All Forum Posts by: Jon Klaus

Welcome! What are you looking to learn? What type of investments?

If you fill out your profile, we'll know better how to help .

Austin definately has opportunity as it is growing at twice the rate as the rest of the US.

My first REI deal was in 1993. I assumed a non-qualifying FHA assumable loan. They don't do loans like that anymore, but subject to exsting financing works pretty much the same way.

As I recall the numbers were buy for $48K with $13K down. No repairs.

I sold it on a wrap around mortgage (seller (me) finance) for $69K. The buyers got a divorce and defaulted after 2 years and I got it back. They were rough on the house and I put about $8K into rehab.

I then sold it again on new FHA financing for $72K.

I agree with Jon and the others, you should get a job and save as much of your income as possible. You should determine to find a job that you are as passionate about as REI and then you won't feel like you are missing out.

Why not try $20K and see if they counter or better yet accept your offer?

Welcome Mark. I'm curious what does a typical SFH sell and rent for in Rabat? What kind of deals do you do in Morocco?

No December deals, but that's when I decided to get rolling more seriously. I am buying to hold long-term. I have a HUD foreclosure under contract now. I plan to buy several more this year.

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Welcome. I know what you mean about chomping at the bit. Since I decided to do some deals in December, I've been motivated, but hopefully not a motivated buyer.

There is an amazing amount of good info here. Good luck!

What does your neighbor do? How is he investing today? What is his net worth? Is it growing? Is he the one you want to emulate?

Would you rather buy real estate for 50 cents on the dollar today or 85 cents on the dollar in a couple of years when the market is booming again? I like buying dollars for 50 cents. It's got me looking for 40 and even 30 cent dollars.

I'm looking for referrals to Texas attorneys who know contracts for deed, lease options, installment sales, mortgages etc. Especially as related to mobile homes which can be part of the real estate or separated from it.

Also looking for investors doing land/home deals in TX.

Maybe she will get motivited as time passes by. The type of lease is really important. As Mike says triple net includes all the expenses, so they can be great, but typically you use them when a tenant has the entire building on a long term lease.

Other leases are net, gross, and full service. I've seen gross plus electric, too. Your expenses on a full service lease could be north of 50%, but they are rare in retail.

Cap rate is a quick acid test

http://www.biggerpockets.com/forums/12/topics/27975-cap-rate?highlight=cap%20rate

I'd want at least 10% in this market.