All Forum Posts by: Larry Seith

Hi Laura,

Here's quick and inexpensive way to get a website up and running and which does't require any technical knowledge.

Purchase a domain name at GoDaddy.com for under $10 and then go to Weebly.com to build a FREE website. After the site is built (it's all just drag and drop with templates so it's really easy) you have GoDaddy redirect your domain name to the Weebly site. It can all be done in less than an hour. If you have questions just IM or email me. I'd be happy to help you out.

Larry

I too would recommend anything by Roger Dawson. He is a great storyteller!

I visit BP because I like to hear the "real life" stories of other investors. It's one thing to read something in a book and think that everything will go perfectly well, but it's another thing to hear that sometimes there are bumps in the road and sometimes tenants don't pay the rent when they should or a deal that works out in the book doesn't cash flow in real life because the book neglected to include certain things in the expense column.

Bottom line is that it is reassuring to hear that real estate investing is sometimes hard work and you need to keep educating yourself to stay ahead in the game. Thanks Josh for the great education!

Hi Andre,

Congratulations on a successful flip! In your original post you said you had to wait the 90 days due to the FHA seasoning but in your other post your timeline adds up to only 9 weeks. Did you hold off starting construction for 3 weeks?
I've also run into the problem of seasoning and was wondering what worked best for you.

I stand corrected.
But I'll take that 233% return anyday!

A stock going from 4.5¢ to 15¢ is a great return! More than 300%

If you had invested $10,000 you now would have $33,333.

Let me add my frustration with these ridiculous rules! How does this help get foreclosures off the banks books and get people in affordable housing if investors are being forced to hold properties for so long? While sitting on my rehabs waiting for the end users financing to come through I've had the gas lines stolen out of one of the houses! This was after the plumbing was stolen a few months ago after the 5th prospective buyers financing fell through! Now the current buyer wants me to include new appliances in the house before closing! Yeah, right!

So what's the answer? Purchase a flip but wait 60 days before you even begin the rehab. And then immediately put it up for sale with the caveat that you won't be able to sign a contract for another 30 days? Arghhhh!

Bob,
The NWREIA meeting that happens each month in Salem was last thursday. However, they have meetings in different areas around Portland and tonight there is a meeting in Tigard at 6:30. I will be attending so if you are able to make it, I'd like to meet you.

Hi Bob!

Welcome to BP. There is an amazing amount of information available on this site. Not to mention the entertainment value of some of the posts!
I'm in Dallas, just west of Salem and look forward to meeting you at a local NWREIA meeting sometime.
Good luck in your investing!

KW,

You mention the term "net worth" several times in your post. That must be very important to you. High net worth alone in retirement isn't necessarily a good thing. You could own a $4,000,000 home free and clear but not have any money for food and property taxes.
On the other hand, you could control 80 rental properties that bring in $8,000 a month in cash flow but still owe on all of the mortgages. In which situation would you be better off? I think it was Robert Kiyosaki that talks about "putting money to work" and not letting in just sit idle doing nothing for you.
Of course you don't want to be in debt for more than your investment properties will pay for but you don't need to be afraid of debt. Again Robert Kiyosaki mentions that there is a big difference between "good debt" and "bad debt." I hope you reach your goals whatever they may be!