All Forum Posts by: Perry Ivy

Nnabuenyi Anigbogu Well said and I agree, I just oppose the belief that rent never goes down.

Many times and it never worked, yea I'm a slow learner :)

John Warren is your real name John Rambo? Ha I've heard a saying about the Middle East, it goes: America owns the oil, but it's under someone else's sand. While I don't support that belief, the principal applies to real estate investing. I'm in the process of selling a cash cow c property. I have made a lot of money on the property and for the most part it hasn't been a lot of hassle. However my wife and I are a team and I love her more than you could imagine. I don't feel comfortable sending her to that neighborhood. The changes of getting raped, shot, stab, robbed goes up dramatically. The argument could be, well I would never send my wife, or I will hire a management team. What happens if the man dies and there's not enough money to hire the team? You obviously can do as you please, but consider this, what is your life worth?

Jon Klaus I have done some investigating into daves wealth and he's approaching 200 million by my rough calculations. This is based on daves comments on air about each of his 12 llc's being worth 5 million apiece. His home is worth 5 million, he said his building is 13 million, that's not considering his person mutual fund wealth, nor the value of his brand. Matt Ransom Cash is king!! The best part of the story is he sleeps like a baby at night :) I'm not saying I don't straddle the line of leverage, but props to dave for his convictions.

Nnabuenyi Anigbogu I'm a survivor of the crash of 08, not only did values drop across the board, but so did rents. Landlords had to negotiate their rent agreements and compete with the guy across town. I didn't sweat it because of my cash position, but many investors lost everything. Leverage is a scary two way street, your either passionately buying and often paying to much, or its zipping in the wrong direction and you find yourself on the highway to hell. Think of the millions of homes that were in foreclosure, a majority of them came from investors that thought tge had this leverage thing figured out. I wish you the best, but you would do yourself a favor to stroll down the 2008 memory lane.

Jordan B. I'm sorry that you've had to experience the loss of a child. I had a near death experience and I recall my dad saying that it wasn't right and that kids were suppose to outlive their parents. I have an older friend that always says, live each day as though it was your last and one day you'll be right". You are in my prayers.

Jordan B. Your asking a spiritual question and getting carnal responses :). I have always straddled the fence on this one, but what I've discovered is the house that I pay cash for, provide less headache, less stress and have a much greater return. I hate debt, yet I have it and have built my business using it. I did start and operate a successful retail store based on a cash only principal, but I havnt been able to make it work in real estate....yet. Let's pretend for a moment that were 90, what matters? I would say peace of mind, time spent with family, friends, experiences, ect... The wealthiest person in the world would gladly give it all up for one more day. And for us Christians we long to hear, "well done my good and faithful servant, you've been faithful over little, but I'll make you ruler over much".

@david foster I guess it's time to step back and punt :) actually I'll roll it into a rehab project that I'm closing on. 

Dave Foster thanks for taking the time to answer my question. Now to answer your question. The intent with the house that I'm selling was to buy and hold for the duration and I did so for two and a half years, unexpectedly I got an offer that I couldn't refuse. I guess none of that matters though if it's not applicable to my situation. Thanks again sir.

Geoff Flahardy thanks for being willing to help. I have a question. I own bought some land with the intent of putting three houses on it. I have moved one on it already and am looking at another one. I am about to close on a house and will profit 22k, can I do a 1031 on this property and use that to buy, move and set up the new house? Both properties are owned by my corporation. Thanks P.s. Please tag me in your response so I will be notified :)