All Forum Posts by: Michael Zuber

I went through a similar growth spurt many years ago. It was stressful but very doable. I would try to work with the sellers so you could spread the acquisitions out. Even if you had a two week window between closings it should be enough time to turn vacate units and re rent. The most important part would be the cash reserves.
Here is a crazy idea for you. Offer to buy all the properties from the current landlord. Ask him to take back a small second secured against each property so you can go get a traditional first mortgage. Then you could keep the ones you like and sell the extra's and pay of some debt. Again just an idea. I believe each of us can find "The Deal of the Decade" every month.

The only color that should matter is the color of their MONEY ...

Interesting.
I agree 100% that the banks are only interested in the bottom line and given the rules currently in place I believe they can continue to hold the loan (asset) at a artificially high value until they actual foreclose (Create the liability of REO). The recording of the actual foreclosure likely triggers a nice write down of assets.
If that is true then I suppose the banks have to be very careful how they push inventory to the market or they could create the need for another bailout.
Very interesting.
Good Investing

As a buy and hold investor I am looking forward to buying several additional properties in 2010. But one question I have to ask myself is whether or not the Shadow Inventory I hear about all the time is real or imaginary.

I figure given all the experience on this board that we might be able to figure it out for ourselves. Do you see Shadow Inventory coming on the market or is it all gone and just a dream.

What do you think??? Real or Imaginary??

I live about 3 hours from my investment market so I need Property managers for the daily grind of managing units. There are lots of ways you can play this but insist on only paying based on Rent Collected none of this pro forma stuff. Also I don't mind paying a setup fee of $100 to run the process of getting a good tenant in but if I have to evict them with in the first year I get that $100 back no questions asked.

I pay 7-10% depending on property and number of units

Another set of Great Goals!!!

Good Investing

Thanks Steve

I had to follow your lead again ...

These are all great goals!!!

Good Investing ...

You guys are good!!!! Thanks for taking the time to respond I appreciate it.

Thanks for the tip