All Forum Posts by: John Barnes

Originally posted by @Tommy Dang:

@Mark Ferguson, those guy who go bankrupt because overleverage, and not have much cash preserve. If you have 20 units, pay off 10 units, and have cash preserve, then you should have a lot of cashflow, then cash out refinance a few and buy more, and keep repeat. When you have more units you can cash out finance every 1 year or 5 years. 

Do you want to buy 20k properties 20 -30 years ago now worth 60k, or you want to buy 80k properties  now worth 1.5M.

@Jon S. we have it all here, greater boston , education, bio,hospital,tech,financial,entertainment, you name it. 

Tommy

hello from sunny 75 degree Sarasota

Originally posted by @Mike F.:

Originally posted by @Mark Ferguson:

 It surprises me how many people are investing for appreciation. Cash flow is so freaking awesome.  

I don't know what to really say with statements like that from someone like you. You've had a lot of success to still be saying things like that, I don't get it.

Net worth is awesome, cashflow is meaningless.  The only thing that matters in the end is a high net worth. Cashflow is akin to your salary at a job. 

You'd rather have $7500 a month job?

Or

$1,300,000.00 in cash?

You should think about start paying off your mortgages, start with the mortgage with the smallest amount, when that one is paid off apply the new extra cash flow from that one to the next smallest dollar amount mortgage... in the mean time sell the worst 3 properties you own and use that as seed money to start buying in Florida. In a couple of years your net worth will be 2 million.

Well this I don't really understand because if I had the $1.3mil in cash I would be looking to turn it in to... cash flow. 

Obviously more than $7,500 a month cash flow, but cash flow nonetheless. 

What I don't understand (and this is a serious question), what is the end objective of RE investing? To quit working, for me. What is it for you? To show a high net worth on paper? 

Of course with the 1.3m you can sustain for a long time, but you're spending that cash nest egg. 

Yikes. Is the lot included or is it in a park?

still available as of 1/20/16

buyer fell through, still available!

CLICK HERE FOR PHOTOS

Contact info:
John Barnes and Austin Bradley | Bradley and Barnes LLC | show contact info

Move in Ready 3 Bedroom 1 Bath Newly Renovated Home for Sale! The catch is, there is no catch! This is a really solid deal. Use this as an income producing rental, a 2nd home, you name it. Ton of possibilities. Home is turnkey and ready to go.

821 26th St NW, Winter Haven, FL 33881

$42,000

KEY FEATURES
Year Built: 1935
Sq Footage: 960 sqft.
Bedrooms: 3 Beds
Bathrooms: 1 Bath
Floors: 1
Parking: 2 Carport
Laundry: In Unit
Property Type: Single Family House

DESCRIPTION

Complete Turn key property. ALL NEW.... Paint and Carpet, Newer electrical, drywall, etc. See photos, nice home. Property is in GREAT shape. PASSED 4 POINT INSPECTION last year, have that available! electrical, plumbing, A.C. and foundation. 

Hello Everyone,

We were able to purchase the last property. We now are under contract to close July 6th on a duplex and we need $35,000 to close the deal. Duplex can be held as collateral and is currently rented for $1,175 total with tenants in place.

We really need to get this deal done so any offers for a 1-3 year note are welcomed. 

Thank You,

John Barnes

Bradley and Barnes Investments LLC

Hi,

My name is John, I'm an investor based in Central Florida.

My business partner and I have agreed with a seller on a 60,000 Duplex purchase and need to borrow 40-45k to purchase the property. We are looking for an option without the huge out of pocket closing costs that traditional lending will require (almost $5,000 here at 5.0% APR).

We could pay this note off aggressively in 3-5 years if need be, or if we can get a good rate, would consider extending it.

The property is rented at $1100 total with market rent closer to $1200 total so the deal is good. Both buyers (myself and my business partner) have income over $60,000 and credit over 700 if that helps, no worries on paying the note down.

Please let me know if anyone is interested in this opportunity or has someone in mind who might be interested in this.

thanks,

John Barnes

941-914-7393

or

[email protected]

duplex's can be had here in the Tampa area for 25-35k per door. Interesting how different it can be isn't it.

Hi everyone, general question here.

Interested in a property that came through in an email from a wholesaler. Cannot reach them by any method for a week. I saw through tax records who owns the property. Would it be wise to skip the wholesaler at this point and go to the sellers directly to buy the property? Or can they not sell it now because the wholesaler technically owns it at this point? Unsure about that. I'm happy to give the wholesaler my business but if I can't get in touch with them (multiple emails and voicemails), I feel like I need to do something to get this property.

If anyone knows, let me know.

thahnks,
John