All Forum Posts by: Account Closed

It sounds like a perfect time for the savvy investor. Value investing is all about buying when others are looking to dump things cheap.

I know one investor relocating to FL after having made a ton of money in other markets. Better to buy when the market is down than when the merket is hot.

I am not sure about the numbers. Sticking to the high level version...

Based on the future value have you considered construction financing from the bank? They would pay off the 1st and then fund the work.

If you are offering the place for $80K and expect the repairs to be about the same a new buyer would be in for $160+. If the place is really worth $300K to $400K that sounds OK. Not sure that the rents line up. I also can not tell what repairs are optional given the idea that you might be expanding to 6 units.

Something is off if no one is interested in buying.

Consider selling a partial stake or doing a joint venture with a contractor. Creative and open to problems if you use the wrong structure. Think out of the box or just drop the price to clear the asset off your books.

A guide vs. 12 guides, one per month is a different deal.

How well edited do you expect things to be? It could be a lot of work is this is a serious guide.

Who is the audience? What is the benefit to the folks contributing? Is the guide going to be something that could be sold or is it just a fun way to discuss topics in fine detail?

Be careful about this. You might save some money and waste more time so do fewer deals.

Or you will pick up one set of costs while reducing others. See the other replies for this.

Either figure out a way to do more profitable deals (maybe by buying properties that are not listed) or spread the costs over more deals. If you want to do more deals then figure out if the license is a plus or a minus.

Most investors do not have a license and an even higher percentage of all agents do not invest. A license is not really all that well connected to investing. Maybe a fine career path but maybe not the best path for your investing activities.

When Minna first discussed getting her license here on BP many of the same issues were raised. She has confirmed that the stuff she was warned about has taken place. Obviously there was a good reason for her to get her license but it was not just to be a better investor. Her frank posts should help make the pluses and minuses clear.

I might have started earlier than some others in this thread.

I have two children, both in university. I actually started my REI activities prior to having children. There are peaks and troughs to your time when dealing with growing children and REI.

Sum stumbles forward can be more profitable than others.

Welcome to the site.

I was at a meeting with a dot.com person who has made millions and then lost millions when the market fell apart. He was much more confident about moving forward as he had seen the bottom and realized that he as still alive, he still had his family, business is business and FUD is the real risk.

FUD - Fear, Uncertainty and Doubt.

Good luck and good hunting for those REI deals. :shoot:

Maria,

Thanks for the reply.

Definitely worth more than 2 cents.

:clap:

Some great advice.

Do update us as you start to turn things around. Clearly it can be done but it will take some new ideas and some concentrated effort.

Like him or not he has made an impression.

If what he wrote gets you started, great. Those who think his book is a waste of time are free to think so. Maybe they can write a better book or maybe it just does not matter that much.

The key to REI success is action. You might stumble forward or you might be a roaring success. Any forward progress is better than not getting on with it.

No one book is perfect for all people and in all situations.

RDPD made a difference and that is good enough for many.