All Forum Posts by: Stephen Dominick

Now let me start with, I'm not " The sky is falling kind of person" but what do you make of all the information out there that were near another historic collapse in RE prices.  Maybe even a whole economy collapse.  A lot of things are lining up. Not really sure about investing in anything in the near future. What you say? Thanks.  

Looking to put together a small first test mailing to OOS Absentee landlords in my county in Pa. I have subscribed to List Source but I am finding a difficult time wading thru all the filter questions. Does anyone have any advice or a default template of how to generate the list I am wanting to put together. I did one already but I had REO checked by accident and the list I purchased was all bank owned properties that were pretty much useless to me. Don't want to do that again. Thanks for you help in advance.

Two schools of thought.  Purchase cash flow building from day one with existing tenants?  Empty building with potential and screen you own tenants? Most problems I hear about with first investment properties are existing tenants. All thoughts appreciated. Thanks.

Thanks @Ben Leybovich for your insightful input, I would also like to thanks all those that have commented. There has been some really great advice. To me it is very frustrating because I know how hard I have worked and the time I have spent on REI, and the time and effort I am willing to spend in the future. I see the path to success very clearly through REI, I owe it to my children and my family. My day job will most certainly not get us there. Another fact I know is that my wife is not happy when we are flat broke which we will be again when this seed money is burned through. I then will not have the patience or drive to rebuild. I fear that my gained knowledge in REI and her unwillingness to try will mean the end of our marriage. Sadly.

I have been a BP student for a couple of years now.  I have worked OT, sold my stuff on EBay, worked extra for a landscaper.  I now have 15k saved up for investment. STOP!!! She wants to fix up the house we live in, maybe take a summer vacation, new clothes, shoes, maybe a different car??? Really?? All these things take us away from MY goal. What to do?

I would say. Its a work in progress. Every time a talk REI and cash flow I just see her eyes glaze over and roll back into her head. She is an avid reader and try as I might I cannot get her to read her first book on REI. I actually find it very odd, because her parents climbed the RE latter as she grew up, moving and upgrading several times during her childhood. Her mother is extremely well off at this point due to this strategy and she will admit readily that REI is how she did it. Could be frustrating at times, but I will ware her down.

Well the property belongs to my mother in law so I really don't know what the cap rate or lease terms are.  I really don't get involved in the details of the property.  I can appreciate that more information is needed to truly examine the deal. The family diner was on the property for 57 years, the bank bought out the business and tore down the diner.   I do know this property is one of the few that this bank leases, they typically purchase the properties that they build on.  My father in law passed away some years ago and one of his last bits of advice to my mother in law was to make her promise to never sell the property.  I also believe that the bank has a first refusal if she were to sell.  She called my wife the other night and told her that someone had made her another offer on the property for 6 million, that kind of number would get a person thinking, but I still think I would hold the property.  The monthly lease payment is 18,000. It started at 12,000 10 years ago. Thanks to everyone for the input, I really appreciate it.

@Jay H. and @Tim Ball , yes this is a lease for just the land. The property has been paid off for years.  The bank built their north east head quarters on the property and my family member just receives checks in the mail every month.  @Jonathan Key NNN is a Triple net lease.

I have a family member who owns property in a north jersey location, the property currently has a 99 year NNN lease arrangement to be restructured every 5 years. The tenant is a prominent bank that very rarely rents property. There are offers to buy from other investors almost every week. Should she ever sell or is this the definition of passive cash flow forever?

You gotta be kidding me! I hope someday to be so bored with my successful investments, webinars, blogs , podcasts and the like to constantly screw with the new folk. The 2% rule and all other rules " of the thumb" have been touted for as many podcasts as I care to mention that I have listened to. Would it be the same for the percentages of returned calls from a yellow letter campaign or any other arbitrary number or formula or calculation depending on market conditions, moon phase, economic conditions, fracking in the northeast, or snow amount in Boston. Is REI so localized that this web page has made its self irrelevant. We need a new forum for only the guys who have figured it all out. The rest of us can find out the hard way, those who last, win. Sorry I've had a bad day :)