All Forum Posts by: Jason Becher

Have you tried playing different games? Omaha hi/lo in my opinion usually has better players. Also, the WCOOPs are good tournaments but why not play something with lower variance? I grind the 45 mans on stars and make like 120k, but last year I put in 2-3x as many hours playing larger MTTs on Bodog and only made like half that.

You should try switching to different games. If you don't mind what's your stars name so I can look at sharkscope stats?

Originally posted by Michael Rossi:

"AMEN! In addition, I try to remember that I AM NOT RESPONSIBLE for evicting them. THEY made the choice to spend the rent on crack, or a new puppy, or a big screen tv - whatever. It was completely their decision to be evicted - not mine! They made the choice and I am just carrying out their wishes!!! (gee, when put that way, it sounds like a downright nice thing to do!)"

Mike

Mike I agree with most of what you're saying and I agree that you have to take a tough line and evict as soon as they don't pay (I learned this lesson like everyone else). But it's crazy to say that all tenants who don't pay do it because they have to buy crack or a big screen TV. I also don't think that most tenants go in with the intention to screw you.

I don't know if you're exaggerating to make a point or not, but you don't think there's tenants who can't pay because of a lost job or medical problems, etc?

Again, I agree with you about not giving people extra time before you evict them, but don't you think that there are plenty of times that the tenant may be facing circumstances beyond their control?

I'm also a professional poker player who's transitioning into buying real estate rentals.

When you say you can't break 50k, are you a winning player long term? Are you making some money but not as much as you'd like?

If you're sure you are a winning player I think it's a great way to get into real estate. I can take time off to work on real estate deals and the hours don't really conflict much (poker is usually nights and weekends and I usually do real estate during business hours and weekdays.

I don't play cash games but I probably played like 5000 tournaments last year and can give you some tips if you want.

I invest in other poker players.

When I play in bigger poker tournaments good players will routinely trade 5-10% of each other and if one player wins they give the other player the agreed %. There's big variance in big poker tournaments so this helps a lot. I've had a friend win 200k twice when I had %s of him.

I'll back other players that I know are solid for %'s of their wins.

Is there anyway to get a NOO mortgage with stated income for a property valued under $40,000?

I recently purchased a tri-plex for cash for $28,000 and wanted to get a mortgage on it. My parents offered to cosign this loan for me (can varify their income and both have 800+ ficos) but I'm also interested in purchasing additional property myself without any cosigners

Is it possible for me to get a mortage under these conditions? Do people in similar situations get long term hard money loans?

It's getting pretty frustrating considering I've found cashflowing properties and even have the money to buy them but don't have the ability to even leverage my money a little.

Any help would be greatly appreciated.
-Jason

Hey I'm also in gainesville and looking for wholesalers or anyone with cheap cashflowing deals in north florida

Thanks for the responses, I actually ended up calling the IRS and asking them. They said that a quit claim deed can be done before the sale and it will be fine.

My parents co-signed a mortgage to help me get a better rate when I bought a condo, and are on the title. Now I'm doing a 1031 exchange and dont want them to be on the title for the new property or have any tax problems.
My question is should I have them quit claim deed it to me before the exchange or after since I have to have the same owners listed during the 1031.
I appreciate any help.
Jason

found out the answer.
If anyone is curious aparently you can do this and it's called a "reverse 1031 exchange".
-Jason

is it possible to do a 1031 exchange and buy the new property before selling the one that's being exchanged?

-Jason