All Forum Posts by: Charles Morgan

Welcome to the forum. I am also hoping to learn more about commercial investing.

We didn't see much of a housing crash here in El Paso, prices have been pretty stable. Rentals close to Fort Bliss are going crazy! The base is expanding like mad and we have contractors and Military all over the place. I think you could rent out a cardboard box in an alley right now. Studio and one bedroom apartments are in the $800 range. New homes are $90-175K depending on area and size, of course luxury housing is much more. My 4 bed 1600sq/ft should rent around around $1,000-1,200 once I get my family out of it.

Is it just me or does this look like an MLM?
!Recruit lower level level guys to bring up your pay!

KBFG Compensation Plan?
Short Sale Consultant

Junior Short Sale Consultant
Brand New Consultants
30% Commission upon closing of personally referred deals
10% override upon closing of Personal Recruits referred deals

Senior Short Sale Consultant
Upon Recruiting 10 New Consultants and closing of 1 personal deal
40% Commission upon closing of personally referred deals
15% override upon closing of Personal Recruits referred deals

Manager Level Short Sale Consultant
Upon Recruiting 10 New Consultants and closing of 3 personal deals
50% commission upon closing of personally referred deals
20% override upon closing of Personal Recruits referred deals?


Commercial Consultant

Junior Commercial Consultant
Brand New Consultants
30% Commission upon closing of personally referred deals

Senior Commercial Consultant
Upon Recruiting 10 New Consultants and closing of 1 personal deal
40% Commission upon closing of personally referred deals
10% override upon closing of Personal Recruits referred deals

Manager Level Commercial Consultant
Upon Recruiting 20 New Consultants and closing of 3 personal deals
50% commission upon closing of personally referred deals
15% override upon closing of Personal Recruits referred deals?

I've already made a few posts on here so I guess it's time to introduce myself. Almost 60, just started investing in 2006 when I re-fi'ed my first home. Used the cash to buy another home, an RV (bad choice), and down-payment on third home(another bad choice-my own fault). This year purchased my fourth home with hard money. The second home was a dump, couldn't even buy it as a home because it was a converted trailer. The third home was a bad choice only because it needed more repair etc. than I anticipated. To sum it up, I'm doing ok, but not as good as I could have mostly because of the older number three home.

My 2c. I just purchased a home with a hard money loan. $40,000 home, about $5,000 total fees, 14% interest, balloon in 7 years. West Texas. Did it because I needed to close quickly or lose it, they were ready in 4 days. Working on a re-fi now.

No state tax refund to get in Texas. I hope I never have to go through that.

Nice, I see you guys in Az are raising the bar! Here in El Paso it's kind of lonely, we're not really considered part of Texas but no-one else wants us, Lol. I'm actually closer to Tempe than almost anywhere else in Texas. I may try to drop by Saturday if I can get out of another obligation.

Whew! That last one is 200k? Someday maybe I'll get to that point. All 4 of my houses together are about 220K.

We started out with our first house being a home. I would not do it again knowing what I have learned. You have a great situation with your rental being so cheap. I was discussing this same topic with a friend who is living at his parents, perfect opportunity to invest!

Wow! That would have been a job. I just bought a two story in El Paso that needed a LOT less work and it's taken me almost two months to do just a gas line and electrical! Close to $3,000 for Gas line and electrical. At 2800sq/ft it's going to be another $12,000 just for the roof, altough I'm considering Solar PV, that would be $27,000 after rebates from the electric company.