All Forum Posts by: Jim M.

So greg you say you have accomplished the million dollar a year threshold. How many single families have you done it with? What is the management like for a portfolio of that size?

So over the past few days there have several posts by new investors asking for how to start investing in real estate. These happen to be some people with cash in pocket but looking for direction.

Several responses have been to find a local group investing in properties and partner with them to leverage your money better. Can we provide some EXAMPLES NOT SOLICITATIONS of people doing this. How did it work? How did the financing work? Were you 50/50 with both putting equal money for down payment on loan? Has it ended well? What to look out for. Etc.

500k in commercial property, 500k for rehabs, 500k for hard money lending and the other 500k in a bond account. Live off the income from the commercial property and all profits from hard money and rehabs go to purchase cash commercial buildings. Once the business is running well then you start refinancing the properties to buy more properties.

Property is in Charlotte NC. Thanks guys.

Also, the units pay their own utilities.

I have a 5 unit multi family property I am looking to purchase. It is in a c neighborhood and bank owned. Purchase price is 30k with approx 15k in repairs needed. 3 of 5 units are rented currently. When rented completely property should bring 2250 a month. The property is in a rough neighborhood and

I have already been negotiating with the bank using my own proof of funds.
I have one rehab going on right now and a 2nd one in negotiations(with a biggerpockets member who I met on here!) which I am funding personally. I would like to leave somewhere between 10 and 20 percent of my own cash in the property. This would be for a buy and hold for several years and I would pay off the loan personally in one year or refi. Thank you.

Socialism. So what about the profits made in the stock market? BOA down to 6.12 last week and up over 8 this week. Did I do wrong for buying in the 6.30's and selling in the 8.50's? If they want to complain about than do something about it. The gov't will get their piece of the profit in the form of taxes. Besides, who would you rather have the money go to...the gov't who will waste it bailing out friends or real estate investors who put people to work.

Option two rolling the profits into rental properties.

I'm pretty practical and very skeptical of the doom and gloom. The economy will get better despite what everyone says.

The stock market shouldn't be run the way it is currently run. Too much panic fluctuation allowed. I feel that all investments should be fixed income secured bonds. Is google really worth 25% less than it was last month? Especially with the motorola announcement? This is the stuff that kills me. Don't get me wrong I jumped on Google at 475 and doubling down as its going down.