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All Forum Posts by: John Pestorich

John Pestorich has started 2 posts and replied 16 times.

Post: Your House - Investment or Doodad?

John PestorichPosted
  • Real Estate Broker
  • Fresno, CA
  • Posts 16
  • Votes 2

Mine grosses over $40k a year because it is planted to alfalfa. It is in the Williamson Act so the taxes are low, and provides excellent tax incentives. Not saying that I do, but how many people can write off dollar for dollar every gallon of fuel used during the year or dollar spent of automotive purchases and maintenence among other things. With out figuring in depreciation and tax incentives the true net income covers my yearly mortgage. Plus it allows me to live in the area I want plus live the lifestyle that I want. I also obtained a fixed LOC during the crazy time that I haven't dipped into yet, but will when I find the right investment. The cap rate isn't much, but at least it has one.

Post: Best REI book you personally have read.

John PestorichPosted
  • Real Estate Broker
  • Fresno, CA
  • Posts 16
  • Votes 2

I hate the antcipation of waiting for a new book to come in the mail and after reading through it realize it is just regurgitated material.
I love to read investing books and want to know which book was most informative, aspiring, or helped you in your REI career and why.

Post: how to deal with a broker who messed up a deal

John PestorichPosted
  • Real Estate Broker
  • Fresno, CA
  • Posts 16
  • Votes 2

Why did you let him disapear? In my experience, the squeaky wheel gets the oil when it comes to lenders.

Post: best approach for acquiring rentals

John PestorichPosted
  • Real Estate Broker
  • Fresno, CA
  • Posts 16
  • Votes 2

I like the way MikeOH thinks, and I would recomend the same. But before you plop into money markets and CD's, I would look at the interest on your loan on your home now. If the MM's and/or CD's are paying less than the interest on you current home loan, I personally would pay down the mortgage and set up a LOC. First I like to show a low debt to income ratio for financing. Second, I like the look on a seller's face when they ask how fast I can close and I answer, "For the right price I can close Friday."

Post: My Duplex Deal... Please Analyze

John PestorichPosted
  • Real Estate Broker
  • Fresno, CA
  • Posts 16
  • Votes 2

Unbelievable! No prices like that in my neck of the woods. Nice find, how did you find it?

Post: Hello, my name is...

John PestorichPosted
  • Real Estate Broker
  • Fresno, CA
  • Posts 16
  • Votes 2

John M. Pestorich, and I usually go by J.P. I have been lurking nonstop for a couple of days now and figured I better start up a profile. It appears to me there is a ton of knowledge and experience in here and it is interesting to read about the many different deals and situations from all over the country.
I got my R.E. license while finishing up college after my baseball scholarship ended. Right away I earned a big commision on a cattle ranch sale and have been at it ever since. I grew up in a small farming community (7 churches, 0 bars) just south of Fresno, CA. My family farms hay, cattle, and wine grapes and I grew up working odd jobs on neighboring ranches. The company I work under specializes in suburban residences, farms, and ranches. We also have a residential division and routinely handle small to medium commercial and industrial transactions.
As far as investing for myself, I purchased my first home at the age of 25 and sold it about a year later, my fiance thinks it weird that I never spent one night in the first home I owned. I then bought two houses on a lot in Fresno that I still have and rent out. After that came a home on 20 acres planted to alfalfa that I renovated and moved into, and I partnered on a commercial building with my broker, with a couple more in the works.

My interests include farming, cattle, horses, hunting, fishing, poker, and R.E. investing of course.

It is great to meet all of you and I can tell this is a classy site, glad I can be a part of it.