All Forum Posts by: J J

Here in NC it is under $4. I was in SC yesterday and paid $3.39 for regular at exit 90 on I-85 about 16 miles in from the SC-NC border.

I do not understand why people are complaining about the price of gas. As a percentage of their income it is near historical lows. In the 1940's it was higher as a percentage of average income than it is now. Back then people complained about the price of kerosene and meat.

Originally posted by Taz:

A hypothetical for the group...

When applying for funding, do you disclose all assets?

No. You do not have to disclose all of your business or personal assets. You should disclose enough for the lender to be comfortable and make the loan. Never disclose personal assets unless you are forced to personally guarantee a loan which is the most foolish thing you can do.

The lender wants to know about lots and lots of assets sure but it does not affect their underwriting decision. They want a long list of assets in case of default.

Originally posted by TheMasterKey:

Mike + Christian, why do you recommend starting small (with SFR or 3-4 units) instead of a 10-20 unit as Taz recommends? Wouldn't the success in either investment come down to doing the proper due diligence?

Brian, I am neither of the ones you addressed this to however I read there responses and want to add the following:

Everyone is answering from their own perspective. And some of the analogies are really bogus.

Learning to fly a 747? Getting basic experience first?

Rubbish.

Here is the thing to remember, anything over 4 units is a whole different ballgame and there is damn little about apartments you can learn from owning a sfh, duplex, triplex or quad. Anyone who says you can learn how to invest in apartments by buying a house is nuts. I don't care how much experience they claim nor do I care how many books they wrote or lectures they gave. I've found in this business by the time the ink dries on the paper most books on this subject are out of date.

Just my crusty old opinion based on over 50 years and thousands of deals.

Now, I think it is time for my oatmeal, gotta stay regular.