All Forum Posts by: James Vermillion

I think J brought up an important point when he added risk to the equation.

Bryan, how much did the author discuss risk when talking about time vs profit? I ask because I am willing to put a lot more time into an investment to significantly lower the risk. If that weren’t the case I would just put a bunch of pink stocks on a dart board and start throwing to pick them...that would require very little time and could potentially return huge amounts of money, but I will never do that because of the risk involved.
I also attempt to estimate the hours I spend investing in real estate (although I am sure I underestimate) to make adjustments to my strategy.

Wayne,

Please PM me with any information you can provide with any properties in Central Kentucky (I am specifically looking in Lexington).

Thanks,

James

I just came across this article discussing the housing price decline that occurred in October http://www.marketwatch.com/story/us-house-prices-tumble-in-october-2010-12-28?siteid=yhoof). A lot of the discussion you hear on the news and other articles about real estate paints a somewhat rosy picture, that the worst is over and the recovery is about to start. In October 6 cities hit new lows in housing prices (Atlanta, Charlotte, Miami, Portland, Seattle and Tampa hit their lowest levels since home prices started to fall in 2006 and 2007.) As you can see by the cities listed they cover the south, east coast, and west coast, not one area of the US.

This is good news for those people in a position to buy and hold properties, as proper DD can find some excellent deals. What are your thoughts on the housing market for the next 6 months. Do we see this climb everyone talks about, or do prices continue to fall?

I got started by partnering with a friend who was knowledgable and one I knew I would have a great working relationship. By partnering we were able to buy multiple properties where I would have only been able to work one.

Just a quick note on AL...they often are not helpful depending on where in the country you are. I say this because I did at one point sign up, but there were so few entries from my area that it was not worth the money. Check into that before you pay anything.

I cannot speak from personal experience but I have several friends who have tried this and been successful several times. I would say it is worth a shot before moving forward.

Using the market always works especially with Lowes and Home Depot....they hate losing customers to each other. So if you are not getting the discount you think you should (within reason of course), let them know about it. Also, developing relationships is important (as always) and can lead to better prices.

This is an interesting conversation and one that pops up this time every year. It is a good reminder that you can run your business several different ways and still be successful.

Fred,

You can also comp the land and then use the cost to build the house today and depreciate it based on the age of the house. In your case you will probably need to use a combination of comp methods.

Good decision and good luck Bill! Keep us posted