All Forum Posts by: Christian Morency

He's a scam artist. It can be done at any level. Some people just hope to get a holding deposit and run while others research high end properties and collect first and last and security deposits and then disapear.

Most people never take a check in the beginning so cash and money orders are hard to trace.

Besides, whoever thought of checking out the "Landlord"?

Andrew;

If I'm not mistaken, based on the 50% rule, you should not pay more than 50% of the rents expressed in thousands. So the first property would be worth $68,500.00 and the second one $71,000.00.

I,m new to this site and hope that if this is bogus info. that someone will correct me.

Along the same line, there is a 2% rule that say's (if I'm getting it right) that the rents should equal at least 2% of the purchase price. It works out the same.

For years I have not known about these formula's and for years I have not made much money. Plenty of equity buildup but never enough cash.
I do all of the management and maintenance, so I have gotten by, but I would not plan it this way again.

You can't grow if you don't delegate.

Between tenants I always install a drainboard under any sink cabinets. I just put a 1x2 in the back against the wall and put in a new bottom with any scrap plywood or masonite. This creates a flow of water from the back to the front and onto the floor so the tenants will call you instead of letting it rot. Most tenants don't like "walking on water". If there are pipes coming in through the floor, I patch the holes with a pair of sissors, flashing and some construction adhesive.

John,
My wife and I both browse this site and she couldn't help but respond. It is our first time on a forum and I must admit it is almost addicting.

Kim will set up her own account today and I will no longer be schizophrenic.

Sorry bout'hat, :oops:

Hi invester_guy, Glad to have you as a new member. I was born in Montreal and my Mom still lives there. I would also like to here more about yourself and the Canadian happening's. I'm thinking of visiting your city after the winter chill ends. I hate cold weather[/u]

Hi John and everyone;
Christian and I just reciently moved to Millbrook Alabama It to has the small town atmosphere that we like.
It is close to Both Mongomery ( wouldn't want to live there) and Prattville a great little city with a growth rate of 13% per year and holding steady. Great schools, Low crime rate etc.
I have never traveled outside of the U.S except to Montreal so I have no comparisions there. I would have to say that the San Fransisco Bay Area is by far my favorite place. specifically Tiberon or Half Moon Bay. We just can't think of paying the prime price for lodging.

I have been a full time investor for 15 years now. I started this venture in a small town a hour north of Sacramento Ca. I love the flexability of my lifestyle. While you all are hitting the slopes I'll be sailing the Seven seas!
Seriously folks this is a career. It takes time and action to grow. I agree with Dick keep your day job. Invest in your future until your cash flow is more than double what you think you need. Then jump in with both feet. Investing will pay off in many, many ways.

Great Smiley! I like it. Just a reminder to keep up the momentium. :woohoo:

I don't know the Legal side of that but why would you rent to someone you don't trust?
And as a tenant, why would I rent from a landlord who doesn't trust me and wants to basically have a default judgement against me before I default?

Hi John;

I really enjoy all of the posts you share throughout the forum. I am looking forward to your PM and the possibilities for the future.