All Forum Posts by: Tom Makinen

Nice work, I love it.  When I finally get a place in Quincy or Braintree nearby, can I hire you guys to help with the design.  

Were you not able to buy the 3rd unit out? The HOA seems like a lot!

@Megan Shay  Some of the more modern Tudor don't look quite as cool though.  Although some of the older ones, I can picture Dracula hanging upside down in it :)

You talk like as if the real estate market went on this crazy upswing between 18 and 19.  

@Lynne Garris  I have been spending a lot of time looking at houses I want to buy as investment.  Unfortunately most I found investment worthy usually look like crap.  Some look like refugee camps, some look like ghost houses and none have any charm in it.  A little charm like the funny looking Tudor in Milwaukee already made me laugh.   

@Geordy Rostad  Oh crap, you are killing me.  I am trying to make sound investments and now I am looking at upscale neighborhood in Seattle :)  

I shouldn't be looking at this.

https://www.zillow.com/homedetails/1851-Mcgilvra-Blvd-E-Seattle-WA-98112/48937134_zpid/

I should be looking at this

https://www.zillow.com/homedetails/3362-N-47th-St-Milwaukee-WI-53216/40439567_zpid/

Maybe it's because I grew up in the northeast and live in California, but I am in love with these Tudor style houses.  I better hope I don't see one in a location I want, I don't think I can control myself and will end up getting one.  Too bad Tudors are mostly in the suburbs or depressed market/state.  It's probably the biggest nono on this forum.  Falling in love with an investment property.

The cap rate will be in the low single digits, might be better than market.  Someone in another state is not going to care if this makes 2-4%

I have it, cost me $2k a year.  It has a 20k deductible or something crazy.  It’s probably pointless, but the temporary rental coverage would be helpful if the big one does hit and I need a place to stay while things are getting repaired

If you want to commit loan fraud, then yes you can do it.  

@Brian Eastman I saw half of our clients on self directed ira with property got audited.  Some made it through, some didn’t and they ended up with a nasty bill.  You can certainly do it, but you better not f it up.  

I still remember this guy in Vegas that had a 4plex.  He did several small repairs and improvements himself.  irs ended up disallowing it and he lost his ira and they made him pay 6 figures on it