All Forum Posts by: H. Jack Miller

 I am not sure we are seeing prices around $500.00, but a lot of it is location specific.

Chris a quick story. That says it all. First, I am not selling anything. Most people who say they are real estate experts, have not survived challenging times. The last 10 years or so has made everyone a hero. Most have not survived the global melt down of 2008-2011. I have and like everyone else who survived I was beaten up bad. 

To put thinks in prospective I just turned 60, when I was much younger I am guessing 30 years or so ago I met someone who I think was 70 at the time who started investing with me, after some time, it was clear he had real wealth. One day I asked him how did you accumulate so much money and cash flow. He said it very simply, I started buying real estate when i was young, before you new it if was paid off and I was wealthy. He told me what I said, buy good real estate, let the tenants pay it off and dont die. If you do this, you dont have to get fancy or complicated but be steady and if you dont die you will become wealthy.  

I can tell you story after story of what happened to me and how this effected me. Some seems nuts, but real. 

Appraisal fees in general have been going up and they have been taking longer to get done. if you want to get it done fast, you might offer the appraiser more to do it as a rush

Yes I understand, as I said a critical part of my strategy is dont die. Think of it this way, if you borrower 500k every year and pay if off over 30 years, Time goes by very fast and you will be wealthy. I made a YouTube on this subject. 

Not buying more CRE

when rates go up values come down. I believe now in an unstabilized market is an excellent time to but if your buying at the right price. Money is made in markets like this

If they are good properties keep them both, every year you will pick up increases in rent and real estate is a great hedge against inflation, as well I would not look at CRE like you do a typical allocation in the equity markets.

Doing a little self promoting here but in some situations GeltFinancial.com does seconds and subordinated debt  on commercial real estate.  

Its really a strategy issue. I am a big fan of buy and hold and dont die. I would pay off over the amortized period, with rates being so low I would not make extra paydown payments, But use that money to invest and buy more. Every month your building equity, if you payoff the loan in 20 years and do that on several, you will be a very rich man.