All Forum Posts by: Chris F.

Hi Christine,

I'm also in OC looking to do wholesaling and and buy and holds. Let's see if we can help each other out!

thanks for the tip. I'll keep that in mind

first, I'm not bringing up an in depth 50% rule debate. Some here belief in 40%, but my question is more for how you handle your money set aside for the maintenance, taxes,and repairs portion.
I'll assume that you would set aside 50% each month in a general fund.

So let's say your averages run below 50,40 or whater %. As your fund grows, at some point do you make a determination that you have enough set aside to cover any foreseeble expenses, and take the excess off of the top as income for yourself or to reinvest in other properties? Is there a hard and fast rule, or is it just best judgement? Or do you just keep that fund growing indefinitely?

Crud! can't edit the subject either :( ruh roh shaggy =(

Mod please correct the title?

Anyone dealing in Detroit? How's the market? specifically how are vacancy rates? Is it at a level that still makes sense?

Yes I know anyone with a few bucks can buy an a block or two of houses, but can you rent them, is the question?

And on the note of know your area, how's detroit faring lately? k

Can you find deals if you look hard enough? Yes. They won't near the coast. They will be in poor nieighborhoods.. I don't mean "middle class neighborhoods" either.

That aside, if you're willing to eat a monthy negative cash flow (when taking all expenses into accout per 2/50%), and you are confident in a long position (very long). Then it's feasible.

I hear GM stock's pretty cheap.. you should buy that too (little stock humor..cough)

Think Vegas (maybe) or pretty much anywhere you can buy a house for under $100K, such as the midwest.

Send me $999.95 and I'll tell you exactly how much

I like the dinner and card idea. Don't insult him with money. Or how about just "thanks!" Dad's "payment is time with you =)

I say this as a dad, and it's what most dad's would want, I think.

Of course I can't speak for every dad- only you can say for sure.

just my 2 cents...

I'm curious as well how lenders view these types of loans. Seeing as how leveraging is the key, and 30K split 5 ways will give you more than 1 30K cash deal, it makes sense to finance when you can right?