All Forum Posts by: Pavel Shemyakin

Good to know. Thank you for sharing!

This just goes to prove what BPers always preach - do your due diligence. Trust, but verify. Even here on BP, there are those that will take advantage. Another thing that may be slightly off-topic, but from the same book..... I cant believe it when i see people post property addresses they are interested in while they dont even have it under contract. Sounds like a good way to lose it to some sneaky bastard!

Maaannnn...... I remember when i was in the military, the civilians would ask me: "You were in the Army? Do you know Sgt Stafford? He is my inlaw, he is in the army too!"

Like WTF...... :D

A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities. Businesses can be for-profit entities or non-profit organizations that operate to fulfill a charitable mission or further a social cause.

The term business also refers to the organized efforts and activities of individuals to produce and sell goods and services for profit. Businesses range in scale from a sole proprietorship to an international corporation. Several lines of theory are engaged with understanding business administration including organizational behavior, organization theory, and strategic management.

@Paulette Na Claiming that a daycare with 8-14 kids is not a business in NONSENSE! Pure, fu****g NONSENSE! Maybe its not a successful business, but a business non the less.

What a pile of garbage. 

Dont you know..... every business school, every guru, every mentor always teaches: "The best way to succeed in life is to LIE and be UNETHICAL by misrepresenting yourself to clients/partners/landlords."

If you want to run a day care, by all means. Go rent a commercial property and do your thing. To echo @Janice G., i would not want my kids in the hands of liars.

Coaching can certainly have value. You gotta ask yourself these two questions:

1 - Am i at the stage where i require coaching / advice that i cannot get for free?

2 - What is this going to cost me in proportion to what i have to invest?

I'll use myself as an example.....

1 - Do I know everything there is to learn? NO. Have ai learned everything BP has to offer? NO. Have i learned everything YouTube has to offer? NO. Therefore, there is no need for me to pay someone to hold my hand. Once I feel more sophisticated and increase my portfolio - i will consider hiring somebody to refine my tactics. Besides, I will get much more for my money because at that point the mentor will not have to explain the basics.

2 - I currently dabble in 150k-300k price range. For me to spend $3600 on info i can acquire on my own would mean i am spending an equivalent of 1.2% of the purchase price (300k property). Thats a good chunk of money that can go toward closing costs / repairs. On the other hand....... If i found myself on a receiving end of a crazy wind fall and had a million dollars in cash sitting in a bank account (i know for many on this forum a 1mil is peanuts, not me), i would HAPPILY spend $3600 on education because at that scale this money would have high ROI.

Just my 2c.

I hope everything works out!!

Best wishes! Make the best out of your situation and hopefully you walk away profitable!

Good luck!

Katrina, i think you misunderstood what i was trying to convey. You can be the highest bidder, and still lose your shirt.

"Winning an auction" is not the same thing as "being the highest bidder". Whenever you "win" an auction, you are by default the highest bidder. However, just being the highest bidder doesnt mean you won.

Every salmon is a fish. Not every fish is a salmon. 

Just my opinion.

You need to speak to your insurance agent and let them know that you have a tenant living at the property. They will give you options for landlord insurance. You HOI policy may or may not cover you if you are not the occupant.

Same thing with vacant homes...... You might have a HOI policy on your real estate, but if it burns down while its vacant...... They will likely not pay.

@Cody Ringler, I advise that you follow the first link that @Thomas Rutkowski posted and read a comment from @Martell T.

on page 2. Lots of info.

Good luck.

@Herndon Davis @Frank Geiger

Thanks guys! 

The reason i am asking is because i am about ready to buy another property but trying to figure out ways to get an edge.

I know that cash buyers are able to leverage the ease of closing (cash transaction, no contingencies, short escrow) to bring the purchase price down. Therefore, i was exploring the idea of combining both worlds. Buy with cash (which i dont have... thus - HML) then turn around and do traditional financing.

Pretty sure that i am over-complicating and over-thinking. Just trying to peep outside the box, ya know......