All Forum Posts by: Ned J.

What I learned....... like Buffet says... when there is blood in the street start buying..... I only wish I had more cash leverage at the time to buy like crazy. But like many others I was scared of what the future held....could I lose my job? wife lose her job? all my other investments tank? I was scared to extend myself with a nebulous future. But in hind sight, I should have bought a TON of foreclosures. I bought my 3 current rentals in 2011-2013 area, so I still did pretty good as far as purchase price, but I would have been even better in 2009-2010....

When the numbers don't make sense they don't make sense....don't get suckered into buying stuff just because every one else is... the "what am I missing?"

I think there is a balance for "paying it forward"....this is true for life in general, I've had people in my life that have passed on their knowledge and wisdom with very little expectation of some benefit to them and if I can do the same for someone else then I feel like I should do it....up to a point. If I can help people not make the same mistakes as me, then I should do it....up to a point. I'm not going to hold your hand through everything and spend hours and hours answering questions or emails, unless there is truly some direct benefit to me....its all a matter of degree.

I love this forum in the fact that I can pick other peoples brains, so I can learn and not make the same mistakes. I would never consider taking up a lot of people's times or asking for lists/data/financial statements etc etc...that's stepping over the line

Asking about some of your contacts? I don't see that as a big deal to ask for a name or company that you have had good luck in working with in the past. If I can stop someone from getting screwed by some company I got screwed by, then why not? Like asking about who you have used as a lender in the past? Saying "Ive used Joe at Bank X, and have had good success" is better than saying " find your own lender and good luck on not getting screwed like I did"

Its a matter of degree and people need to respect boundaries of expecting others to commit a ton of time to walking you through REI

Tough spot....no way in hell would I let them help me pick the new tenants. Time for you to talk to a lawyer about getting a formal restraining order. If the police are being called out repeatedly and they are finding nothing, then the neighbors are making false calls and the police should have some recourse to force them to stop....you may just need to push them harder as they will take the easy road as long as you let it slide and don't make it a big deal.

Time to talk to a lawyer.......

Questions for those who use Zelle....is it all automatized to send sned reminders, draft $$ etc, or do you have to send a request each month etc etc?

No doubt REI is more "hands on", especially when you first start out....you know nothings, you don't know anybody and you have to be involved in finding and choosing properties. If you play your cards right and build a great portfolio you can be less and less "hands on", So if you just want to write a check and turn your investment over to someone else this is not the route to go

The thing I like is that I have some control and the assets are actually tangible.....its an actual piece of material I am buying....not some theory or idea or general sector based on future earnings that I am betting on...al controlled by someone else and loss/gain based on parameters that I have zero control over and really don't understand....why the hell did my mutual fund go in the tank?...oh because of issues with material coming from China which  is having currency issues due to a conflict in the middle east.....what? I have no clue what all that means and how it is directly effecting my investments...

I have investments in stocks, mutual funds, IRA, 401k etc etc etc.....so I'm doing stuff in that sector too, so REI is only part of my investments...but I understand and enjoy the REi more.....its more "real" to me....but it is more hands on

My opinion is this is a MASSIVE f-up by the company that could very well sink it, but its not purposeful fraud. All companies screw stuff up.....its all on how you handle it, and communication with its customers is key....which apparently they are doing a horrible job of doing. If I was a customer I would be very pissed too.....but I don't think I would be screaming criminal fraud....

Hope it works out for all of you..

a MH that old and debilitated is a "throw away" item..... tear it down, haul it away and fill the space with a new unit and rent it out..... the value is in the space....not the home......

I think the "don't pay off your house since it makes you a target for lawsuits" is an urban myth and complete BS. There are other viable reason to argue but this one is BS. If you have that fear then having adequate insurance is an easy solution and a better option anyway.

Going into a financial partnership with a couple that you have a close friendship with is a disaster waiting to happen. You can be friends with your business partners....but not business partners with your friends...... it usually doesn't work out if you want to continue the friendship

Business and $$ develops stress and conflict....the death of friendships. Especially if it's 2 couples....... that's 4 people that all have to get along when there are emotional bonds within and across couples

My advise.....don't do it......

You pay interest on your balance......think of it like a credit card where you basically put your house equity up as collateral. If you have zero balance the bank has nothing to collect interest on. If they are charging you other fees etc, time to find another bank