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All Forum Posts by: Erik Jenkins

Erik Jenkins has started 1 posts and replied 9 times.

I am in need of 80K to close on property in 30 days, vacant land. Land is in New York. Have good credit, 2 previous lenders who will vouch for me and can buy but trying to avoid tax hit for selling liquid assets. Would prefer longer term loan 60 months or so but can do short term also ie 12-24 months. Thanks

Post: FHA Loan for First Time Multifamily Buyer

Erik JenkinsPosted
  • Posts 9
  • Votes 19

Move to a better market....

This would be a nice and encouraging story if it wasn't ultimately an advertisement for raising money. BP should not allow this (but it probably makes them money). But, hey if I was raising money, I'd do it too if they let me. This is not really a 100 doors in 100 days story. More like 100 doors in 3200 days with you stated 9 years experience in investing in real estate.

Since I know you probably like Grant Cardone, you should like this post because you want haters haha.

I am appreciative of your success so far but people with no experience should know there is more the story.

Sounds like something that would make sense for some. If you don't own much, they can't take much.

When the numbers make sense. 

Originally posted by @Brian Bradley:
@Erik Jenkins the idea is not to run or hide. What you are doing is taking away all economic drive to be able to get anything. If they or their lawyer want to spend all that money to get a settlement less then the money they spent, the suite is done. If judgments or settlements are less then the money they spent to get it, that business / firm is out of business. Law firms are business, especially plaintiff firms.

 Yes, exactly, hiding.

I'm with @Jerry W. You can run but you can't hide. 

Originally posted by @Tami R.:
Look the old cushion comment about roofing. We own large roofing company and the roofers are always stopping on the streets getting cushions from old couches.

I always have to remember this is a business. Run it like the executives would run Wal-Mart or Apple. Sometimes I feel sorry for someone like an old lady and think I wont charge her the pro rate of the 3 days or deposit, etc... but we (i) need to.

Also for the keys, we have over 200 doors I was tired of hundreds of keys so we have been slowly going to the keypad entries. My staff have a code, subs (plumbers, electricians) have a code and the tenant have their code for the property. I can easily change the code if needed takes 2 min and then we have 1 master key.

I have started the same but how do you get a master key?

Just started about 6 months ago at 37. Have a fourplex, closing on another fourplex in 4 weeks, and closing on an sfh in a few weeks.