All Forum Posts by: Kyle Sparks

Take your age and subtract it from 110. That is fair estimate of how much your wealth should be in owner investments. Diversify across the board, not just RE. 3-6 months of your living expenses in a money market account (NOT SAVINGS), Put some towards some SFH, some towards stocks, retirement account every year, blah blah blah.
Point being, if you land on $1 million and don't know what to do with it, talk to a financial advisor, take some classes.
Or give me all of the $$$ and I can promise you a 3% return :-)

I'm with you Carl. I guess the only way an investor would want this would be in a very competitive market. NY makes since.

This forum says "Occupied Rental". I think Frank and James knocked down all of the big ones. There are plenty of horror stories here on bigger pockets about buying occupied rentals without doing proper due dilligence. Good luck with this one.)

Hi Ron,
You may want to consider buying cash elsewhere if it really is that bad. All of those people are fighting over short term capital gains. They're buying into hype in that current market, using leverage and selling to the next guy down the line. If your strategy is buy and hold, patience is your friend, and so is depreciation and long term capital gains.
If getting a mortgage for investment properties doesn't leave you with enough it's probably because it won't leave you with enough.
Take a look at your exposure and make sure you won't be kicking the bucket with all of the flippers when your market dives.

That's good to know. So does that mean I don't have to ask perspective tenants "Were you ever or are you currently married to the previous owner in Fantasyland?"

Holy Guacomole! What a thread. Thanks for sharing Will. What a bummer. Do you think this will change your mind and only pick up vacant properties from now on? I have read more than one horror story about occupied RE investments but I know this isn't your first time around the block. Is it legal to do a tenant screening on current tenants of a property you want to buy?

I guess another question would be: Do property management companies have easier methods of screening/evicting tenants and more importantly do they share any of the legal cost incurred when a tenant they approved turns out to be a 2 year scum bag?

I for one plan on paying cash as much as I can. I like the idea of inceasing cash flow significantly. It seems that in the case of paying cash, the market can weeble wobble as much as it wants and you are just worried about renter rates. I think a lot of people make the mistake of including their rental income into their family budget rather than tucking it away to get another property.

Hi everyone,
I'm considering take the leap into the real estate wholesaling frontier. Should I go ahead and get incorporated? Does it make a difference to the people I will be doing business with? Thanks for the clarification anyone can provide.

HOLY GUACAMOLE! This thread is great! Thanks Steve.

Thanks for serving James.
Hi Andrew,
I actually just finished reading your book "Quick Flips & Fast Cash" along with others by Preston Ely and Phil Pustejovsky. I thought it was interesting to find that the more succesful wholesalers share many of the same methods.
I was just reading a lot of the posts in the wholesaling blog on this website. It sounds like there are a lot of people out there who don't really know what they're doing. It seems that the biggest problem investors are having with wholesalers is that they have bad repair estimates. Do you have any recommended reading for how to estimate better than most?