All Forum Posts by: Ken George

I've done only one short sale and that was in January, 2011. A 4-plex, renovated to studs post Katrina, has good tenants and the seller, a dentist from CA, did not have a clue about investing in this market. The NOI today is 17.6% with full occupancy. I don't ever expect to luck out like this again.

Link not correct.

All the $'s created out of thin air need to eventually rest somewhere. What other scenario other than higher inflation is there? Just give it time to roost. There's a reason inflation protected bonds are up 10% ytd. But than again, like ALL economists, who the hell knows?

All properties are owned in my name with the dba only used so I sound like a professional real estate entity. All properties are high end and very well maintained. With my 22 years prior experience in the London and NYC commercial insurance markets, I am also certain that Lloyd's will not deny defense of, or payment for, any successful claim. With adequate coverage provided by a AAA rated carrier, you have nothing to worry about.

I operate as a dba, own outright several apt. buildings, and have a $1m umbrella liability policy. Unless you have a partner, I find this LCC stuff nonsense. As does my very conservative attorney. Maybe we're just old school, but we've both done very well by keeping it as simple as possible.

They often compete with me on advertised deals. And when they try to sell me something it's usually priced too high yet they act like the $$$ is nothing but paper. Like most plaintiff attorneys, just looking for another pigeon.

Since he's solvent he should honor his mortgage contract and kick himself for thinking he knew about real estate investing. My brother found himself in this same boat and blames who else but his mortgage broker of course. Since he's also solvent he is still on the hook for the mortgage balance left over from the short sale. And his credit is now mud.

I agree Matt. 80% of the deals I've made were w/o an agent. One was in fact a long distance handshake w/o a contract. The closing attorney flipped out in a good way. Every chance I get I tell other multi-unit owners I'm a buyer. The ones in there 70's are a great target!

In any market it's ocation, location, location with a minimum NOI of 15%. Why anyone would accept less is beyond my comprehension?

Fuget abot it!!! She's moved outta state. Be glad she's gone and move forward.