All Forum Posts by: Loc R.

Mike,

Andres Mendoza is a good friend and a landlord-oriented attorney.

818-439-2598

I think you have to find the "angle" that works for her.

My wife doesn't care for the landlording stuff, so that's all on me. She likes looking at the numbers, so I show her how the numbers stack up on my note deals.

My friend who flips houses lets his fiancee do the home-staging and chimes in on color schemes.

Diana,

With regards to finding seller financing - if you don't ask, the answer is automatically "no". ASK!

With respect to private funding - if the deal is a homerun, people WANT to lend you money. They NEED to lend you money. Their money is either in stock market purgatory or sitting at the bank losing to inflation.

Jon, let me translate for you:

"100% cash" or "all cash" means it is all YOUR money, and has been sitting in one of your accounts for 3 months.

Steve,

The term is "frugal" - and there's nothing wrong with that.

Frugal = higher chance that you have something of a net worth.

My initial thought is that the person whose name was on the deposit check is the one who gets the deposit back - send that person the check and let them figure it out. However, that could come across as careless.

How about sending a group e-mail to the two asking them to clarify? They should be able to determine between the two whether those funds were co-mingled or really did belong to just the one person.

Rob,

I think everyone who is trying to help you here could help you more if you gave us the real picture...

1. What are the terms of your current mortgage?
2. What is your house really worth?

Shari,

You can't think of it as a "trailer" home...just think of it as a widget, a widget that will return you an easy 10+%.

In a lot of cases the investor continues to put away $X per month (the same amount he was putting away before he bought the building). Let's say $1000. So now he's able to grow his "apartment buying fund" by $1450 ($1000 + $450) per month. After 3 years he has $42,200, which can be enough of a down payment if the seller is willing to carry the rest of the financing.

I am not heavily involved in that aspect of real estate, but I will chime in with my 2 cents.

I am very bearish on commercial office, as it is my opinion that the internet is going to continue to eat away at commercial office space.

I think supermarket-anchored community centers, medical, and restaurant (the type that Realty Income invests in - with fast food tenants) are the commercial properties that make sense to me.