All Forum Posts by: Greg Meech

OK I'm in- I'm there. The day job shouldn't interfere this time. Oh wait what day job.

OK this time I am going. Unless that day job makes me go out of town again. Gosh having a job is so inconvenient. Takes up way too much time.

But I'm there for real. I hope!

Always a good time with Charles. I'm there!

I'm In. Unless that pesky day job makes me go out of town.

Wow you have a big hurdle to overcome. New to investing, new to an area. Still doable but a lot to do.

Your best deal would be to find someone to partner with in that area who has done it before. Bring something of value to the table and trade for their expertise, but be carful to get it all in writing and choose the right group.

A place to start anyway.

I would say any state that has high demand and low supply of places to live. Sounds simple but that's a good place to start. Then there are tenant friendly states like Texas which add a bonus. I would say places where the economy and the state is growing would be another good place. Places that have no more room to build new construction and have an increasing demand would be good.

It's hard to narrow it down to the whole state. Maybe you should start with Cities.

@Dan Shoemaker

***There's a reason us investors mail to absentee owners to acquire properties ;-) ***

Very well said. Wow that proves a lot. Not that it can't be done, but yes head aches are much worse from a distant because you have to rely on others for everything.

I have found a few websites, but I don't freaking have a clue what it means.

It has color here and shading there. Floodway VS 100y flood Vs 500y floodplain costal... What does it all mean?

I gave up and talked to my insurance agent about what I need. Now I just email her the potential address I'm considering buying and she normally responds in an hour or so that it is or isn't in a flood plain. Or more importantly what will my insurance cost me?

Life saver and I can do less work and get an opinion on should I buy.

Yes I pretty much feel the same way, that there must be something more than the money. But I'm conflicted!

So my real question is, at what return on investment would you just invest your money into a secured real estate deal by being a private lender.

Being a landlord can be a real pain in the A$$ and it has a lot of risk, a lot of frustrations and a lot of work. But I am making money. Some houses as much as 15% return on my initial capital. WOW that blows the stock market out of the water. But the returns aren't consistent as you know and a bad year of repairs or turnovers or evictions could bring it down to 1-2% return. Ok I get it, it's the risk of the business and overall I am making some great returns.

But if I could make a 6% 8% 10% 12% (what's your number?) guaranteed return to do nothing but let my money work for me. OK sure nothing is absolutely guaranteed, but assuming you have a 1st lien secured property with title insurance and with a certified true appraisal at 75% of the value. What's the risk? I get paid or I get a property worth much more than I paid for it. In Texas we are a non-judicial foreclosure state so it's pretty easy to get the property back and reasonably quick.

So what's your number? What return on investment would you take in exchange for minimal risk, almost no work, and the (TTT) Tenants, Trash, and Toilets, not your problem? What number would make you give up your real estate and become a private lender?

Or is it not about the money?

Get question. Add me to this thread.