All Forum Posts by: Account Closed

Investing in Detroit.... 

IS A BAD IDEA!

I am sure there is some creative way you can do this. Think outside the box.

Put the 2 rental properties (you want) into a company and call them a "ABC Business LLC"

Leave the 3rd in your name.

Sell the 3rd property for what you paid or for a slight loss  so you don't yield a profit. (if you can't take a slight loss find every deduction you can in the book and record the items and then sell the property to lower your taxable liability.)

Then take those proceeds and use it to pay off the other 2 properties!

Good Luck

Michael Kowal

Short answer.

Buy a foreclosure. Fix Foreclosure. Sell forclosure. PROFIT! Do this within 90 days. Rinse and Repeat!

Good luck

Do what I did and max out all your available lines of credit at 0% for a year.

Getting an investor for your first flip. Do you know someone with deep pockets? Ask, Ask, Ask!

My biggest repairs happen if I ever get ****** tenants. You will have that though. If it is just standard water heaters and hvac those aren't even that big.

My suggestion.

Network better with people and negotiate like a boss to get better deals on the installation of HVAC and hot water tanks. I have done so well that I don't even worry if that happens because I have great workers that give me basement bargain deals for hot water tanks.

Now if we are talking structural...... Well that sucks really bad and I feel your pain!

If you can get a big enough revolving credit line with a rather low interest rate then investing in real estate will almost always make sense.

You might be using the wrong terminology but I think you are on the right track.

MAX it out all the way and go get yourself some properties.

You sound like a guru of BP!!  

How long did it take you to get from 0-1MM and where you are now?

I'd like to get some of the jedi master real estate knowledge you have!

Good Job

Start a conversation with him and simply ask him. Ask what he owes.

Only way you can find out.

If you ask you shall receive.

 ^^^ 

That color works nice and Accessible Beige goes very well if you keep the trim white. Both colors are from Sherwin Williams. My father has owned his painting contracting company for over 30 years.

Also find a painting contractor in your area to save you on the cost of the paint if you are going to do it yourself. We get paint at over 50% off the MSRP.

Happy Painting

Advice.

Simplify your post. 

Use less words when you write. 

Be more direct.