All Forum Posts by: Ramon DeLeon

I’ll be there if I’m not working. Maybe 50/50 chance.  Thanks

Strong work Frank and thanks for sharing such a great story.  You're in the minority who saw an almost once in a lifetime opportunity and took advantage of it with determination and hard work.  When buying units for 5-20k, vacation is not a priority since every vacation will cost units.  I have nowhere the amount of doors but majority of mine are free and clear.  I was going to buy another unit yesterday but my wife convinced me to pay off another leveraged unit.  Having seen several real estate cycles I feel a downturn is right around the corner.  I'm paying off as many as possible using real estate as a savings account.  

The student loans will always be a handicap and always be a loan that will never go away unless it’s paid off.  Also depending on your income, it may not be deductible so best to pay off student loans ASAP.  

As you’ve noticed, the real estate market has been super heated with rapid price escalation the past few years. This include the western states like CA, AZ, OR, WA, ID and even TX.    Since you’re in CA, homes I bought in Redding during the bust for 60k are now selling for 190k. Condos I bought in Natomas, Sacramento for 140k are selling for 350k. I realistically don’t see the my CA investments appreciate that much more in this market cycle. So my 2 cents, pay off the student loans and start accumulating cash. I’ve seen few boom & bust cycles in my lifetime and I feel this is no different.  

I agree with Carl who suggested taking the time to obtain a CCW.  In the extremely unlikely event you have to use it, the CCW may help you legally.  Also, with reciprocity laws, you'll be surprised how many states will honor a Florida CCW.

I'm a CA investor all single family in escrow for first out of state purchase.  I'm paying asking price & our agent states "in this market" buyer pays all closing costs.  I just received a disclosure that the selling agent is also title company.  It almost explains why I'm paying for all closing costs.  Is this a red flag or am I being paranoid?  Should I scratch the deal or just look for another title company?  Winter is coming and I'm confident there will be better deals in next few months.  Thanks.

Anesthesiologist - love this job but not fun doing 3am emergency hearts, trauma, aneurysms.  Love OB at all hours helping screaming moms get relief from simple epidural.  Believer in "no good things happen outside after midnight."

Mountain Biker - grew up with passion for BMX bikes as a child so transitioned perfectly into this sport.  I live 10 mins from hospital and I frequently start riding from my house to hundreds of trail miles.   Funny,  siblings in Bay Area & Houston commuting 3 hours/day why I live in a "podunk" town.

Mechanic - just my own cars, bikes, dirtbikes

Maintenance Man - Yippie!!!  Haven't done in years.  Not worth our time... 

I have separate insurance for each property in my real estate IRA. I have other properties outside the retirement account and I have separate insurance for all properties and an umbrella policy. You now have me wondering if there's an umbrella policy available for my real estate IRA properties?

Thanks for input.  I'm about to venture in another state and will open separate accounts.  It also appears to come down to basics..... having good insurance. 

My real estate IRA (PENSCO TRUST) owns seven properties between Sacramento & Redding CA. I'm wondering what options I have to minimize the liability of one property from other properties. Can I LLC those properties individually within my real estate IRA? Title is individually listed under PENSCO TRUST with me as beneficiary. Will opening a real estate IRA with another company protect those owned by PENSCO ? Any input appreciated. Thanks