All Forum Posts by: Robert Spencer

@Jason Sanford It can be. If you are comfortable with the numbers that’s the most important thing. You can make money through cash flow, forced appreciation, natural appreciation over time, mortgage pay down, tax savings, and probably some other ways I’m forgetting. Personally, I wouldn’t buy it unless you can get cash flow (at least enough to stick away for repairs and vacancy).

Any idea when the following one might be scheduled?  I’ll be in town visiting my sister and nephew for a few days in March. 

At some point in the distant future the statistics may trend toward ownership and less rentals, but last I knew the trend was heading the opposite way.  Many young people watched their parents work their rear beds off only to lose their house to foreclosure.  Also, technology is enabling more and more jobs to be done wherever a person chooses to be.  So, people will probably not want to lock themselves down to a location when they no longer have something else like a job doing that to them. 

awesome, I’m glad you had a good turn out. 

hey @Dennis J Marsack, I bought a HUD house in Port Huron, and it's been a great investment. We should meet up. Maybe we'll be able to help each other sometime.

Welcome to the site, Jarred.  

@Dante Pirouz, You may want to call Tom Kern.  I think his number is in the Phala advertisers, but if you need it let me know.  He is down to earth and works with multiple companies (At least Foremost and Great Lakes, and probably others). 

@Justin B.

I've had different issues, but the two main issues seem to be that, as you say, the big banks and private lenders won't do such a small loan.  I've called every local bank and credit union that I can find within 30 miles and if I can get an answer out of the person who answers the phone, they tell me that claiming the purchase and repairs will count against me.   Some lenders told me they would adjust for that, but those are the ones who won't do the small loans.  Fortunately, I have a solution.  I'm getting a 2 year loan from one of BP's advertisers and that should give me several years of solid cash flow, and then I'll put it on a long term solution like a heloc or mortgage.  I'll Ben calling somebody of the people who reached out here to see if they can expedite it.  Thanks for taking the time to help me through this. 

My gut reaction is that if she was quick to be defensive, she is probably guilty of something.  If she quickly got so defensive and claimed you were implying one thing, when you explicitly said the opposite 3 times... get her out at the first opportunity.  It's only a matter of time before she decides she doesn't like you for some reason and goes before a judge lying about what you did or didn't say.  If you do keep her, do month to month and keep extremely good records of everything pertaining to that property including interactions with her.