All Forum Posts by: Chris McDaniel

If you had $100,000 in your bank account right now, what would you do with it? What kind of real estate would you pursue? Or would you just do the smart thing and forget all that REI craziness and do the smart thing, prepare for the zombie apocalypse?

Joe Pickett nice work. I have came across several opportunities where this would have worked out well, but I didn't know how to structure the deal. Do you escrow for taxes and insurance? I'm assuming since you are the 1st position lean holder you would want to make sure the house is insured or not going to be foreclosed on for unpaid taxes? How does that work in a situation like this. Thanks!

William Sackett sounds like a great book, would you mind sharing the name of the book and its author?

@Charles Nguyen I totally missed it. Is this something that is done on a routine basis? I would love to attend the next one!

Any updates to anyone's foundation work? I am considering the same thing, do it now or later?

@David Roberts  You're right, but i was just thinking of my ability to provide for my family. If I'm all leveraged up and say ExxonMobil reports that abiotic oil is real and the price of oil drops to .25¢ a barrel and most of my tenants get laid off (I'm in the Houston market), then my ability to provide for my family comes crashing down. If, on the other hand, I have houses that are paid for, i think weathering the storm would be much easier, my rents could easily be readjusted to $150/month if need be. I don't know what the right answer is?

@Jay Hinrichs  Yes the 458 Italia is a Ferrari.

http://auto.ferrari.com/en_EN/sports-cars-models/car-range/458-italia/

Ok, so here is the question. How much do you leverage your portfolio? I have friends that are all over the map, I suppose it’s one of those “whatever is right for you” scenarios? I have some investor friends that are in the Dave Ramsey 100% down payment camp, then I have others that are throwing caution to the wind and grabbing up whatever they can, no matter what the cost. So I’m wondering is there a happy medium? How to the big players do it?

@Jay Hinrichs  oops my mistake, its a 458. Now you see why i drive a Camry!

I'm rolling the 2001 Camry with 225k miles, my wife motivates down the road in the 05 Burban and I have an 01 Silverado for shimming around taking care of rentals. 

Now I have 2 investor buddies, one with a Benz E350 and one with a 528 Italia, let me tell you, there's nothing like driving that Italia through the McDonald's drive through and watching people stare! How much passive income do I need to get me a 528 Italia?!