All Forum Posts by: Kevin Yeats

A MUST read for everyone.

Reading this thread and the online news coverage, I have concluded that, as with most economic stories, we have only a partial picture.

Nonetheless, that partial picture creates what investors fear the most ... uncertainty. As Karen noted, usual municipal services have been cut to (or past) the bone. Would the robbery at or vandalism of an abandoned home under rehab efforts take much precedence with the police department? Or the bigger issue ... would the city see a new business (albeit a SFR rental) as fertile ground for hiking assessed taxes? Conclusion: uncertainty.

On some level this is not much different than a seller neglecting to tell an investor/buyer that the property needs some repair work or that there is an HOA assessment that can change with a simple vote.

My $0.02

I agree with this 100%

Tom, Bryan

Another aspect is that the "numbers" are not static ... they change in both directions ... for the good and the bad.

A major employer in the area could go bankrupt or just move to another state or country ... OR could relocate to the area from another state.

Some of The Donald's failures are due to a changing market (local or national) ... for example, his Atlantic City Casino.

The real estate investor just has to determine what he/she can control, what the actual, real-time numbers say about the proposed investment and what could happen in the foreseeable future. Review and revise this outlook regularly.

My $0.02

Chetan, the others here have posted a lot of good ... and free advice. Set aside some major time to read read read the messages here on BP. Pay particular attention to those that discuss starting out, finding a mentor and growing this business. Also set aside some time to go to REIA meetings (plural) and meet with as many people as you can.

Good Luck

Beware of bogus claims.

I agree with Bill. There are a lot of questionable claims put forth to encourage novices to make investments.

James and J Scott gave good definitions.

Prospective borrowers regularly approach me seeking a loan with a offer such as: I'm buying a property for $200,000 that recently sold for $350,000. That leaves $150,000 in equity to satisfy a lender's 75% LTV limit. So can I have a loan for 100% of the purchase price?

My answer is always NO. The new sales price of $200,000 establishes the new market value (the previous sales price is irrelevant). The borrower, in this loan request, has no equity in the property.

I hope that helps.

Seph, Jon is correct.

Whoever 'sells' this type of property has to have existing connections to that type of elite buyer ... AND that buyer has to be ready to buy ... AND have the money to make the purchase. Don't let the dreams of those high commissions cloud your judgement.

You know, I think she almost hit me with her car when she was returning home one night.

Sheesh

Hi Bryan

This is nit-picking.

I think the slides change too fast.

I would like to see the address (such as 123 Main St) or model number or some other identifying graphic on each slide so that I know that I'm looking at another picture of the same home as in the previous slide ... or a different home as the case maybe.

Nice homes.

Interesting solution Patrick

Nicolas Pretelt Have you asked your attorney what the probability of prevailing is and asked him/her what is the basis for that probability? After all, your attorney will certainly make money in this suit and will make more the longer it is drawn out.

Easiest solution IMO .... next!