debris and dirt in it.