All Forum Posts by: Jim C.

@Vincent Crane Yes-  Real Estate Investing can give you freedom if done properly, or can JAIL you (take your freedom away) in terms of emotion, money, stress, and create a NIGHTMARE JOB if not done correctly. That's what Ben tries to teach others in subtle ways that only a few on BP may truly understand. His posts on PIGS is a prime example as to why some people "attack" him or don't believe him even though he explains why. Some just won't get it or choose to understand it. And I think that's where the frustration / comments  comes in on some of his posts. 

If people think they can just "buy" real estate and expect the $$$ to roll in without a good understanding of it, it's further from the truth. When real estate investing goes south (or doesn't even get started), it's easy to get 'depressed'. That's why only few succeed while many will try.

It's interesting to see how other posters have responded to @Ben Leybovich's initial post and thoughts, etc. Some assume he's depressed, others worry about him. Yet others want to be like him or dislike him for causing others to "self reflect". Still others try to tangent off into something entirely different. This is indeed an interesting psychological exercise! It makes people think differently like a good motivational book.

It's funny that most people are simply chasing those "Green Rectangles". In fact, every morning between 6-9 am and 4-6 pm that there are traffic jams across America because people are just chasing them. No purpose, no meaning..... It's strange. Sometimes I turn on the news in the morning just to watch the traffic jams. Most people never wonder why traffic jams occur. Once they do, and get out of the jams themselves, they're on the right track.

@Ben Leybovich- and some others posting here- You are right... Most people use RE as a means to chase those rectangles... Yep. It's more than that. Once you (and you have) reached the success level and you stop and look back and say "WOW! How the Hell did I do that????". I know I did. Once I realized I had enough I thought "What's Next??". I thought at 41 I could retire and just ride off into the sunset while my RE continued ticking without me.... Yea, it was fun for awhile, but then it (retirement) became boring. Many successful people feel isolated and lonely because they haven't found their "Drive" or "meaning".

It's kind of sad to read that people get into RE for the $$$$ or Early retirement, etc. It's more than that. Those folks will never truly be successful until they realize there is a higher meaning to all of this. 

I listed a apartment for rent about a week ago and thought about possibly accepting Section 8 for the apartment. I had a few questions for the veteran Section 8 landlords on BP. They are:

1) I assume FMR's include all utilities? My water,sewer,garbage is paid by a $100 HOA monthly fee. Can I add this to the FMR? Or is this subtracted to get just the rent section of the FMR? Its a 2 Bedroom and the FMR for that county is $856. So,do I subtract off the $100 HOA fee and Electricity to get my actual rent I would be receiving?

2) This apartment is located in Northwest Indiana. The vouchers that prospects are showing me are Indiana Vouchers, but they live in Illinois! How is this possible?? I thought that people living in 1 state (say Illinois) can only get Illinois vouchers? These prospects have lived in Illinois for years and get an Indiana voucher without getting on the waitlist? Am I missing something here? 

Yep. I too have evicted in winter... Understand that some courts shut down (or don't do hearings right before and after Christmas up to New Years. Judges must have a soft spot for the holidays LOL.

@James Wise - I agree that is not to be taken lightly. But there are always ways out of the contract legally. One way is to get your lender to "unapprove" you prior to closing. This can be done a number of ways. If he's serious about getting out, he should contact a real estate attorney and see his options available to him. 

If you haven't signed the closing papers yet, its not too late to just walk away. Sure you would lose your earnest deposit  (1k) , but would be saving quite a bit more than that if you paid too much for the property. 

I pondered this Liability question about 8 months ago and talked to my Erie Insurance Agent. He was able to get a "Liability Only Quote" which was about 25% of what my Full Blown coverage was. I haven't decided yet if I want to self-insure, but am still considering it. It took awhile for my agent to explain to Erie what I wanted, but was finally able to get a quote back from them for Liability only. My agent expressed concern about "but what if the house burns down?". For a 30K pig, my savings with liability only would be able to buy another one in just 2.5 years! Crazy!

So, I would call Erie Insurance and see what they can do for you.

I like to ask potential applicants during open houses what they think of their current landlord and look at the reaction on body as well as what they say. It's funny what some evicted tenants will say about how their landlord "never fixed anything", or "made me pay late fees because I couldn't pay the rent because I had to pay my cell phone bill / car payment, blah blah blah"). 

Hi! I'm looking for a person who is interested in becoming a property investor in Northwest Indiana who wants to become a successful buy and hold property investor. I am looking for someone who wants a career with a high earning potential after learning the trade and being mentored. I will teach you everything you ever wanted to know about buy and hold investing and then some. I will show you how to do buy and hold investing step by step.

Interested? Intrigued?

Here's what I want:

- High School Graduate with Average GPA (3.0 or higher).
- Mechanical Ability Required. Ability to fix simple things.
- Ability to learn new things- not afraid to get their hands dirty
- Someone who is mechanically inclined and can learn and understand new things
- Ability to use the Internet to research solutions and knowledge
- Motivated and responsible. Must be willing to work when required
- Common Sense
- Have an interest in Real Estate and Real Estate Investing
- Someone who resides in Northwest Indiana, preferably in the Schererville, Dyer, St. John, Crown Point, Merrillville, Highland, or Cedar Lake Areas.


You will begin this position as I did, doing most of the dirty work such as repairing and cleaning rental properties, getting them ready to rent, as well as maintenance of these properties (both vacant and with tenants). Pay will be discussed for qualified applicants, but the education you receive from me will become priceless over time. This will start out as a part time position but can evolve to a full time position for the right successful person. You will start at the "ground floor" and learn every intricate detail that is required of a buy and hold investor. Over time, I will teach you everything you ever wanted to know about buy and hold investing and then some. I will show you how to do buy and hold investing step by step.

I am a successful Property Investor and am willing to teach someone the "trade". This process will take several years but will pay off for the right person willing to put in "the time". This is NOT a quick get rich scheme, but rather a mentoree position that will help you understand how to research, buy, repair, and manage rental properties to provide passive income for you. You will shadow a successful investor and learn the ins and out of real estate investing. I am giving back to someone since it was someone that did this for me!

If interested, PM me for more information.