All Forum Posts by: Alan Grobmeier

Investor in PHX. SFR in east valley, Ahwatukee, Chandler, Gilbert and E Mesa. Looking for deals, subject to, or owner financing/owner will carry.

Try Phoenix or Tucson.   I left the Socialist Republic in 2010.  Best thing I ever did.  I now have a number of well performing SFRs in Phoenix and California.   If you want more info, pm me.

AG

Fwiw:  At 23k you probably could have bought a seller-financed property, depending on the part of the world which you live.  It may or may not cash flow the way you want, but real estate is like watching grass (or your kids) grow.  One day you look up and say 'damn'.

My experience is that it seems everyone wants to go it alone and get rich quick.  Sometimes the best thing to do is partner with others that have more experience than you do.  The problem you will run into is greed.  It isn't 'sexy' to buy (or partner) on A or A- properties that return 4-6 percent plus appreciation when we all watch flip this house and other DIY shows where people seem to be getting rich.  After all, anyone can do that type of business model.  Right?  Well, not really.  One thing to always note:  if you buy real estate you are offering to pay more than anyone else has.  My reasoning:  if you were not the highest/best offer, someone else would have bought it.  ;-)

But I can tell you that in the downturns, many lost it all.  And, imho, we are headed for another downturn.

Best of luck.

AG

Krista:  There are a zillion ppl that will take your hard earned money to 'mentor you'.  I have a number of SFRs and I am looking for a mentor myself.  I've 'interviewed' a number of them, some even on BP.  I found that my needs do not equate with what is generally taught, which is either fix/flip or wholesaling.  I have gone to 'seminars' that have came thru town.  Most are basic (and free) while the next level is expensive and doesn't fit my needs.  You can learn the same things via BP and going to real estate meet ups.  And most of the meet ups on meetup.com are free!  ;-).  I noticed you are in the phx area, as am I.   If you want to talk more, let me know.  AG

I've done something a little different: tile planks that look like wood. They are pricey, but last almost forever. Since my places are long term holds, it works for me. Alan

I've been looking at joe crumps business model, but there isn't enough for me to make a decision. Plus it's pricey. If anyone has gone thru his training, I'd like to talk directly with you. Please email me or post here about your experiences. Thx Alan

Roll to a self directed Ira or a Roth ira

I have been contacted by Equity Build as well.  They are offering 18% to me on a property in Chicago.  I told them I was interested, but after doing some research, I have decided not go with them.  Despite my decision, they are attempting to 'hard sell' me.  Almost to the point of despairation. 

I read a lot of this, but there are a BUNCH of things I don't understand.

1.  How was the 'tenant' paying for water, power and sewer?  Living a property without water, power and sewer would be a little uncomfortable after a few days. 

2.  If these utilities were turned on in 'their' names, who pays for them?

3.  5+ YEARS of this BS?  I think I may have waited for them to leave the property and then torch or bulldoze the place.  ;-)  A lawsuit on the 'tenants' behalf' would have probably been less expensive and time consuming.

Glad it 'worked' out for you.  I am not sure I would have been so 'nice'.

Don't pay down the mortgage.  It wont help you unless you plan on refinancing.  Even then it MIGHT be throwing good money after bad.  IF you want to keep it, let the rents rise over time so it does cash flow and pay down the house for you.

My .02

AG