All Forum Posts by: Justin B.

I coach all my clients to set up a buy-sell agreement that covers death, disability, retirement, voluntary sale, and divorce. I also coach clients to insure their relationship and it doesnt hurt to buy key man insurance that acts as insurance, an asset, and a banking source for future deals.

For the new year I would like to buy 3 more duplexes (40k each) that cashflow 650 a month, and add atleast one new duplex each year, while simultaneously expanding my insurance business 2-4 employees.

I endorse bitcoin, and competing currencies in general. I own three precious metals; gold, silver, and lead;-)

I think when you have the FED printing like Weimar making us the next banana republic, then its hard to pinpoint when the tip-over will happen, but common sense dictates that you can't print and hide the 300+ trillion in derivatives debt. This is the time bomb that will implode the system leading to either an Amero currency (think Trans Pacific Partnership) or the Bancor (one world currency ssdrs)

It's painfully obvious that real estate valuations are once again at asset-bubble extremes.

Correspondent Mark G. submitted a chart of the Wilshire REIT (real estate investment trusts) index that sums up the current real estate market in one image: it's painfully obvious that real estate valuations are once again at asset-bubble extremes, one that's even bigger than the last RE bubble that popped in 2008 with devastating consequences to the global economy.

http://www.zerohedge.com/news/2013-10-30/what-real-estate-bubble-oh-you-mean-one-thats-bigger-2007-bubble

This is important for the housing market, because mortgage rates tend to follow the yield on 10 year U.S. Treasuries. And if mortgage rates keep rising like this, another great real estate crash is inevitable.

This wasn't supposed to happen. Federal Reserve Chairman Ben Bernanke said that he could use quantitative easing to control long-term interest rates. He assured us that he could force mortgage rates down for an extended period of time and that this would lead to a housing recovery.

But now the Fed is losing control of long-term interest rates. If this continues, either the Federal Reserve will have to substantially increase the rate of quantitative easing or else watch mortgage rates rise to absolutely crippling levels.

But of much greater importance to most Americans is what is happening to mortgage rates. As mortgage rates rise, it becomes much more difficult to sell a house and much more expensive to buy a house.

According to CNBC, there is an increasing amount of concern that the rise in mortgage rates that we are witnessing could throw the real estate market into absolute turmoil...

Hoods dont phase me, I own a duplex down the street where a gentleman gunned down a teenage mom-cashier with an AK47 some years back in Elyria, and I use to live in low income neighborhoods when I used to be bailbondsman.

I like the cashflow, I wrestle with the exit strategy 5-25 years from now, will they be worthless? It would bug the **** outa me to replace a roof 10k on a 25-45k property...

I just got done reading two rehab and flipping books, the one is J Scott's and the other is called FLIP. BOTH have great processes for rehabing, all tye stages, prerequisites etc. If you buy J's book (found on BP) he throws in his other book, estimating rehab costs which I have already started. Very informative...

Thanks for chiming in Jon! I figured as much, just want to leverage my dollar wisely. What do you think is a minimum dp for seller finacing? I saw Ben Leybovich or was it Brandon Turner that said never put more than 5k.

Does anyone buy seller-financed multifamily properties with private or hard money down?

I dont want to blow my wad(150k+), in fact prefer to use opm if I can to purchase as many rentals as possible. How would a deal like that look as far as terms, rates etc?

Any resources on this, not looking for a guru training program, just;

How to structure such a deal so everything cash flows properly.

Also whats a respectable per door profit? Is it possible to cashflow a property supporting the dp and the sellers note and still have profit for yourself?

Whats an appropriate interest rate for hm or pm?

How bout down payment amount?

Or length of loan, or market value?

I am finding a ton of duplexes 17-50k that rent for 550-650 a month...

Thank you BP

I agree and think its unsustainable, here is a thread I created today to talk about the surplus REO rentals https://www.biggerpockets.com/forums/16/topics/109878

Just got an email that the two largest giants of outsourcing will be merging together.

I think there's better quality foreigners on Odesk and better American quality workers on Elance.
Hope the technology sees a huge boost!