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All Forum Posts by: Sean Kremer

Sean Kremer has started 3 posts and replied 195 times.

Post: Will we ever see another buyers market?

Sean KremerPosted
  • Real Estate Investor
  • Milford, NE
  • Posts 201
  • Votes 140
Originally posted by @Mike Watkins:

I am so tired of the negativity in these posts. 

 I'm not seeing alot of negativity from the seasoned investors that are trying to help, only from the excuse makers. We want everyone to succeed in this business, but since that's not possible, reality has to rear its ugly head. 

     I've found that unless you're born with money, this business is NOT an EASY way to make money when you first start out. If you have an entrepreneurial mind and  aren't afraid to do things that can terrify "normal" people, you'll make all the money you need and then some. But this can take years. 

     I think new investors get tied up in the trappings of success before they are successful, mostly because thats what they've heard and seen. Hell I got interested in real estate right after seeing Carlton Sheets step off of his supposed jet and into a fancy car and him telling me how easy it is to be rich. But the reality came soon  later.  I could make the argument that if your new to the business, and think you've done all you can and "there are just no deals out there", and your coming on to a website looking for the magic formula that will replace hard work and make you rich quick, then you may not have the never say die mentality that it may take to really do well, and may do better working for someone. 

     I really don't like negativity either for sure and I avoid it like the plague, but it has its place and is better than blowing smoke up someones backside. I'll take an answer that is uncomfortable to me all day long as opposed to not getting the difficult facts and having them slap me upside the head at a later date.  

Post: Will we ever see another buyers market?

Sean KremerPosted
  • Real Estate Investor
  • Milford, NE
  • Posts 201
  • Votes 140
Originally posted by @Jay Hinrichs:

@Michaela G.  did I teach you the EM trick  :)  works every time. your offer up against all these folks who are so timid to put up any kind of real EM its joke.

but your probably west coast centric and understand how to do things

 And that is really so easy to do and it makes a tremendous impact with the seller. I've bought alot of properties by doing that over people that offered more. When other investors ask me why I would do something like that  I just tell them that I fully intend to buy the property, and sooner or later I'll have to write the check anyway. Might as well make yourself stand out from the rest if you can.  

      You have to do things others haven't even fathomed to be really successful in this business I believe. Scary at first, but gets easier the more you do it. No ones ever been reluctant to sell to me over the  time wasters because they were worried about me backing out when I throw 10 grand into an escrow account. That alone will get almost anyones attention that is worried that I'm a snake oil salesman. Hell the only way to make me consider a buyer serious is if he puts his money where his mouth is. I'll usually take a little more off of the purchase price, or give consesions because I know they aren't going to try to weasel out and waste my time. Very powerful Jay. You're no poser that's for sure.  :) 

Post: Home Depot (Credit) Cards - which one??

Sean KremerPosted
  • Real Estate Investor
  • Milford, NE
  • Posts 201
  • Votes 140

Just an FYI.....Menards contractor cards gets you an airline ticket to anywhere in the 48 states for every $100,000.00 you spend there.  This works good if your a developer and build new homes to sell.  Crappy flights though, lots of layovers, I believe Home Depot is a better return..

    You have to spend $200,000.00 though if you want to bring the Wifey...

Post: Home Depot (Credit) Cards - which one??

Sean KremerPosted
  • Real Estate Investor
  • Milford, NE
  • Posts 201
  • Votes 140
Originally posted by @Jamal White:

Do they have one with cash back rewards?

 yes........  not sure the %? 

Post: Got I an all cash offer with a couple of large weasel clauses

Sean KremerPosted
  • Real Estate Investor
  • Milford, NE
  • Posts 201
  • Votes 140

I'd have problems giving them their earnest money back if something on their end didn't work out that is out of your control.......I would think of these people as time wasters, and if they insist on messing you around while they control your property, I'd put it in the contract that you could still market the house while they are playing with their financing and have a buyer set up if they fail to buy......(i bet they will). If they are serious about tying up your home, then they should be willing to cough up a grand if they waste a month for you. 

   Any serious buyer I know realizes that losing earnest money is like an "i'm sorry this didn't work out so keep the earnest  money on deals."  If it were me, I'd tell them to get their ducks in a row and call me when they're serious and ready to buy. 

Post: ​Rich Dad, Poor Dad Review - Lies and Deception Within

Sean KremerPosted
  • Real Estate Investor
  • Milford, NE
  • Posts 201
  • Votes 140

       Buy all the reading material that you can find on real estate and finance,..... maybe, and this is a BIG maybe, find a mentor who can coach you a little over the phone for the first year or so. NOT a guru, but a fellow senior investor in your area that is actually making money doing what you want to do,....... if they are truly successful and you don't become a pain in the butt to them, they'll probably help you for little to nothing, I would because I feel the need to give back a little to the business that has given me most everything I have. I believe others that are like me may feel the same way.

    To me, Rich Dad Poor Dad is mostly fluff, but in all fairness I thought like he did before I read the book.  I read everything I could find from anyone I could find for the first 10 years and I still spend a LOT of time continuing my education on the internet or the occasional book on tape. 

     In my personal opinion, If after you've scoured ebay and the internet for information on whatever path you want to take with you real estate investing, you still think you need to spend THOUSANDS of dollars on Guru's training programs, then I believe this business isn't for you and your procrastinating. 

