All Forum Posts by: Jimmy H.

Tony - great advice, might you also suggest soliciting regionals as well - or just the big boys? It seems counterintuitive that any bank would be expanding to new branches now, but its possible. What about banks in an older building in the area - perhaps offer them better rental rates?

Finexaminer - I have tried to research and see if the bank is being closed by the FDIC or if it is simply downsizing and retracting its presence in certain markets. How can you find out, I've yet to be able to figure it out online - the bank is Integra Bank as regional bank headquartered in Indianapolis I think. And are you implying that the RTO will ofer a certain amount to me as the new owner and if i don't take it then what?

I agree Vikram, good article.

"The fight begins today", that's exactly right. No time for congratulations, this is in fact just the beginning.

IAfter a few unsuccesful attempts at a stimulus and a generally strong negative connotation of the word itself, I would actually support a large "stimulus" focused on three things:

1)Rebuild our aging infrastructure
2)Build a "smart grid" and build large alternative energy projects to power it
3)Build water recycling and conservation projects

This would solve some of the largest issues looming over America in the long term, while at the same time creating jobs, putting money in workers pockets, and boosting the domestic economy in the short term - exactly what we need.

No more "stimulus" that goes to funding emerging market development to the extent that it has become overbearing and unsustainable and has emerging economies imposing restrictions to reduce foreign investment.

I hope the Tea Party doesn't compromise. I'm glad they made that statement right after the election results were clear - and I hope they keep harping on that message enough to bring some change.

The Tea Party certainly doesn't have the presence in congress to get anything done but they can at least continue to spout their views and agenda. When enough Americans get on board hopefully the Republicans realize it is in their best interest to ride the wave - and for that matter the democrats too.

It's time we get back to what our constitution intended, give power to the states, reduce spending, cut entitlements, bring our troops home and protect our borders, devalue the dollar and cut corporate taxes to 0%, and focus our spending on education.

We need radical change, and not the kind of "change" Obama apparently had envisioned.

I think dems and reps both have it wrong and the Tea Party is not 100% right on every issue either, but they most accurately reflect my personal sentiments and hopes for the direction of our nation (ex. I love Rand Paul but he needs to drop issues like abortion for the 100 other issues of greater importance).

I hope the Tea Party has enough presence to get a clear message across to both parties as well as to the constituents that are too ignorant to know what is right for this country.

Rand Paul for president

I have a bank property I am interested in. I know such an investment, with the majority of your tenants going to be banks, could be quite risky. I know federal regulators are trying to diminish the number of banks and thrifts from north of 10,000 to closer to 6,000.

Property is newer construction, 6 years old, listed at $1.9mill with a 11.5% CAP rate and a rate increase in a couple years to a 13% or so CAP. The bank is Integra bank, they have already vacated the property but must honor the lease for another 8 years. Upon purchase they would likely want to negotiate a lease buy-out. This would be worked out for the new buyer before the sale takes place.

I was wondering if anyone has experience with a similar deal.

I could probably get the price down from listing and the CAP isn't bad as is, the issue is getting it leased again.

Will there be big issues with financing in such a situation?
If I can get it financed and use some of the buy-out funds to pay some holding cost and get it leased again it could be quite lucrative. But that "reward" comes with an obvious risk.

The bank is in a great and growing area, new development, golf cours ecommunities, good employment and is in a good area on the main connector road.

What do you think?

I am considering getting my real estate license to sell some property that my family and I own, to save transaction cost on RE investments that I purchase or divest, and to have supplemental income.

Although it will be a "second job" I will not be marketing myself especially hard as a RE agent. I also want to do enough work in the field (1000 hrs per yr) over the next two years to become a Broker and start my own small firm and save on "commision splits", and to make a little profit from the brokerage.

My questions is what are the potential pitfalls of being an agent. Can I not sell certain properties, or must I make full dsiclosure at some points. What about dual agency...if I was selling one of my investment or my own home and offered dual agency - if I give disclosure is it a breach of my fiduciary duty?

What are the exact transactions and situations that I must avoid if I were licensed?

I'd agree with the suggestion to build your own. Excel is great, cheap, and customizable.

Grid-lock is typically viewed as good, but in this particular situation and with the shape we are in i'm not sure that it is. It means we are set to head in whatever direction we are loosely aimed in at the moment, which isn't a good one at the moment.

I'm glad gridlock will prevent any further socialization of our country, but i'm not sure grid-lock is good in this situation. The debt will continue to grow with nothing being able to be done about it, we're on the wrong tracks with noone to stop the train IMO. But it is not as if we have a choice, unforetunately, as I mentioned grid-lock looks to be a given at this point.

We are headed towards stagflation, slow growth, and a growing debt burden while in the mean time we will not be able to grow GDP or revenues to pay for it or make it affordable.

Fannie and Freddie were quasi-government and now that they are majority owned by the government outright, I would argue that they are not private corporations. Forcing "affordability" on the average american was what got us into this problem and now it's the solution too?

This doesn't bode well for housing prices, but I can't see how it will too severely and directly effect the bottom line of the MF investor - or even the flipper who truly knows what he/she is doing.

I think we are entering a stage where we must devalue the dollar to bring jobs back to America and reduce our trade deficit.

I just don't see how any progress is going to be made in grid-lock when both parties are fighting each other and not for America.

It seems inevitable that the Republicans take control of the House, and likely gain many seats in the Senate.

This type of situation is called "grid-lock" becuase both parties can essentially keep each other from getting anything accomplished.

It is my understanding that grid-lock is histroically good for equity markets, but I wanted to start a discussion to see what BPers believe the effect will be on the RE market.

You can take into account the potential "foreclosuregate" scandal as well as it seems inevitable. Although IMO if a borrower deaulted and missed payment the bank has the right to foreclose, regardless of if they made paperwork errors - I don't see how that should negate their overall right to foreclose.

The main premise of the book from my understanding, is spend less than you earn. This should be a simple equation that even the most uneducated and unintelligent individual could understand. The problem is that it's easier said than done, social influences weigh heavily and people are always trying to flaunt and out-do their neighbors and friends.

I think work ethic and passion is by far the most important factor that differentiates the wealthy from the others. you don't really ahve to be that "smart" IMO.

I think the recipe for success and wealth is this:
If you are passionate and determined and thus work hard towards your goals, and are financially responsible (spending less than you earn) wealth can be achieved by almost anyone.

the two opposite ends of the spectrum are the individual who labors at a meanial job just enough to pay his rent, cable bill, and a case of beer and box of cigarettes so he can sit around his house watching tv. The other are individuals who inheret wealth and don't respect what it takes to make it yourself. Neither have a tremendous work ethic and neither understand you must spend less than you earn.

I was raised in a similar environment to NC Mark, and although my friends and I are only in our mid 20's I can already see many of them heading down the wrong path and squandering their trust funds on expensive cars and at the bars. There are a few though, like myself, who are already working good jobs, have master's degrees etc. and know it will be hard work to give our kids the lifestyle and opportunities that we were afforded. Only time will tell.

Work hard, spend less than you earn - and it helps alot if you can find a job that you truly love and are passionate about, it will make doing both a lot easier and life more enjoyable overall IMO