All Forum Posts by: Mike Henderson

I have not done this test yet. I don't know if I've been in a property with meth yet. I'm dying to find out. I was hoping somebody here either heard or knew about it.

I've got a can of starch on the grocery list to start testing. I got it straight from the parole officer that is what they use.

Man, do I want to try to argue with Mike in Ohio? I've never seen him lose. A couple of the debates I'll say they are a tie. I think I will. Trying to knock off a champ. No way will meth be a footnote in history. I think it's probably the worst drug ever. It's worse than crack.

I found this interesting. I got my data from a parole officer who works with level 2 people, the ones most likely to go back to jail. She has 110 cases about 40 are addicted to meth. Not one is older than 46, it's a drug that kills. I'm originally from Springfield, MO (Southwest Missouri). Meth has been big there for over 20 years. A legacy of the old moonshiners. There are a variety of ways to make it. Yes it is much harder without Ephedrine.

On a side note. There is a show on AMC, the cable network called Breaking Bad. It's a freaking awesome show and season 2 starts in the next month or two. Fine cable excellence like the Sopranos and The Shield.

A trick I think I learned this week. Curious if either of you are familiar with it. You spray starch on the walls. Normally ordinary starch. The wall will turn purple. Apparently it reacts to the phosphate. I got this from a parole officer. I'm wondering if either of you are familiar with this?

I'll be there.

Nice post. I think both are needed. Some people need motivational help others need specific action steps. You or I are probably self motivated and don't need the so-called "fluff", others do.

My action item on flipping a house. I'm looking at 6 next weekends. I'm trying to get my team finalized. Getting my brokers license, hopefully by the end of the week. I'm putting together the capital raising plan currently.

I have several goal throughout the upcoming year. The biggest one though is to do my first "fix and flip". I need this for the cash it will generate. Almost more important than the profits is the credibility. I'm a real estate agent as well and I want to practice what I preach.

Differences are with constant contact here is what you get vs own html emails

1) You can see how many people open the list.
2) You get your bounces handled by the site.
3) Your customers can subscribe and unsubscribe themselves.
4) You can track who forwarded it.

I've been browsing a lot tonight. Sleep schedule is all messed up. I'll reply because your a BP Donor :D :D :D

This was a negotiating tip I got from the Carei convention from Donald Trumps right hand guy.

Always ask
1) Is that the best you can do?

Wait until they counter

Then say we are getting closer.

As far as your interest rate and deal. It is not really based on those rates. Wachovia / Well Fargo now is just trying to get those loans off their books.

Wow this thread went all over the place. I rarely come to this particular forum, but let me offer my opinion and a few facts to maybe clear things up.

First the original question. I'm not sure how these people are in the know or what they think. I'm active as a mortgage broker and deal with loan reps on a daily basis. I think this is wishful thinking. I have heard no rumors of this, other than wishful thinking investors.

This is more of a political question than anything. I would not expect anything until Obama takes office and even then it will take a while. New people will be taking over in almost all positions in the upper levels of government. These people will need to be confirmed by congress. Then they need to figure out what needs to be done with the credit mess. This would likely not be the first thing on their priority list.

Then there are political ramifications. Everyone wants this "housing crisis" to be over. Will the Democrats want to help out investors to do this? That is a political question. My belief is that why would they help out the investors (vultures) in their minds.

On a side note, every day I meet with someone I try to figure out a solution to this problem. This seems to be the number one problem I'm running into in the marketplace. The person who finds a solution to the four house problem has a fortune waiting for them.

I'm not even going to try to answer all the other questions and tangents that came up on this thread.

Two facts that might help:

A lot of the questions and facts in this thread relate to FHA loans. FHA is for personal residences not investment property.

You can get a residential loan or in some cases a commercial loan on residential property, but you can't get a residential loan on commercial property.

This looks like a smoking deal to me. I'd investigate further to see what it looks like. I'm mostly interested in defered maintainence. I'd want to figure out what repairs you have to make immediately.

On a cash flow deal, that is what you are looking for.

I'll take a stab. Although I'll admit that Jon, David, and Will all know more than me about this.

First. What you said actually works just fine. I want to say though that the amount that you can borrow is limited to $50,000.

You can actually have a SEP or IRA hold the assets itself. You need to use an administrator for this, a company that does this is called FiServe or FirstServe if I remember. This gets you around the 50% issue.