All Forum Posts by: Wade Sikkink

Goals are fine, but don't over do it. I've never set a real estate "goal" and I now own a 14 unit apartment building. @Paul Wurster is right on the money. You have to do something. If you have a basic plan, then go out and buy something. You can only learn so much from reading. You need to get in the game to really start learning.

Good luck!

We recently raised the rents on about 10 tenants and we hand delivered the notices.

I don't think there is any issue with what you are planning. I know that in the agriculture industry that dealers that sell equipment are also often insurance agents that sell the farmers insurance on that same equipment. That's a very common practice.

Buy a duplex, live in one side and rent out the other. After a year or two, move out and rent your previous residence, buy another duplex and do the same thing. Rinse and repeat.

Good luck!

Loans originated by Countrywide were never held by Countrywide. They were sold to various companies to be packaged into mortgage backed securities, which were in turn carved up into other securities.

Some of the loans have been carved and sold multiple times and because of the poor record keeping leading up to the financial crisis, often it's hard to prove who owns the loan.

Good luck.

Here in SE Nebraska demand is great. We have a waiting list and just raised everyone's rent almost 20% (granted, the previous owner had not raised rents in a long time). Even with that jump, we are on the low end of the market. Wish I had some dry powder to buy some more doors...

We have a pro coming out tomorrow to seal everything and install the one way door that lets them get out but not back in. Expensive, but then the problem will be taken care of correctly. I'm generally a fan of doing things right the first time.

Nate, you can probably structure the deal several ways. I'm actually starting to think about selling my ecommerce company and inventory is something I'm putting some thought into. Here's my current thinking. Offer the business as $XXX plus inventory and cash where the XXX is some multiple of earnings. If the inventory and cash levels are a meaningful percentage of the value it may make sense to separate them in the discussion. If you are asking $3M for the business and only have $50k of inventory on hand, then it probably doesn't make sense to separate it in the negotiation.

Also, since you are selling to your partner, it may make a difference to him if he is going out of pocket to buy you out or if the business entity is buying and retiring your shares.

It would seem to me that the cost of procuring inventory probably doesn't come into play. That's just an ongoing operating expense for the business after you are gone.

Interesting topic. Keep us posted on how it goes.

Yep, @Dawn Anastasi is right. Never take a listing down or tell others it's taken until money is in hand. In fact, you could leverage their interest to get others to move if they like the place and think there is another interested renter about to move.

All real estate is local, so it depends on your market and your goals. Remember that real estate makes you money in three ways. Cash flow, appreciation and mortgage pay down. SF and MF will potentially perform differently in these three areas, so it depends on your plan.

For example, a MF might cash flow better, but won't appreciate as fast and can't be exited as easily, so therefore is maybe a better choice for a long term buy and hold. If you want to be in and out of the property in a few years, then a SF might be a better choice.

Good luck.