All Forum Posts by: Justin Glass

Okay. This is a similar question. Another property I have, after selling a parcel that joined it, I ended up with no money in it. I could sale it today for $120k. I have been leasing it annually for $8000 and the hunting club wants to do a 5 year lease for $40k. They have also done some improvements.

If you take refinancing, and leveraging it out of the equation, should I hold on to something that won't pay me $120k for almost 15 years? Or should I do the lease and then sale it in 5 years? How is this on the terms of investment? The ROI is essentialy free money.

I know it kind of depends on what I'm planning on doing with the money if I sale, but how does it stand as an individual investment?

I have never used a gopro before but I knew that they work well with action sports, that's why I suggested the ATV route. I was wondering if it would be shaky though.

I am wanting to start making some videos of my property I have for sale. Some of you guys that have done this, is a GoPro a good camera to use for this? I invest in hunting in recreational property acreage from 50-500 acres. So a video tour would be nice.

The advantage to me, if it will work is that, is that I could use it mounted on an ATV driving around property and even consider buying a drone, such as the DJI Phantom, to take aerial views and tours of my land. 

What are your thoughts and opinions on this? Thanks guys.

Hey guys. I am planning on remodeling my current residence. It is a small 3/1.5. In the next 5 years we will probably be upgrading to a larger house to make room for some more children. My house is paid for so I plan on renting it out. 

My question is what are some things that I can do to make my house more "tenant proof"? What kind of floors, blinds, interior things maybe exterior things, anything that makes the house better set up for a rental?

@David Krulac 

Absolutely sir I believe you are correct on a lot that you have said. I will definitely put that book on my reading list. 

Just to reiterate I meant no disrespect towards you when I said that.

@David Krulac I hate correcting people, but to say Dave Ramsey is not a real estate guy is ludacris. He has had his real estate license for 40 years and tens of millions of dollars worth of real estate.

That being said no one can argue with your credentials, I have listened to your podcast and greatly enjoyed it. You are right and Ramsey is right. People invest a million different ways on here, and you can't argue with the fact that a lot of people have become wealthy both ways.

I think most people tend to lean more to your side of investing, and share your philosophy with not having debt in there personal life, but using debt in their business and investing. I tend to be of the same opinion.

I love Dave Ramsey and a lot of things he says, and he is a multi-millionaire, so he has enough credentials to back up what he says, but he is not the only multi-millionaire in the world. Not everyone got there debt free, but hard to argue with a man who did it.

@Greg Carr the reasons you state are some of my cons, it complicates advertising and transactions sometimes.

@Account Closed I compleltly agree with you, I would be working through my time to be a broker during the period I didn't need the license. 

This isn't helping! Lol all good points both ways. That's why I go back and forth

One thing I have heard my father say for years is that he wished he would have started doing what he does now many years ago. The way I see it, I being 27, am technically my father many years ago. I pay particular attention to long term investments  that he says he wishes he would have started many years ago. With this knowledge and "head start" , when I am his age, hopefully I will be able to tell my kids, I'm glad I did "fill in the blank" years ago not I wish I would have. if you start investing when you are 18 in real estate or anything else for the matter, you will be way ahead of the curve. So think about things you wish you would have done and started and give them that advice, because they are technically you, many years ago.

Trying to decide if I should get my license or not. I buy and sell real estate, mainly flips on hunting and recreation land, and have been very successful for several years. I don't need it to do what I do, but thought I might be a broker one day, so I should get it now because it might be harder to get one day. What are some of the pros and cons? Have some of you guys ever received any negative feedback buying and selling being a realtor? I work with a lot of different realtors currently and I don't want to make anyone mad because I used someone else as a sponsoring broker. Thanks for your feedback.

Hey guys just wanting to throw out what my numbers are and let some of you analyze this to see if I am getting a good deal or I should negotiate with my bank for better. First off I'm not sure what all I have tied to this line of credit because I have quite a few assets, but that's not really my question (assets vs amount they loan me). I have a $1M line of credit at 5%. It is a 10 year ammo with interest and principal due annually. Never in 5 years have I had to make a down payment, it is 100% financed. I use this LOC for flipping properties, most properties are sold within six months. I only use it for the mortgage and pay improvements in cash. What do you guys think about the terms? Am I getting good financing or is there something better for me?