All Forum Posts by: James Vermillion

First, this was a very informative thread and interesting debate.

I do understand the idea that the 50% rule is valid for portfolios long term, but I still do not think it is being applied incorrectly. If someone uses the 50% rule to analyze each and every one of their properties and make money off of the investments they make, then I believe they are properly applying the rule. Are the applying the rule for its original use, perhaps not, but that does not mean it cannot be an investing tool people use to analyze individual properties if it fits their business model.

I, for instance, do run an investment analysis tool that esentially utilizes the 50% rule. Will it be the basis of me buying or not buying the property...no, but it gives me another reference point to consider. Thanks to everyone who posted.

Calm down Steve :mrgreen:

Congrats Andy...I hope that is one of many for you!

While there are some rude reply's every once in a while, all in all, BP is a great place. I have been on several other forums (not RE related) and there are many more rude posters on there.
Also, people have to keep in mind that there are some new posters who don't read the rules before posting and I have seen it irritate some of the more experienced posters. You just have to take it with a grain of salt, move on, and learn as much as you can!

I am no Steve, but you can start with these...

http://www.biggerpockets.com/forums/94/topics/17238-get-business-credit-part-1

http://www.biggerpockets.com/forums/12/topics/37432-building-business-credit

http://www.biggerpockets.com/forums/94/topics\/49256-establishing-business-credit

I can probably help you with some of your work for $249/hour :wink:

It may be sometimes deliberate but more often I believe it is a mistake...everyone fat fingers every once in a while!

You are going to need more information. Have you met with her personally? I would definitley not just believe her stories about why her rental history is not good. Talking to her in person will give you a better insight, as you can tell a lot of things from one meeting. Also, There are a lot of threads on BP about screening potential tenants, check them out for some good ideas about other tips, tricks and advice.

For me it is fairly simple:
1) To set my family up financially
2) It is fun and challenging

Those two things make it very worthwhile for me.

There is not much you can do since you do not own the property (and be glad, because that is a sticky situation). I would advise you to move out as fast as you can, before you get hurt.