    Start small and simple and slowly grow out of your comfort zone, This would be my advice for a new investor. I don't get around other investors all that much, but I can't think of ONE person that went on to be successful in this business after giving some "expert" 40 plus thousand dollars to "mentor" them. If you need someone to hold your hand all the time, you may not be cut out to be self employed. 

    You've gotta be highly self motivated, and independent thinking is not a bad thing in this business. As long as you have some fundamentals. (There can be many different  ways to achieve the same end goal.) Courses, books, internet, experience, can give you all the motivation that you need without making someone else rich.

    Read through bigger pockets for a while, as you figure out who the real movers and shakers and money makers are on this website, and in real life...... read their posts carefully. You may find the one thing all of them have in common........CONFIDENCE in their abilities.

    I'm pretty sure none of them started out that way????? But hey, what the hell do I know??

Sean K 

Post: What Makes a "Sub$30k" House?

Sean KremerPosted
  • Real Estate Investor
  • Milford, NE
  • Posts 201
  • Votes 140
Originally posted by @Ben Stout:

@Lisa Phillips The most fortunate/unfortunate part of all of this for me has been that all my sub30k have doubled in value. I either have to sell them now and find new places for the  money, or keep renting them. I'll probably keep renting them out, but it's nice to think back to 2010 when I was getting amazing $25k houses that people on here were saying were terrible investments. I quit my job in August thanks to these properties. Most have now paid for themselves. 

 Nice.........I feel the same way as you, not everyone has the same goals in this game. 

Post: What Makes a "Sub$30k" House?

Sean KremerPosted
  • Real Estate Investor
  • Milford, NE
  • Posts 201
  • Votes 140
Originally posted by @Bill Gulley:

Well, not being a stickler but we now have 3 topics being discussed, actually 4. I try to keep my comments on topic because I don't care to comment where the exposure of what I might post will be limited to those currently involved with a thread. People do search for topics and I doubt anyone looking for information on tics, syndications, Cali prices and economics or notes will be selecting a thread title about Sub 30K properties!

Matt, the appreciation rate may top off, the velocity of money, the time to recover the money increases the IRR as the return is measured over time.

When "investors" post buying a 25K putting 20K in it then saying the comp is 90 or 120K, I'd say the lack good valuation skills in most all cases, if the buy was actually at market value.

Ben, I had dirt, lots of dirt, I went to paper because it is much more profitable than dirt. As to the return on an investment, the very best deal ever lied about on BP as to a property transaction can't come close to compete with the return of a good note, purchased with a decent discount and then refinanced in 30 or 45 days receiving the unpaid note balance, in fact, to compute the IRR you have to move decimal places over for my calculator to display the return. You'll "smoke" your calculator! There is no contest! As with anything in reality of business, higher returns have higher barriers of entry to that market, education, capital, market influences, physical and regulatory limitations all effect entering into some market. :)

     Bill......

                     Would you mind expanding on the particulars of that last paragraph??

Post: Mobile Home Park Thoughts

Sean KremerPosted
  • Real Estate Investor
  • Milford, NE
  • Posts 201
  • Votes 140
Originally posted by @Jay Hinrichs:

@Sean Kremer  to funny I just bought a 14 unit park but it has a nice house and an apartment along with it that brings in 1100 for those two.

But the tenants are exactly as you describe.. I kicked out half the tweakers and hauled off half the junkers... Walmart just built a big complex within walking distance of me.

I am going to convert 6 spaces to allow full time RV's  and give that a try.

Its got water and sewer but not individually metered.. I just ran all new power into each one though it was a mess when we bought it.

I think when its all said and done it should bring in about 6 to 7k a month and we will be in it well under 200k.  So will see. but if I got an offer on it once I have owned it a year or two so I could get cap gain or 1031 I would entertain that  other wise just see how it goes.

Its in Eugene Oregon so pretty big metro area. with lots of people and this is I am sure the least expensive place in the entire region to live short of moving back in with momy and daddy

  I had a park that wasn't individually metered, we made boxes for the meters to fit under the homes so that they wouldn't freeze and made each one seperate, also had to put curb stops outside the skirting so the city could shut off water without my assistance.  We did all the work ourselves but it is the only way to go to avoid people sticking you with water bills, plus they'll call you when the toilet is running because they don't want to pay more for it. They never do this when your paying the bill. 

Post: Mobile Home Park Thoughts

Sean KremerPosted
  • Real Estate Investor
  • Milford, NE
  • Posts 201
  • Votes 140
Originally posted by @Jay Hinrichs:

@Sean Kremer  to funny I just bought a 14 unit park but it has a nice house and an apartment along with it that brings in 1100 for those two.

But the tenants are exactly as you describe.. I kicked out half the tweakers and hauled off half the junkers... Walmart just built a big complex within walking distance of me.

I am going to convert 6 spaces to allow full time RV's  and give that a try.

Its got water and sewer but not individually metered.. I just ran all new power into each one though it was a mess when we bought it.

I think when its all said and done it should bring in about 6 to 7k a month and we will be in it well under 200k.  So will see. but if I got an offer on it once I have owned it a year or two so I could get cap gain or 1031 I would entertain that  other wise just see how it goes.

Its in Eugene Oregon so pretty big metro area. with lots of people and this is I am sure the least expensive place in the entire region to live short of moving back in with momy and daddy

  Man Jay......a WAL MART right next to a trailer court......it doesn't get any better than that brother. You may house every employee there. Except the manager. :)