All Forum Posts by: Michael Bracken

Sounds like @Diane G. knows what she's talking about. From an outside prespective you would pay a lot of tax if you sold.

I run a business and lease space. I have thought about buying my own property. My thought however was, If I lost my business I would lose my day job income and my property anchor all at the same time. So I'm still renting the space and investing elsewhere.

I have met agents that are excited and motivated to work with investors. That are creative in there work flows. Just talk to agents until you find one with a like mind.

Its funny, in my experience the "Grandpa" real estate types that have been doing it for 40 years are well you know.....taking me for a ride! Bless there heart : )

Or you could get an option to buy it then bird dog it to another investor for a finders fee.

If your new to investing even an awesome deal can get ruined if your not knowledgeable. You need an experienced mentor fast. Connect with someone on BP in your area. Go to a local REI Group. Don't be to fast to get this deal. Some one famous one said. "The deal of the century comes along every week". In short, even if the deal is great, if your not greatly prepared; its not going be great for you.

That's interesting. I cant say I've ever thought about that. Glass is cool and can be engraved.

Don't be discouraged. You can start realestate investing when you purchase your first primary residence. You can move every year or so and build a portfolio with primary resadences. That's very simple. But first you need a job and to istablish credit. Working 12 hours a day would be good for you. Get 2 or 3 part time jobs. Learn to love work just for the sake of good work. Then you can love not working.

If its a primary residence and your not paying a mortgage then a HELOC. You can get back to not owing anything faster because its simple interest as opposed to amortize interest.

It would be a capitol loss. Kind of a weird scenario. Perhaps he paid too much for the property and It's only worth what he selling it for now?