All Forum Posts by: Jody Sims

If any of you own cows, but can't think what to get them for Christmas, a recent study shows that bovines have a preference in watches, based on which sex they are. The ladies prefer Moovado or Seikow. The gents prefer Bullova.

; )

@Account Closed Extremely well put. The obsession with having more (money) is at the root of a pervasive conservatism that spills over into far more areas than the bottom line on your bank account. All the posts Julie has made on this subject indicate this has become an invasive obsession for her, closing off opportunities for a more rewarding life. Our existence is finite. The end goal is to have experienced a richly rewarding life, not a life rewarding riches. You should recall that saying... "You CAN'T take it with you." Do with it what enriches your life, or that of others, now.

Ebby Halliday realtors moves a lot of real estate in that area of Dallas and has a lot of experience moving homes in that price range. The location is great, at the heart of most anything you could ask for. There are a lot of folks in Dallas that can afford homes in that range, so maybe it's just the time of year they completed the rehab that's the fly in the ointment.

For those who are unaware, there's a website offering free basic membership called loopnet.com where you can find commercial real estate for sale, from office buildings down to duplexes. I found 3 properties for sale in Lexington (2 4-plexes and a duplex) I'd love to own there, all rented out, producing nearly $4k positive cash flow per month. Some day, I'll get to the point of being able to execute a BRRRR. Just not today. : (

Oh.... they also have paid memberships, but the cost is not for the feint of heart: $265/MONTH for premium, and $445/MONTH for platinum. With Premium membership, you get to see all the lease properties as well as for sale properties. (Why would anyone pay for that?? lol) With Platinum, you get the whole package: search sale or lease properties, find comps, owner and mortgage history, historical sale and lease listings, tenant history, market trends & analysis, and unlisted REO & pre-foreclosures.

Basic membership is fine for most folks. Lets you search whatever market you want for properties for sale and gives contact information for the seller or agent.

Just another available tool for y'all to use. =)

Some will say I am crazy. @Brandon L. thinks we're not at the top of the market, yet, but I suppose that depends on the market area you're in. That said... I think we ALL need to be very watchful of what congress allows Trump to do. If they give him all he has proposed in terms of corporate taxes, there could be a nationwide top coming far sooner than many expect. The question we need to contemplate is whether congressmen are dim bulbs (many are) or visionaries (damned few are). The dim bulbs will give him all he's asking for.

Here's my thinking on the subject. Trump says he'll give corporations a 15% tax rate. He's counting on that tax rate to bring home more than $16 TRILLION in overseas profits (taxable @ 15% versus... who knows how little... .5 to 5%?) corporations are hoarding. He also says he'll close all the tax loopholes. THAT is the fly in the soup. If he does do that, corporations will be paying more in taxes than they are now because most corporations, with loopholes, don't pay as much as 15% in taxes. Rather than bringing home all that cash (read: tax money) and creating tons of new jobs here, my strong suspicion is perhaps only 10% of that money will be repatriated (some CEOs taking the gamble that they won't have another opportunity to bring it home at a lower rate in the future) and it will end up costing us jobs due to higher tax payments, not creating tons more as he thinks. As soon as he made that statement on the campaign trail, you can be sure smart CEOs across the country had their CPAs crunching the numbers to see what the cost/benefit analysis would look like if Trump did all he said he would.

I'm not complaining. I think his strategy is going to create a very nice buyer's market. But, it will be a bad time to be in the housing construction business. Since that's not my field... again, I'm not going to complain.

@Robin Cochran Thanks for the link. When I get serious about investing time in furniture, I'll have to acquire one of the DEROS systems. As for learning techniques, there's Woodcraft, only a few blocks from my house.

http://www.woodcraft.com/stores/582/woodcraft-of-l...

@Chris Carollo Nice job, Chris. Looks great. The ceramics above the sink between the cabinet sections sets off the countertops and backsplash nicely.

@Robin Cochran Wow! Thanks very much for the super-informative post. =) When I am able to step away from both my job and the future REI-ing, my secret desire is to learn to make high-quality furniture, the kind that will be in use for a hundred years or more. Knowledge like you have provided here is invaluable in such a pursuit. I also found a webpage discussing sand mesh and sand paper types and grits, comparing FEPA and CAMI grades as well as backing properties and grit components.

http://www.woodworking-news.com/woodworking-tips/a...

Many years ago, my uncle tried REI. He failed at it because of his strategy, which was to buy a house, move into it, wait for the equity to rise, sell for the increased price. What he failed to realize was he was never going to be able to have more than one property at a time if he was always using only his own money (or bank loans) to invest.

There's plenty of ways to make money investing in real estate and no single strategy is going to fit every investor's needs. There's wholesaling, buy/rehab/flip, buy/rehab/hold, commercial residential, commercial office, and others. Perhaps you could investigate wholesaling as a way to build up your cash reserves, then reinvest into another area that meets your needs. Key ingredients are going to be patience and diligence. Develop a plan and assign yourself timelines. Seek local SUCCESSFUL mentors that can advise you. BP is a good resource, but it's not going to answer all your questions (most, but not all) and can't make your decisions for you. Knowing where you want to go and how you'll get there is huge in winning the battle.

[Edit] Try meetup.com to see if there's a local real estate investor's group that meets your needs. You could meet investors there with experience and/or money to lend.

@Ruth Bayang Yes, absolutely, in my case. My list of charities, when I am able, includes Salvation Army, Wounded Warriors, Children's Miracle Network, Make a Wish Foundation, Buckner Children's Home (Dallas, TX), Only Boys Aloud (Wales (see YouTube)), and Read to a Barber program.

Wow, Jay! That is a really great offer, especially considering the requirement of the charity contribution. Win-win-win-win. =)

Just a side note... I was listening to a real estate show on the radio as I returned today from Athens, GA for Thanksgiving. They were talking about St. Louis real estate and mentioned that St. Charles area homes were gaining value faster than St. Louis homes. For those working the metro area, that might be something to consider as they're looking for homes to rehab/flip or rehab/hold.