All Forum Posts by: Timothy W.

That I did not know. So he sold his name attached to it as well?

You referring to Richard Davis? Always thought it was interesting when he said on one of the shows that real money is made in holding property, not flipping it.....

A buddy of mine and I were talking. You know what show I would love to see on TV? One on landlording in the style of American Chopper. A father/son investing company where they get pissed at tenants, get pissed at each other, yell and the dad gets mad and goes to talk to the dog. "He wastes my *bleep* time wanting me to go look at this *bleep* property for sale and he doesn't even get the *bleep* *bleep* property tax info right...." :lol:

Tim

It is still based on gross collected rents, but I saw this kind of service for vacation rentals in Florida go for 20% of collected rents. This included general small repairs less materials costs. I would specify that larger repairs are not included in mgmt. What will the local market bear? Here's a way to get it. Call the local property management companies and tell them you have a cottage you're considering using as a vacation rental and ask them when they will charge to manage it.

Tim

One piece of advice on John T Reed. His business model is to trash his competition while selling his own guru training. I have a hard time respecting people who pose as impartial "reviewers" while not disclosing their competitive business interest.

Tim

Hi Sue,
I would have to say my greatest frustration was that I deviated from my original strategy and got sucked into a local REIA where everything was based on chasing the fast buck. I had the greatest investor I knew personally at home, my own father, and ignored what he told me for 3 years while I ran around trying to make quick deals happen. It was 3 years of wheel spinning while he increased his portfolio by about 5 million dollars and another $30,000 in monthly rental income but it was my own fault. Lesson learned. I now do what he tells me to do and my success has slowly and steadily skyrocketed.

Tim

Hi Steph!
Welcome. Indiana investor here. Shoot me a pm once you hit 10 posts. We should talk.

Tim

If only I had started at 17......

It seems the Neverland Ranch is going to auction next month if MJ doesn't pay the bills on it: http://news.yahoo.com/s/ap/20080227/ap_en_mu/people_michael_jackson;_ylt=AndGVOWWeojdc37NXK0vgKDK.nQA

Someone want to go for the shortsale on this? At 24 million, I'm betting the banks would do it.

Tim

Don't worry Wheatie. I'm sure the super cheap CA taxes will counteract the negative cash flow. :wink:

Range vents aren't necessary with most homes.