All Forum Posts by: Joffrey Long

Jessica,

I offer fractionalized interests in California first trust deeds, but only in the Southern California Area.  We don't make any owner-occupied loans, so the loans are secured by properties that are investments for the borrowers.

If you are open to discussing Southern California loans, please contact me.  My company has been in business since approximately 1982, and I've been licensed as a California Real Estate Broker since 1979 (www.Bre.CA.gov) 

You can get some additional information about fractionalized loans at my webpage,

www.FractionalizedTrustDeeds.com and other information at www.TrustDeedInvestmentGlossary.com

I hope this has been helpful.

Joffrey Long

www.JoffreyLong.com

(818) 366-5200

Thanks so much, everyone, this is great.

Joffrey

[ Nitty - Gritty Rental Management Stuff 101 ]

Smoke odor in an apartment - would appreciate opinions, recommendations, some magic spray or powder you've used, any ideas to eliminate the odor.

(It was tobacco smoke, just to be clear.)

Thanks in advance for your recommendations.

Joffrey

William Brace

I agree with what you said, William.

It was amazing to see how many shared the same view - but logical. Once you start "collecting real estate," like the guy who collects rare stamps or anything else - you just want more.

Almost all my tenants drive nicer cars than I - although granted, my vehicles are not a difficult standard to beat.

Thanks, William, and all others, for commenting on this - appreciate hearing from others with similar wealth-building tactics.

Joff

Jad,

You hit it right - car payments are one of the most effective methods of keeping the "poor" poor. (or at least working for someone forever.)

......the high cost of bright and shiny objects.

Oh, I forgot to mention - I had to stop driving my previous car at 379,000 miles when it could no longer pass the Calif. required smog test - forced me to spend the big bucks - $3,000 on the Explorer.

Wow!

Thanks for all the responses - too many people to name, but thanks so much to all!

And my sincere apologies to the new car industry - guess you won't get too much cash from this crowd - except for replacement parts.

Thanks again to you all - now I don't feel quite so crazy.....at least to the extent of this issue.

Happy Holiday,

Joffrey

Ok, long weekend and a little lighthearted fare:

Real estate investors - what kind of car(s) do you drive? Do you prefer luxury cars? Modest cars? How many drive cars with many, many miles on them? And - if you drive a nice car - do you have a "property car" to drive when you go to meet contractors, workers or tenants at properties?

Question 2: How has the vehicle you drive compared to your net worth during the years?

I drove the nicest, most expensive vehicle when I had a much lower net worth.

Now, I drive a very modest vehicle with over 200k miles on it. I can more afford a luxury vehicle than I ever could, my net worth is higher than it ever was, but I keep thinking about that license plate frame that says, "My other car is......." and I want to get one that says, "My other car is an apartment building."

I do feel I've fallen prey to a different, more subtle type of status-seeking. That is the statement that some feel they're making by driving cheap, old cars, basically saying that they know you know they don't have to prove anything financially.

Before you write this off as silly, do note that you make faster progress acquiring wealth if you monthly vehicle expense is $600 (including gas, insurance, maintenance and vehicle acquisition costs) instead of closer to 1500 per month.

Ok, would love to hear your feedback on this. The cars? Oh yeah, they're great:

1999 Honda Civic with 200,600 miles on it.
1998 Ford Explorer Sport with 201,000 miles on it. (great for hauling stuff to the properties)

Joffrey Long

As much as it humbles me to have to agree with Bill (Just kidding, Bill) I have to agree with Bill.

He's right - one, you have a contract for deed and your view, or your contractual agreement that you can elect when to turn that relationship into a mere tenancy and treat it as such, may not fly - probably won't fly.

Bill is right again, (man, this is painful) that landlord/tenant court will smell quickly that this conflict is not for their shop, and push you down the hall to civil court.

Ok, now Bill is right again, in my opinion, in that you need to see Mr. Lawyer on this, BP is great, but the only advice you can rely on here in this matter is to go see Mr. Lawyer.

Good luck with this. I am in California, where courts are well.....nevermind. But the point is, that I don't do any kind of lease option or contracts for deed due to the problem you are now facing.

Best of luck with it all,

Joffrey

Kyle H and Joe B.

Thanks so much for your replies. This is exactly what I needed.

I'm just trying to get an idea, so I can start the "back of the envelope" initial calcs.

Thanks again, and anyone else with input, please post !!!

Joffrey