All Forum Posts by: Jeffrey K.

Wow, I should have proof read that last post. Sorry for the grammar and typos!

I do not know much about this end of the business as it is too risky for me, but I think his numbers are for a projected sale date of 2010. No one knows what the market is going to do, and may say it will continue to go down into 2010, so this is a huge risk. If you have the money to invest, I would pick a rental property at a deep discount that you can afford to hold. If you do not have the money, stay away from the huge interest rates that these hard moeny lenders change and sit the rehab market out unless you know you have a winner. It seems like 10-15% P&I could sink you ship very quickly. My question to Mr. Omar is, are you planning on buying this house? It sounded like you were going to actually see a property through to completion with pictures and all. It would be great for our Atlanta members to be able to be able to drive by and watch your project progress, or even take a tour if you have the time. Keep up the good work.

The book might be inspirational, but it is poorly written. If you take anything away from that book, take the drawings and the enthusiasm and find a good book that shows you the numbers and the options in the business. Stay away from his real estate book. It is written to a segment of investors that are very rare, if they exist at all. It is written for newbies who are going to invest in large apartment buildings and how to analyze these deals. Read a few books, learn about the 50% rule here, start networking, and start looking at deals. These are the ways to learn.

Dont pilots make over 100k a year? Why would they want to rent a bed? Do you have secure storage for their stuff? I am no expert, but arnt whore houses set up in this manner?

Len,
This is typically how Real Estate Agents think. It is not an insult, but successful investors seem to analyze deals differently. Buying your cash flow with a large down payment is no good. This is artificial cash flow. Run your calculations at 100% financing when you analyze a deal. I do agree that in most cases a fixed rate mortgage is a good idea and that sometimes paying cash can allow you access to deals others might miss out on.
JEFF

What did you figure out?

If you live in NJ then invest the money back in NJ. Why would you want to go to Cali when everyone there wants to buy elsewhere for cash flow?

Repair your credit score first.

I never give a valid email on a site that requires one. Most people of my generation are wise to this trick and do not want to be contacted. If your website and product is well represented this information should come to you.

What is this early profit?