All Forum Posts by: Neal Collins

Jeff Moe Using that HELOC to do a couple quick flips would be nice to add some cash reserves and keep you in the game to do some longer term buy and holds. There are deals in every market and it’s nice to have an intimate knowledge of a market and it’s geography before you sink money there.

@Mathew Wray Combining two separate lots for development purposes does create plottage value, however, it may not be enough to overcome the fact that the tear down is going on the market and will likely be sold for a high dollar amount, and you have a nice house worth half a million dollars that would need to be torn down.  In some instances it will happen, but not very often do the numbers work out for development purposes.

You can buy the rights of redemption, but if you’re under contract already then go ahead and close on it. The proceeds from the sale will go to pay off back taxes and you’ll be delivered with clean title at closing. Now if your closing isn’t scheduled for another two years then that is a different story.

I’ve got a good one for you Chris. Hit me up on my email and I’ll share contact details.

Too bad you can't vote a post more than one time. Great post @Dave Foster!

This is going to be very contrarian to most on this forum... but why wait for passive income to get you on your sailing adventures? You can sail the world hopping from boat to boat, doing odd jobs for different crews or in different countries, and can see the world. Hell, I ended up living in the Maldives for several years before I even knew passive income was a thing. It’s when you have a kid all that changes.

Tim Schroeder Bend has some very restrictive STR laws. It’s drastically changed that part of the industry from what I hear.

@Janika Bates The list should come as an excel or cmv file that you can open in Excel already. I would suggest filtering it down even further to refine your list. Learn how to mail merge to create your own marketing collateral. Yellow letters created a fantastic platform that made sending direct mail easy. They did such a good job that a lot of people jumped on that bandwagon and use the service. You may want to think about that in terms of getting your customers attention with your marketing....ie if they have gotten 10 other letters identical to yours, why would they call YOU?

@Joe Villeneuve makes some excellent points. You’re not saving by doing this. 

Your mortgage is at a historical 30 year low rate of interest. It comes as a fixed annual loan constant and will not change for the entire term. The value of a dollar will change over this time period however. Use your excess cash flow to go out and get more secure, low interest long term debt and marry it with an asset that can cover the nut from cash flow, it will appreciate in value, and you can depreciate it’s value on paper. 

Sean Trily The US is on a long run with low interest rates and a bull stock market. Values in areas of high demand are high. Certain areas will have better returns than others, but at the end of the day where do you want to live and can you afford to do so? Ohio (or insert any other city) might be a good place to invest, but do I want to live there? Not a chance. Similar yet different situation with a place like San Francisco. Sure it’s a cool city but there’s not a chance that I want to pay $12,000 a month for a five bedroom house that I pay $3,000 in Portland. Live where you want. Invest where it makes sense for your goals.