Because I'm a professional real estate investor, I am always asked questions about investing in real estate, financing for purchases and especially the state of the market today. More and more friends are getting into the "business" and some are making money (inspite of themselves) and some are not doing quite so well. My investment specialty is multi-family rental apartments, condominium conversions, office buildings and hotels.
I am not a real estate broker. I do not earn commissions of any type or nature.
I've been in the trenches of the real estate wars for about 36 years and I've been bloodied enough to have finally learned the rules and remember the lessons.
I have no hidden adgenda, but I would like to meet some warm, decent and friendly people, because I usually have to stay "away".
By the way, I'm not married and not in a relationship. I have no hidden adgenda.
If any of you are interested in my help with any real estate investing problem, or just want to say hello, you're welcome to stop by and ask a question or just a chat. Please, don't be uncomfortable about asking...My reputation is well known and unassailable. I'll get back to you as soon as possible. Gerry3525
With all this buying and investing going on does anyone need a hard money lender?
I am a realtor and have built my business training and working with investors (who now make more more than I do :) in TX, LA, AK, NM, AZ, CO.
This last year, I have put together a very extensive list of hard money lenders. There is a list of lenders in every state on that spreadsheet.
It has just been completed and already 510 copies have gone out. If you guys want a copy I will be happy to send you a copy - at a discount.
I know this site is not for "selling", but sorry I cannot give away almost 18 months of hard work and research :)
By the way, yes, I am single... and looking.... but for Mr. RIGHT!!
Hello ...... I would like to know if someone is interested in buying a house in Spain with wonderful sea and mountain views is a lot of tourism here ..... .... and maybe someone might know ... .. would be very grateful ... I can send you pictures?
Hello I'm Spanish .... You may be interested in buying a home in Spain? or know someone interested ?..... Can you help ?.... Ohh! is wonderful and has a beautiful sea views .... I hope your answer ... thanks
Well Bill ol friend, I just had to stop by and have some fun here on this post. I was talking to Gigi tonight and said to her I wanted to reverse mortgage myself. She asked me if I could do that, and I stated yes. She then stated that I had to be 65 years old to qualify as a senior citizen, I opened my wallet and showed her my AARP card and stated to her that this card guarantees I am a senior citizen, and I almost had her buying the farm with that. So I almost got away with it lol. I just wanted to share that little bit of trivia with you so you could have a good chuckle with me as well ol friend! Hope you are doing well. Talk to you soon. Stay healthy, dry, and warm!
BigBozMaam write: What are the pro's and cons of buying tax lien property? Can it be dealt with online, successfully?
The pros are you get a better return than on a MM secured by real estate and the possibility, although rare, of possibly acquiring property by foreclosing the tax lien.
The cons are there is a lot of DD to be done and it pays simple rather than compounded interest which will affect the yield. The way it usually works is the county will auction off the delinquent tax lien to the higher bidder in kind of a reverse auction. In AZ., the bidding starts at a 16% return but decreases as long as the bidders are willing to accept less and less of a return. The last one I went to the yields were about 5-6%, but that was a couple of years ago so they may be a bit higher now.
IMO, you would be better off attending the trustee sales and/or originating you own deeds of trust (mortgages with a non judicial foreclosure procedure.)
Originating DOT's is the best business/investment I have ever been in. Good luck and what ever you do. Make sure to do your own DUE DILIGENCE
I would bear you in mind I want to explore this possibilty with a lot of potential chaep land in a coastal town yet no one has seen that it could rake in a lot. I'm a novice in this but with a lot of ambition
thanks for being here.Only a few would offer to shrae their experience
I am new to realestate investments and have purchased my first investment property (house). This is an REO and it came with an extra building lot. As it is the lot is in demand right now. I have to do a lot of rebuilding on the house and that is a little intimidating, but I do have some friends to help me with it.
I have much experience with real estate as a salesman and broker and I have owned many properties myself over the years.
I purchased the Robert Allen "Enlightened Millionaire Institute" program about a year ago and have found parts of it helpful. I am not engaging most of it however.
I live near Olympia Washington and the real estate market is very hot over here so this investment is a pretty safe bet! Nice to see these postings!
My company isn't about real estate investment. However, it is in the real estate industry field. We are in the business of purchasing Owner Financed Mortgages and Privately Held Business Notes. We provide a lump sum of CASH NOW for the rights to receive future payments from these types of notes.
As you may know, many homes and businesses are sold with some form of seller financing. Our program allows these note holders (either current or future) to cash out all or part of their note.
We have found that many times a home or business will not sell because it is difficult for potential buyers to obtain financing, and at the same time a home or business owner will not finance because he wants all of his cash up front. Our program provides the owner the option of selling his note once the deal is completed. By offering Simultaneous Closing: we purchase a note at the same time as the home or business is sold (at the closing through the title company).
Please e-mail me today, if you'd be interested forming a mutually beneficial business relationship, or if you just have some questions or comments. I look forward to hearing from you soon.
I never had the reference books you speak about, but I'll be happy to critique specific properties and answer specific questions.In general, Real Estate is broken up into different specialities and each requires a separate and distinct knowledge. However, that said there are some standard rules to be followed.
(i) As always...Location, location, location
(ii) "Emotion" is a word that will only lead to distruction. Now that you're going into the professional investor part of the business, put it out of your langague.
(iii) Always analyze every property to determine cash flow as if free & clear.
(iV) Never use IIR (internal rates of return)to determine the validity of a transaction. This formula is to determine non-cash proceeds over an extended period of time. Completely useless for an individual investor.
(v) Don't let anyone convince you that an artifically low debt service has any value unless it it has a term of at least five years.
(v) Never sign mortgage note personally. Whatever the broker says...it's nonsense. This action can bring you down.
(vi) never use your properties to "cross-collateralize" a note.
(vii) never allow the words "time is of the essence" to be used to describe an action to be taken by you.
(viii) never allow the words "specific performance" to be used to describe an action you must perform
(vi) (vii) an (viii) are death sentences......
Start to ask questions and I'll try to broaden the answers.
I'm a real estate investor also, but I have yet to venture into the commercial side of the spectrum. Any advice for me on material or courses I should purchase. I understand the commercial side is quite different then the residential side of the business. I've only been investing in residental real estate for 9yrs, I've been quite successful buying and sell, but I'm ready for a change.