All Forum Posts by: Alan Charles

If any of you veteran successful real estate fellas lost everything, God forbid, but hypothetically just for kicks and BP purposes. The question is What would you do and how would you start making your first million in real estate if you were thrown into Anytown, USA with none of your existing contacts, no money and didnt know a soul? Which strategies would you employ to do it? Which would be the least riskiest way? What would be the fastest way? Love to hear thoughts from the trenches.

Try Multifamily Millions by Dave Lindahl. Its as good as Ken McElroys book but gives a different slant. I beleive you can never get enough real estate education. It helps if you love it too!

Link doesn't work for me either. Please can you rectify.

Thanks

This slight reduction in monetary easing could be Bernankes last hurrah. I cant see how incoming Yellen can stop printing money when the outstanding toxic derivative debt deficit remains lurking in the background somewhere.

In the UK(England) it can take up to six months. And the tenants know it, some are just serial non payers. That's why I'm here folks!!

Thanks everyone. Interesting thoughts. I have also learnt from Mark Yuschak that the signed docs for accepted bids need to be sent back to and received by HUD within 48 hours so that could be a challenge from overseas. Unless I could find a courier company with propane rocket fuel!! Therefore a US partner could work but then there's the trust issue. Or a paid power of attorney lawyer may do it. Any further thoughts gratefully appreciated. I would also love to hear you elaborate on the loan issue Mark Ferguson. If the LLC and tax no was in place is it workableand if so what would be the maximum loan to value 70%, less?

Just my 2 cents worth as I have to say that I have been listening to Sean Terry's pod-casts for the last couple of weeks. Mr Terry gives away so much practical free information that he makes all the other so called high priced gurus out there feel ashamed of themselves. The man is virtually a real estate saint. By his own admission you could listen to all of his free info and start doing business without needing to pay him a cent. If you don't want to re-listen to his intro you can skip forward on each podcast, as has been said in this thread already. Overall great , valid, workable realistic information. Send the man a donation.

Does anyone know if I would be able to bid and if succssesful buy a HUD home as an alien (Non US British citizen) investor ? Alternatively would buying through a US LLC help?

Presumably only US citizens qualify for the loans?

Im full time too. I have been since 1997. Prior to that I was part time for four years until I realized it was easier to buy and hold properties that cash flowed. So I bought enough to ensure that I had enough cashflow to live on. I found deposits from credit cards and seller financing. It was a also a rising market so I could refinance and use the raised equity to buy more. It wasn't all plain sailing I have had my share of headaches but if you stick at it long enough the capital appreciation will make you wealthy. I sold plenty too but when I look back at everything I sold I would have made more by keeping them. The bottom line is buy and hold made more people wealthy over time than any other industry or strategy. It works. All you have to do is work it.

Can anyone tell me why they think multifamily apartment buildings or complexes are the best game in town when it comes to investing in real estate. Could it be that a larger building of say 50 units plus has only one roof and one lawn to keep as opposed to 12 fourplexes or 25 duplexes.
Could it be that it is easier to manage? What about the cash/flow? I would love to hear any thoughts from all you multifamily investors out there.