All Forum Posts by: Jim Doine

Mike, would you please post one of your typical 40K deals with a net cash flow of $750 to $850 per mo. Where are these located? Jim

Welcome to BP Steven, looking forward to hearing more about your program in another forum. Keep us posted Jim

Wow Joshua, I'll bet that article boosts the membership. :woohoo:
Jim

Daryl, It looks like you've gotten a lot of great advice. Good luck, Jim

How can a basement have a drain? Water doesn't flow up. The only way I know of to drain water from a basement is with a sump pump. The drain your seeing must lead to a sump pump somewhere. If the power is off it won't work. Jim

Dwight, I answered your questions the best I could in the make deals forum. The moderators don't like you posting about the same thing in multiple forums. Jim

Darren, I feel for you. Don't give in to desperation and make some foolish decisions that you will regret later.
-Issue#1Your current home is seriously upside down. It will make a terrible rental if you try to hold it. You will lose money every month. When your wife looses her job you will have a hardship and the bank will consider a short sale. I feel this is your best option.
-Issue #2 After you sell your home I would seriously consider renting a home instead of buying. Generally, depending on area, you can rent for a much lower payment than it takes to buy the same quality home.
-Issue #3 Now is not a good time to buy a personal residence. With prices continuing to fall in California you would probably soon be upside down again.
-Issue #4 In looking at your purchase prices for your area it is not a good place to invest in rentals. 225K houses do not make good rentals unless they will rent for 4,500 a month. Jim

Hi Calixto, why the long silence, I wondered where you went. Jim

I forgot two great ones about getting in a little to deep with rehabs
-Mr Blandings Dream House
-The Money Pit

Jim