All Forum Posts by: DAVID GAGE

With corn prices being over $5 a bushel I don't see farm land prices coming down anytime soon. Farmers are doing very well for themselves right now. I live in cow country and all you have to do is watch the farmers after harvest season to know that their doing quite well. They've been spending money like mad. I have seen land prices almost double in 10 years. Its a good time to be a farmer.

I will share with family members and other Investors and thats it. Seems to drive a wedge between myself and friends so I stopped talking about my achievements with them even if they ask.

Great Topic!....I have nothing new to add but do use several of the same APPS. I do prefer Realtors.com the app over the website and find myself only checking it off my phone and not the computer anymore.....Hope you get some more posts I really love my smart phone and always looking for ways to make it better.

Nobodies mentioned having a supportive family and friends around you. I think you overcome a lot of the fears of failure if you have a good support system around you. Being surrounded by cynics will not help in the least.

Hi Everyone,

I need some advice from the experts in the creative financing area that can analyze this deal and can help me make a decision if I should go through with it...............
The house is a 3/2 on a crawlspace with a 2 and half car garage. Has newer siding,roof and carpet. Sits in a nice neighborhood in a small town of about 3000. I own 4 other houses in the same town. The house sold for $26,500 last fall and the owner put about $3k in upgrades. He is asking $50k with $4k down $500 a month at 6% for 6 yrs.. I've told the owner that $500 is to much and he seems to be receptive to offers. This house should rent in the $600 to $650 range. Taxes are $1800. Insurance around $700. Ultimately I would like to go zero down payment and $300 a month. I could use one of my houses as collateral. I am struggling with the fact that I would be paying 20k more than it sold for 6 months ago. Would you go ahead and buy it anyways knowing that it cost you no upfront money and it it broke even or had a small positive cashflow with the hope that it would appreciate in 6 years...What other terms would you guys and gals use to make this a deal that you would do......any help would be appreciated. Thank You.

This is an area that I've been investigating for a couple months. Its seems that in my location its really hard to find a seller financed home that is a good deal. With all the foreclosures its seems that i would have to pay at least 25% more for any properties I've looked at. Investors are snapping up foreclosures themselves doing a few minor fix ups and relisting them in a matter of weeks. You can"t blame them but I have yet to find one with good enough terms that it will cashflow positively. I might even consider paying the 25% as long as it has a good cashflow. I think this will even out when the economy comes back. IMO

I cashed out a pension last year and had a dozen nay sayyers tell me I was crazy. I have never second guessed my actions and would do it again if I could get my hands on my 401k. The home I bought was discounted 40 to 60% plus having control of your own interests is a bonus. I thought about the self directed IRA but chose to cashout instead.

I could not have wrote it any better. AGREED 100%

I have been buying as many of these deals as I can. My area is very similar to yours. Rents high, purchase prices low. I have 1 4/2 that doesn't seem to cashflow as well as my 3/1's or 2/1's. Plus it seems to be harder to rent because of how big it is. People seem to be scared of the heating bills in the winter. The other plus is less maintenance on smaller houses. I plan to only buy more 2's and 3's they seem to be where the moneys at in my area. I have a buy/hold strategy

I don't know if I'd put a sign in the yard but I would not have a problem listing it on CL or in the local newspaper with a date for availability. Probably not legal but I really don't think the police will spend they're time on a situation of this nature.