All Forum Posts by: Larry Seith

I'm looking for a good property manager in the Jonesboro Arkansas area. Can anyone recommend a company that they have used and have had good results with?
Thanks.

I think most folks on this forum would tell you that RE investing is not a get rich quick endeavor. It takes awhile to build up the network and properties to create a full time income.
It's also important to have lots of reserve cash for unexpected repairs and vacancies. On top of all that, the banks look at you much more favorably if you can show consistant income from some other source.

Hi Jason,

I agree with Chris. Find a good property manager in the area and ask them what kind of rent is realistic with that property in that specific neighborhood.

I would then compare that amount to the cashflow you could get if you sold the property to another investor and used the proceeds to buy a foreclosure in your area. I hear Orlando has some real deals.
Best of luck in your investing.

Hassan,
I too would like to express my appreciation for your great post here. You are giving us some great "real world" info and we all can learn from the successes (and setbacks) of others. Keep up the great work and I'm sure you'll end up with some profitable deals there!

Hey Mike,
After reading this post and the other one on "cash flow" I was wondering if you could make a simple spread sheet to show the folks here a "ballpark" good deal. For example the rent is one of the factors in the equation that can be substantiated so you start with that. Rent = $800
We use the 50% rule to get $400 NOI
Then use the average 30yr 7% loan to show how much monthly payment the NOI would support. You may even want to take out the $100 cashflow to guarantee income. This would leave you with how much you could pay for a particular property.
I see it as a list of rents followed by a list of prices that you should pay for a property that would still guarantee at least $100 cash flow.

What do you think? Does anybody out there know Excel software and can they make something like this?

How's this for a radical idea.
Let's do away with the political parties altogether. Let each candidate offer their own views on the issues and not be forced into an idealogical "box." Maybe they would be fiscally conservative but socially liberal. We could vote for the individual instead of the party. I think it would end all of this petty political "profiling" and make the country less divided.

Geez Tim,
I just blew all the milk I was drinking out through my nose! I don't normally laugh out loud at real estate postings!

Has anyone out there actually purchased a foreclosure from the VA and how did it go? I understand that they allow you to have more than 4 loans and since I am over that number this may be a way for me to get more rental properties.
I understand that the VA has good financing available and properties are available in many areas. I would be interested in Indianapolis and Dallas.
I'd love to hear about your experiences.

Great idea Joshua!
The amount of information and first hand experience available on this site....

PRICELESS!

It's interesting to note that almost all the people on this forum ( that is us folks who depend on ourselves for income and not the government) seem to lean Republican or Libertarian...
Coincidence?