All Forum Posts by: Angel Gutierrez

If I were you....

Just start buying good performing discounted notes.  There's plenty of them out there at some great prices.

The note industry is in shambles and getting them cheap is relatively easy.

Hand them them over to a servicer and you have a good steady income on cruise control without the property management headaches.

Jus my 2 cents...  ;)

Too many to list.... aside from taxes and liability?

Here's one... my VERY FIRST experience with a brand new Trust.(over-simplified)

Paula(seller), burned her house down smoking in bed. Fire department did WAY MORE damage to house than actual fire did.

I find Paula later. She lived elsewhere .

Insurance already settled with her on fire damage, but wants to sell house as is.

She won't deed it to me because there's still a mortgage. I make a deal with her to put property in trust. Me as successor trustee.

I spend real money fixing house.....

In the meantime, I have a ready buyer. 

I go to close and ask Paula(leave message on her machine) to go to title co. to sign docs.

3 days later, escrow calls me.... Paula a no show.(I feel dread washing over me).

I go look for Paula... she not home.... but lights are on. I go LOTS of times to find her..... still no Paula!

Finally, neighbor tells me Paula got carted away last week in ambulance. I find her in hospital..... in a diabetic coma! (aw man...panic setting in)

I tell escrow about Paula. 

Escrow officer says.... no worries.... you're the successor trustee anyway... if you want to close your deal come sign today!

I did. And got paid.

Paula woke about a month later with zero recollection of our deal.  She passed away shortly after.

Yes, I attended her funeral. I also bought Paula's remainder estate from her sister as trustee of Paula's Trust.

Trusts work. Use them for your own good.

Hope this helps.

I'm ex-Navy as well and anytime a fellow Vet asks for help...? I'm there. ;)

My first house was a 4 unit. Absolutely loved it!  I should have NEVER sold it.  But I was young and lacking a brain.

I would recommend you buying/building a 4 unit. I build them all the time.

4 units fall under 1-4 family residential lending which translates to cheap long-term interest rates.

As far as management is concerned, David Tilney is hands down THE BEST. Do a search ... you'll find him.  I struggled with tenants until I learned the RIGHT WAY to manage units. I'm recommending his program because its great! 

Any of you Vets out there that got more questions for me? Just ask!  ;)

Transferring props to LLC not a bad idea, but NOT great. Use Trusts instead... Much better.

Another reason(among many others) is that D.O.S. with lender becomes moot. They can't penalize you for  estate planning since the props and loans are in your name.... that would violate Garn-St. Germain Act of 1974.

Trusts have saved me time and again! Would NEVER conduct business without one.

Hope this helps....

I don't really like chiming in much anymore , but dealing in vacants is the best way to go ... hands down.

Of course for those folks out there that like mls properties .. that's ok too... I guess.

Jus sayin..

Btw... Merry Christmas to all! :)

"Nothing works.... until YOU do."

If you're skeptical about (fill in the blank here with just about any program out there)... then walk away.

You say you want to "get into investing" and I'm assuming you're referring to buying houses.... stop talking about it and go do it already. Trust me when I say.... there's nothing hard about it. No mystery.... sorry.

If you want to get good deals on houses... start looking and start talking to "sellers" ... If you want to be in the house business? If you want to be in the car business... you have to buy them cheap so you can sell at a profit to stay alive and stay in business. No mystery there either.  But the key is.... "BE IN BUSINESS!" So nothing works unles YOU do.

I'm a subscriber to Kents program and so far so good. Do I recommend it to you? Not if you don't have the money to get going in the house business. And trust me when I say.... you're gonna need money. There's no way around it.

The one thing I like most about this business is that in this country, it's the ONLY business where average Joes like me that don't come from a rich family or are politically connected can make big money.

Hope this helps and good luck ...

Angel G.

House O' Foam, Inc

Land NOT included, Our building cost WITHOUT county fees are around $72/sq. ft. with medium grade finishes.

Start to finish for a 4000 sq ft building like a 4 plex is about 6 weeks.

A.G.

House O' Foam, Inc. 

$100,000/per unit in Little Elm? Or ANYWHERE else in DFW? HA!  Not for existing construction!  If you buy… you paid TOOO MUCH!

On the other hand…. if that's what you're willing to pay per unit..? I'll gladly build you one!

A.G.

House O'Foam, Inc.

You can build with shipping containers ANYWHERE as long as you have an engineer to sign off on your plans(not hard to do).

The biggest issue with using them as living spaces are the low ceilings. Human beings generally don't like them.

A. G.

House O' Foam  Dallas, Tx

It's not a bad way to go…. but most people don't like the low ceilings. Jus sayin"