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All Forum Posts by: Account Closed

Account Closed has started 5 posts and replied 571 times.

Post: Am I forgetting something? Idea seems fail proof.

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

You need to spend about a month reading this forum and get back to us then. Your question has left me speechless.

Post: How do you hold & protect physical gold?

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

In a SHTF scenario, gold is worthless. Firearms, ammo, drugs and alcohol will be the units of trade.

Post: Committing Mortgage Fraud via Househacking Strategy

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

Shawn, also make sure all of your mattresses still have the tags attached. Never tell people more than they must know. You are fine.

Post: My plan to become a Real Estate Developer - what's your take?

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

Marry a rich man's daughter. Seriously, the most important aspect will be access to millions in capital. Your ability to successfully interact with those that can bankroll your projects is the key.

Post: How to you look at a deal with no sale price?

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

You can roughly determine retail price by multiplying gross rent by a particular number of months. You determine this number by taking the sales price and diving by the monthly rent. This is called the income approach to appraisal.

Post: First Time Hard Money Deal

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

Are you asking how much in cash reserves you need?

Post: WHAT AM I REALLY BUYING? I NEED YOUR ADVICE!

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

In order for the building to revert back to the duplex, wouldn't the county need some type of proof that it had been vacant for two years? You need to approach this deal like it is a foreclosure. What ever info you get you have to get on your own. Actually, this should always be your approach when buying because you cannot guarantee seller provided info to be accurate. When it comes to MY money, I never rely on anything that I didn't discover.

Post: Cost for help to move tons of dirt / gravel

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

HIRE HIM NOW BEFORE HE CHANGES HIS MIND!

Post: County assessed value vs. asking price

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

Tax appraisals have nothing to do with the market value of a property. 

Post: Maine Plumbing HELP!

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

How would you get caught if you didn't get a permit?