All Forum Posts by: Tommy Ray

Yes.  Why?  The highest and best use of the property may not be what others are seeing.  So my offer will be based on that.  Many agents do not understand what could be done with a parcel or a building.  Outside of the box thinking is required to develop derivative business models.

The government is inefficient.  They can not touch something without committing fraud, waste, abuse and all other forms of mismanagement.  The government to date has been the biggest problem in curbing initiative as well as innovation.

People who look to the government for answers should know better.  The more Uncle Sam is enabled the less we the people are "disabled" in our liberties and self determination.  

Free Floating Capitalism to date has been the best system within the few hundred years.  The technologies, and innovations w/I those context have changed the world.  Take a moment and look where all those Nobel prizes within the sciences and math occur.  

Minimum wage jobs is were people start.  We as a nation need to normalize the expectation that 40 hours is not a work week but that working 12 hours a day is working a "half day".  There should be a societal expectation of working and developing concurrently at all times in all things.  I do not relate well to weak minded, lazy, non-adaptive types as change is ever present and ever accelerating at each of us.

Minimize the role of the government.  Maximize your skepticism of media outlets.  Maximize your civic engagement as well as history awareness.  History repeats itself...   
 

Supply / demand playing out in full effect.  Great time to be a buy and hold investor!  32 years as one and I am doubly happy...  Net worth soared 2 mill in past 15 months because of the dynamic you just described...  If any of you are in Central Texas give me a holla would love to network and build kick *** teams to grow together...

@ Jacqueline Romero --not a problem.. Love to help people..  

@Account Closed whew sir--you nailed it.  The battle someone will have with ones self is the toughest battle of all....  Removing self limiting thought is a lifetime struggle.  Parents are soooooo crucial in that.  In the absence of solid parental examples the young person needs to locate MENTORS to fill the gap and sponge all the knowledge, skills, attitude and perspective as they can absorb...  I served for 2 years at the 19th ASOS on Fort Campbell, KY with a guy named David Goggins--google him...  Navy SEAL, Joe Rogan favorite interview, best selling author,...  No self limiting thought there...  Just the endless Jihad against ones self and ones desire to be comfortable and passive.  At the same time...  I served with another guy who has amassed a fortune over 100,000,000 now...  All 3 of us were enlisted.  David is Black, I am white, and Leo is hispanic...  No reasons to fail...  Just excuses in my opinion as hope is free and not paying attention is expensive.  We can all "afford" to "pay" attention.

@Lisa Ginter I really like that "be your authentic self"

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $365,000
Cash invested: $115,000

MLS deal that I bought on Day 1 and went heavy with cash. Asking price was $375 and they accepted a $365 cash offer. The property consists of 4 lots w/dual road frontage for a total of 2.12 acres. The old owner had 6 tenants that were friends or family and had not kept up with prevailing rental rates.

What made you interested in investing in this type of deal?

Growth in the area is through the roof.... Bought 1581 Parkview, Canyon Lake TX for 130,000 7 months ago... Comps out at 179,000 now. That is HUGE. Overflow demand in Austin, New Braunfels, San Antonio and San Marcos. There are comps on the the land a few miles down the road at over 600K for the raw land.

How did you find this deal and how did you negotiate it?

Found on MLS and offered cash to a weary seller who had a trash covered pig...

How did you finance this deal?

Cash deal--will cash extract using a local bank or credit union after we got the leases and cash flows in place and stable for them to see.

How did you add value to the deal?

Clean it up, de-populate it for a total reset. Will add storage for additional rent to the offering. We will add superior marketing and management as well ....

What was the outcome?

Nice asset in the balance sheet

Lessons learned? Challenges?

Contractors are always problematic... Nothing new there

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes but I have 32 years at this and I cherry pick my A-team on anything new / evolutionary

@Geoff Salfi. GROW THE SPHERE OF INFLUENCE as well as your methods to finding those derivative deals....

@Andy V.

I concur.  One of the things I am looking at is undeveloped lots downtown to place container homes on.  Based on the neighborhood we would have option for owner financed sales, long term rental, and well as long term case study for the training and education aspects for what we do....

The other part of it that I like is that the 2d floor training area lends itself to a zoom teleconference as well as in person training dynamic....  Facilitiates so much of training host, subleasors, and anyone that the marketing is meant to attract into the learning center / co-working space.  Huge win for Title Companies to approach the whole commercial building as a collective for the drop off marketing, as well as training events too....