All Forum Posts by: Robert Hudson

Jayme, please dont take this as a personal knock or anything like that. I know you are trying to educate yourself and make a good investment. Your approach and motivation to buy is a classic sign of a market about to implode. When people have an urgency to invest because they don't want to miss out and are willing to overlook negative cash flow, that's when the pros sit down and wait.

what leads you to believe that the property might not perk?

what leads you to believe that it might not perk?

I never buy from a partial seller.

I can't imagine finding anyone to work 24/7 for lodging and a stipend. If your cost of labor was only $10 an hour that would be over $87,000 a year! Sounds like this couple is the secret to your success.

I understand about the insurance and liability but it is a sad state of affairs that kids can't have a swing set because of the fear of a lawsuit. Just sad.

This is a different scenario but I feel it is also somewhat a fraud and is used every day. A buyer makes an offer to buy a house often as soon as it hits the market. The offer is often full price and has an inspection clause. The buyer and agent choose to ignore obvious problems with the house and items that need repair. The house is now "pending" and it quits being sold. The seller is excited that they have a pending sale and are mentally moving forward. The inspector finds a lot of problems ( many were obvious pre offer) seller comes back with a lowball counter offer knowing he was going to do that in the first place. I am seeing inspectors used far too often as just a negotiating tool.

Someone explain to me how this is a good idea. First off a cash advance fee will be at least 2%. Is a cash advance eligible for the zero percent interest rate? Even if it is, don't cash advance rates run higher than purchases? After the intro period you will probably be facing 18% interest. Over the course of 5 years hard money would be cheaper. What am I missing?

Considering that this is in California, each item probably requires a permit and light bulb replacement can only be done by a state licensed, bonded and insured light bulb changer. 

Bottom line is that he isn't a motivated seller. This park might be worth half of his asking price.