All Forum Posts by: Scott Mac

Hi Vicki,

You say you CARE about putting a roof over peoples heads.

We actually DO put roofs over peoples heads. About 50% of the population of America!

Caring vs Doing that's a huge difference. We make it actually happen for people.

The place you live in now will be updated to modern, and house somebody who either works hard for a living, or is paid for by the government.

You should do as others recommended and look to the government for housing assistance.

Moving is never fun, but I believe the singing group "The Smashing Pumpkins" said it best "The world is a vampire". 

(And I thought this thread was chumming the waters with shark bait, but it's actually not)

Good Luck...

Hi Scott,

I agree with Jay Hinrichs about buying into your own facility with a group of other dentists and establishing your practice for a while.

I've personally known (socially) many successful medical professionals  and many successful commercial owners over the years. Both are jobs that take time and emotional energy.

Beginning both at once, one you are trained in and one you're (learning on your own dime for better or worse) is a big bite.

If I were you, I'd buy into a facility with others as Jay recommended, which will add to your net worth and be likely to benefit you long term, and in the mean time stack up liquid cash, as much as you can, and study this business.

Or if you want, just go for it and move forward with ether multi-family or single family knowing it's not as time free or risk free as many make it seem. It is a business.

Because you already have a good thing going though, I still agree with Jay as to step one. With step 2 being more education on multi-family ownership, and hang around in here. You can learn a lot in here.

Regards,

Scott...

Hi Brain,

Good clear explanation of this!

I think the point you made about "The overall return of a leveraged investment should out-perform a similar all cash investment made with an IRA." is a key here, as well as where the tax payment money comes from.

and I second Oleg's, request for a $100k example. 

Thanks,

Scott...

Hi Justin,

It's not optimal, and depending on the demand for 3/1's it might effect the rent you can charge for it, and vacancy rate.

You noticed it, others will probably notice it too. Will it be a deal breaker to someone else? Probably for some.

Scott...

Hi Zach,

If it were me, I'd dump it and take the profit.

Good Luck!

Hi William,

This property sure has a lot of potential.

I was wondering though, what "amenities" you guys have planed for this class B asset?

Scott...

Hi Francis,

So the housing Department doesn't pay enough to house people? Probably not true.

I would assume there is "housing" in Santa Ana, or Anaheim as an "Apartment" vs a SFH, possibly even Garden Grove.

She should discuss this with the "Housing Department", perhaps they could give her some addresses that are not in bad areas.

If she has a "Case Worker" type person to assist her, maybe she could talk to them.

Or maybe she just has no money (or strength) to move her belongings and is stalling for that reason.

Good Luck!

Hi Shiloh,

What you're saying reminds me of the old (1947) movie "Life with Father".

No matter what the poor guy does, he can't keep his monthly budget under control.

Pug Dogs and Rubber Tree Plants, etc...

Scott...

Hi Harry,

Well I went to dinner (McDonalds) and thought about this some more.
It's in your neighborhood and at first glance you're interested in it. 

It will ultimately come down to a couple of factors, will the owner accept your offer based on the numbers you need. Cash on Cash, etc... and can you get the deal together (down, financing, closing costs, etc..) to buy it.

Don't buy on emotion, buy on the numbers you want to get.

If the Seller agrees to your numbers, it's best to go through it with a commercial multi-family property inspector. Know its flaws from a disinterested 3rd party.

Now if the seller doesn't like your offer, but you like the property because it's in your neighborhood and for whatever reason you want to own it--keep it on your key ring so to speak. 

Meaning, keep an eye on it over the years. The economy fluxuates and so does net income/price, and there may be some time in the future that this key ring property could be yours.

Just some more of my thoughts.

Good Luck!

Hi Omar,

Great property, and good hustle to get the money!

I have a question though.

How long did it take you to walk 138 units?

Scott...