All Forum Posts by: Rob Golob
Rob Golob has started 15 posts and replied 80 times.
Post: Too Far Gone? I was offered this GEM for $500

- Investor
- Valparaiso, IN
- Posts 84
- Votes 47
What are the taxes and what is the cost to demolish and clear?
MAY be worth it to take a long term flyer and see what the property may be worth 5,10,15 yrs from now....
ps - No, I'm not interested.
Post: Made $16k in my first Wholesale Deal

- Investor
- Valparaiso, IN
- Posts 84
- Votes 47
Originally posted by @Dallas Trufyn:
When I had my bookstore and I sold books at retail, even though I paid wholesale price to buy them. This wasn't disclosed to every customer that walked through the door. I must have done something wrong?
Not at all.
However let's say you had a antique bookstore and I brought in my "whatever" and you said it was worth about $50 so you paid me $35. Then you laughed as you called the collector to whom you would sell it for $16,000. Did you do something wrong now?
I believe there is legal precedence to say you have.
Post: 101 financial mortgage paydown

- Investor
- Valparaiso, IN
- Posts 84
- Votes 47
In 2008 looked at a 2004 loaded Impala for my wife. It was just traded in at 113K miles and they wanted $7900. I said no thanks.
2 months later the salesman called me and said car was headed to auction and asked if I was interested. Would sell for $5500. I took it.
Today it has 298K and is running strong. My wife is an executive and still drives it in "business" situations.
Unfortunately, I told her maybe we would move up when it hits 300K......
Post: One man's trash is my treasure!

- Investor
- Valparaiso, IN
- Posts 84
- Votes 47
Awesome thread and transformation!
I am far from a seasoned pro in Real Estate. However, I don't understand the rental strategy. You are making a very small return - Unless, of course I am missing something and I can surely be educated.....
Your gross income is $8,400 / year. (Incorrectly) assuming ZERO taxes and ZERO insurance and ZERO repairs and ZERO capital repairs, your BEST CASE return on capital is 6%.
This is given your stated $145-155K value. Let's say you can clear $140,000 cash. Excepting for 1031 or however you choose to reinvest the $140K, that is 8400/140000 = 6%.
Again, this is just hot I see it, anyone please feel free to "wake me up."
Post: Cabinet fell on tenant, now want me to pay for doctor - help!

- Investor
- Valparaiso, IN
- Posts 84
- Votes 47
Post: Should I listen to Dave Ramsey?

- Investor
- Valparaiso, IN
- Posts 84
- Votes 47
If one were to follow Dave to the T, one would most definitely become financially independent - a millionaire at least. And one would never "lose everything."
However, of course, is the time and price to get there. Each person has to decide.....
Originally posted by @George P.:
Originally posted by @Rob Golob:
Originally posted by @George P.:
i just did a loan model this am. i can take up to 50k at 3.25% interest. i picked 5 yr term.
depending on the deals i have lined up and which one happens, i will take that loan. it's amazing rate anyway and i am paying it back to myself. it's a win-win!!
Sounds good on the surface.
Suppose you had taken this loan out on election day. You would be borrowing at 3.5% to give up annualized return of 56%. (Assuming you are "in the market" with 401k.)
Not so win win......
Imagine I did that 3 yrs or so ago and the house doubled in value, so I made 100 percent profit. With the profits I bought 3 other houses that also increased in value if not doubled. That actually happened.
So you can keep that 56 percent that might have not ever happened.
I fully agree and understand. Just pointing out that there is more to the "cost" of the money than the simple 3.5% paid. The market could surely crash as well....
Originally posted by @Marshall Martinez:
Originally posted by @Rob Golob:
Originally posted by @George P.:
i just did a loan model this am. i can take up to 50k at 3.25% interest. i picked 5 yr term.
depending on the deals i have lined up and which one happens, i will take that loan. it's amazing rate anyway and i am paying it back to myself. it's a win-win!!
Sounds good on the surface.
Suppose you had taken this loan out on election day. You would be borrowing at 3.5% to give up annualized return of 56%. (Assuming you are "in the market" with 401k.)
Not so win win......
Where are you finding a 56% annualized return in the market?
The specific period from the past Presidential election through today.
Was a "for instance."
Originally posted by @George P.:
i just did a loan model this am. i can take up to 50k at 3.25% interest. i picked 5 yr term.
depending on the deals i have lined up and which one happens, i will take that loan. it's amazing rate anyway and i am paying it back to myself. it's a win-win!!
Sounds good on the surface.
Suppose you had taken this loan out on election day. You would be borrowing at 3.5% to give up annualized return of 56%. (Assuming you are "in the market" with 401k.)
Not so win win......
Post: How to avoid Capital gains tax?

- Investor
- Valparaiso, IN
- Posts 84
- Votes 47
@Eric DeVito, by your numbers (buy 255K, invest 30K, sell 499K) you nominally have $214K equity, not $60K. Obviously, that assumes near 100% financing at purchase price.