Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Michael H.

Michael H. has started 15 posts and replied 93 times.

Originally posted by @Jim K.:

The banks are not going to give a tinker's damn about us when we can't make the mortgage payments when the rent nonpayments start stacking up. We can tell them "federal worker tenants yadda yadda yadda" all day long and they'll still ding our credit.

I very simply don't know anyone who works for the gubmint who isn't working for the gubmint for a steady paycheck and benefits. They wanted all that stability in their lives, they should have saved for a few months of runway just in case their sure thing went away or was suspended temporarily. But we all know they didn't really want stability. They wanted someone to take care of them, like most people do. The right coattails to ride. The right gang to join.

Well Daddy Paycheck's on vacation, now it's time for them to go sell their sorry little skillset to someone else. Will they? Hell, no! There's gubmint-worker mentality to be accounted for. It'll be, "I'm so sorry, but there's a shutdown, and I thought, maybe, until it's over...but...but...I just KNOW I'll get back pay!"

What is this? The federal workers need a helping hand, they get it. The banks need a bailout, they get it. When am I going to get my own damned safety net? Who's going to float the landlords some cash to tide us over when something we don't expect happens in our business enterprises? Are all the voters gonna get together and establish the Landlord Relief Fund?

I'll get a sneer and an earful of shoulda, coulda, woulda if something goes wrong. So will you. You'll get that all day.

But we should cut gubmint workers a break. For God and Country. Because they'd do it for us, right?

 I feel sorry for you.

Post: Best Banks in Atlanta

Michael H.Posted
  • Investor
  • Kennesaw, GA
  • Posts 98
  • Votes 127

I'm in Kennesaw and I have BoA and Chase, they are both equally annoying to deal with. But if you're looking for a business account, there aren't many options other than the big banks.

Post: Are you prepping for the crash?

Michael H.Posted
  • Investor
  • Kennesaw, GA
  • Posts 98
  • Votes 127
Love all the ideas. Personally I would say I’ve been “preparing” by ensuring I have a considerable amount of equity in the property I buy. With the 1031 basically I’ll increase my cash flow by at least $1000 a month with the same monthly mortgage by putting down roughly half as a down payment. The property I’m selling was bought 5 years ago at 187 (37 down) and I’ll sell for about 270.

Post: Are you prepping for the crash?

Michael H.Posted
  • Investor
  • Kennesaw, GA
  • Posts 98
  • Votes 127
@Matthew McNeil my thought was it could be better to pay the 25k in taxes if house prices dropped significantly. I’m not going to chance it though.

Post: Are you prepping for the crash?

Michael H.Posted
  • Investor
  • Kennesaw, GA
  • Posts 98
  • Votes 127
@Jason DiClemente a lot of people would disagree with you. Are you sure you don’t have any bias at work? Rose colored glasses?

Post: Are you prepping for the crash?

Michael H.Posted
  • Investor
  • Kennesaw, GA
  • Posts 98
  • Votes 127
@Max Petrov here is one article discussing it. http://time.com/money/5235032/just-around-the-bend-this-is-when-the-stock-market-will-crash-according-to-5-famous-investors/ I tend to go with the experts on this because I’m not one. I’m just starting out as a real estate investor.

Post: Are you prepping for the crash?

Michael H.Posted
  • Investor
  • Kennesaw, GA
  • Posts 98
  • Votes 127

I'm curious what investors are or aren't doing in relation to the impending market crash a lot of people (smarter than me) are saying will happen in the next 2'ish years. 

I'm selling a house in the next few months and contemplating just paying the capital gains instead of doing a 1031 exchange.  Probably won't, but it's a thought I had.

Post: Atlanta, GA. CPA that has experice working with investors.

Michael H.Posted
  • Investor
  • Kennesaw, GA
  • Posts 98
  • Votes 127

I'm looking for a CPA that specializes in Real Estate. I have a business partner and we have an LLC and currently 4 SFH in the 200k range. I'm also an overseas contractor, but my partner is in the Kennesaw/Marietta area. All referrals welcome.

I'm looking for property management companies that service the greater metro Atlanta area. I spoke with one, but they charge 1 months rent as "finders fee" that reduces my monthly cash flow lower than I want to go. I'm open for all suggestions. I currently live overseas, have multiple single family homes / condos (In Kennesaw, GA) I would like to have managed at a reasonable price.

Post: Keep or sell a Las Vegas property?

Michael H.Posted
  • Investor
  • Kennesaw, GA
  • Posts 98
  • Votes 127

I did consider AirBnB. It would improve my ROI. I've been told there are legal battles between the casinos and AirBnB and that could last quite a while before settled. Basically I don't want to deal with the red tape. I am currently looking at some condos in midtown Atlanta for AirBnB though.