All Forum Posts by: Michael Zuber

Be Safe

One last option you could have tried if the seller was open to it was to change the terms. For exmple maybe the seller didn't want or need all the cash at closing. Maybe the Seller could hold back 100K on each property.

Then maybe you could help educate the seller on the numbers that Jon and other ran you through and tell him how skinny the deal is on cash flow. If the seller buys this you could structure the payments to fit the cash flow. For example try 0% Interest for 2 years and then stup up to 3% and then 5%. Or if you get real creative maybe you just accure interest and pay it off with a 5 year balloon but never actually pay interest until the year 5 balloon.

In the end this was a bad deal the way the contract was written up but sometimes you can just go in and change the terms and the deal looks better

Good Investing

Heading to airport now. Just got done reviewing all my notes from the great sessions. The wife and I had a blast and is great meeting new people. I also got to thank guys like Rich Weese and Jeff Brown for helping me over the years. Look forward to next year

Good investing

First thing I would do is setup my buying criteria. I would then go see at least 50 properties. Then with the data from my property visits and my buying criteria I would figure out what a good deal is and what a great deal is. Then I would go out and buy as many great deals as I could that met my buying criteria
Good investing

Age 39
Retire: Stop working for the man as soon as all my cheap rental houses get back to replacement cost. Which could be 7-10 years from now.
Net Worth: 5M+
Cash Flow: 20K+

First Happy Birthday BiggerPockets and congrats to the proud Papa as 7 Years is like 70 Years in Internet time. You have done an outstanding job.

For me BiggerPockets started as a place to be a passive reader. I started by reading the Blogs and Forums. This aloud me to find some tremendous leaders who were always willing to share their experience.

From there I started to reply to an occasional blog or forum post that was in my sweet spot of buy and hold investing.

After a few months of this I stepped up and proposed my own forum discussions, asked some questions and wrote an occasional blog post.

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Should be lots of FUN!!!

Good Investing

Getting Ready for a sales call when we got the news of the first plane hitting. We simply confirmed the news and called off the meeting. Then it was all about finding friends and co workers.

Nice Work!!!

To put it simply NO that is not an okay strategy. You need to have a framework for an acceptable deal and then go find one that meets that mark.
Everyone has different benchmarks. Some is minimum Cash Flow, Some it is yield, some it is discount, etc.

Get a model, do your homework and don't settle for break even - especially in this market!!!

Love to see the data in this report as I suspect all we are seeing is more Foreclosure sales in the Move Up and Upper End. Last year it was all cheap REO's getting sold now that has slowed down and we are seeing nicer properties sold at steep discounts.

Problem is when you look at total value of all sales and divide by number of transactions the Average Price point is bound to rise as you foreclose on less junk and foreclose on more nice stuff.

These national numbers and national trends are a joke!!!

One man's opinion