All Forum Posts by: Mike Hurney

3 years Architecture
Bachelors in Mechanical Engineering
MBA

One of the first things we learned in Engineering school was that it's not possible, aerodynamically, for a bumble bee to fly.
But it doesn't know that, so it flies!

Sometimes I think education is actually a hindrance in this biz.
Good Luck Investing, Mike

Tommy Benson Hey Man, LLC can't finance the property (only as a commercial loan = higher interest lower LTV) and almost no protection from creditors, lawsuits. Sounds good on paper. As you start out there's very little Equity to protect.
Good Luck Investing, Mike
PS Starting with an LLC you can also put a cart before the horse!

Hey Manny C. I'm more interested in the Comps

Is there a RE Broker involved? They could do some work on value.

Or if it's financed, an Appraiser will put together their report which will have adjustments that compensate for amenities.

Good Luck Investing, Mike
PS As my Father often said "To avoid disappointment, always have an alternative!"

Hey Tiffany, welcome!
J's right the first 5 steps are in fact reading, reading,etc
Organizing in a notebook (Microsoft word) wouldn't hurt.
Good Luck Investing, Mike

Hey J, What's you Completion/On the Market projection?
Around here the market dies after Labor Day (kids not wanting to move schools).

I think that 8' knee wall by the entrance is an improvement.
There was something about walking in the front door and stepping into the Family & Dining rooms:-( I've been in enough houses in Marietta and tried to remember if that was a local thing.

Very nice curb appeal with that entrance/front view!

John A. all these naysayers with no skin in the game;-( Now I want to invest there!
If you check out the local REIA www.michiganrealestateinvestors.com
you can ask, a friend of mine, Wendy Patton for some insight into Motor City.
Good Luck Investing, Mike

Hey Brian and Family!
I'm not sure if you noticed there are a lot of Condos between Beverly and Providence?

I've looked at many opportunities in RI over the years and none I actually pulled the trigger on.
A fellow Landlord in our Association did very well. The neighborhood he invested in, required him to collect cash rents weekly.
I asked why he didn't take checks?
He said none of his Tenants even had checking accounts!
(not representative of Rhode Island at all)

I'm sure you've done your due diligence (research Income, Appreciation, Crime, etc) on the area you are looking at!

Good Luck Investing and see you soon, Mike
I asked why don't

David and Kristopher This is like the The Architects BP Collaborative;-) Long ago, I also started in Architecture and learned quickly that there was one Architect (with overall responsibility) on the job making $30k and 8 different discipline Engineers making $40k. So I switched to a niche as a Mechanical Engineer in HVAC. Most of the money I've made in RE was part time while working fulltime as a Project Manager.

David Ray Moreno if someone promised you happiness and satisfaction in a job, you may want to ask them for your money back. Because it ain't gonna happen. In fact your coworkers probably sense your attitude and groan when you arrive.

No more lecture but I can almost guarantee that if you leave there now, you'll end up worse.

In this business at our MassRealEstate.net Movers and Shakers meetings we let everyone know that we essentially take Lemons and make Lemonade. We that are good at this, can see a finished project that few retail buyers are able to, hence our Big Paydays when we Close.

As Bobby Boucher said in Water Boy, "Welcome to da Swamp!" Not really. Making the most of your current job skills and networking will definitely help your new part time job.
Good Luck Investing, Mike

PS At our monthly meetings, often folks will present a "deal" and the Investors will devour them. When they complain and say People at the Open House are so polite, what's the matter with these folks.
I ask Did they Buy at the OH? No
You'll at least get an Offer out of this crowd, at the meeting, that may have you reconsidering your price and whether you sell now or later!

PPS You're in the right place "It's Simple but not Easy!"

Mike B. Justin S.
Are you gentlemen Landlords?

Hey Arnie, you may want to start helping him find a less expensive place?
"I've never had a bad Tenant go good on me."