All Forum Posts by: Sam Yin

@Joseph Fenner

This question has come up from time to time.

I use the app. Still works. Using it now.

I'm not sure how old the app is, but it ported to my new phone without any issues.

@Brian Kempler

I have to agree with @Kevin Sobilo here.

To your OP, as long as the buyer fully comprehends the deal, from all angels, and have no illusions of full benefits of home ownership, then there is no reason you cannot proceed. Since there is not lien/loan, then you can create any type of loan you want if the buyer agrees.

It still kinda sounds like the buyer may not be fully aware of the nuances of the deal. It's a business, so it's your choice how to run it. Wrapping am asset in an LLC, then selling the LLC is not uncommon. Selling the LLC that owns a property as a business type loan is totally fine since there is no real institution involved.

 Arielle,

You got time, but better make it quick. Find a QI and get them in contact with escrow to get the ball rolling. You can always just use some of the gains to invest and cash out some. But jump on the phone quick!

@Bandu Khote

Add another policy. Or use another carrier for the next one.

Your agent may be lumping them into one... Thus 4 may be your max.

It would also give you the option to live in part of it, separated from the tenant. It cost less than you think to do this. If you are short on funds, consider a HELOC on it so that you avoid changing your current rate.

 Based on your post, you have internal struggles that no one on this forum can help with.

HOWEVER, based on your post, consider spending a little money to break up the house into either a 4/2 + 1/1 OR  BETTER YET, a 3/2 + 2/1. Then you have a duplex to rent out. Make way more money. AND when you are ready to move in, take down the wall and make it into your original house, OR BETTER YET, when you are ready to sell, sell it and it will likely command more money than your 5/3.

This will allow you to keep the house until to can settle your feeling and make a decision on what you want to do. You ay find that your children does not really care what you do with it.

@Julia Hagen

If they are all permitted, then I would safely say 10 doors. Otherwise, it's 3.

But like some have said, it's really nunya, and it says nothing about Cash flow, equity, wealth, or FI.

With that said, it's up to you. As others have mentioned, there are those that are a bit vague and never truly reveal what their equity/stake is in a syndication. It's what ever makes you feel happy and right.

Yup.

@Ashish D.

There have been a lot of honest responses thus far and very fair for you to interpret. I can see that you are intrigued by the strategy. But I think the underlying tone, that has been made clear at least once, is that if it was a lucrative strategy, more people on BP would do it and discuss it in a positive light.

Here is my personal experience:

In the 90s, there were a lot of late night infomercials on this. I bit and sent in my $24.99 to get my starter kit. It came with the strategy book, a VHS explaining the entire thing, AND a book of current tax leins for the area I picked at the time, San Bernardino, CA. The book was LITERALLY over 6 inches thick!!! It was parcel number after parcel number, with little to no description. Then you have to go to the county house to get the correct addresses or Thomas Guide map/block and go drive by. Most were either burnt OR LAND LOCKED. I'm talking about wedges of land/property that requires you to make a deal with the neighbors for access or fight for easement.

I was young man, single, full of energy and life. I had just left the Army and bought a small house on a hill with a great view. I dealt with Russians in Yugoslavia, Bosnia, and Kosovo and even took out targets in Iraq at the direction of Pres Clinton to take the Lewinski candle off his back. I was willing to take on the world. I was working full-time at motorcycle shop and used ALL my free time to do DD. This endeavor defeated me fairly quickly. The cons out way the pros.

But I digress. The Internet was in it's infancy and there was no such thing as Google. Information online was scarce... or maybe not... I wouldn't know, since I couldn't afford a computer because it costs around $3000 for a complete system, WITHOUT A MODEM.

I'm posting this in hopes that it helps you to understand this is not a new strategy. It's been around. It's not as popular as traditional REI because it's not as lucrative as the Internet suggests. Those that make it happen, they often have a guide/sponsor, have the money patience, and time to follow through. They probably live at home or have a spouse that pays the bills. Most importantly, they are often in areas that have less complex barriers to clear title for resale.

Just my long 0.02

@Bruce Woodruff

I was about to tell this guy to stay away from REI if he has a business making that type of revenue, unless his margins are ZERO.

But looks like you beat me to it, and he is radio silent.

Keeps the Forum entertaining, I guess...