All Forum Posts by: Account Closed

@Henry Lazerow does the pulling from a Heloc work anywhere? I have a VA loan really do not want to move but I also would like to use my savings to start buying property or use my VA to purchase a quad, triplex or duplex and repeat buying. My goal is to build enough that my daughter her husband and my grandson are in a better place for their future. They just had a house built I think 5 years ago bc she just turned 30 so I think that's right. She used her VA loan and I would love to pay of that house or even purchase it use it as a rental so they wouldn't have the payments. Call me crazy but I love my family. So I am trying to find ways to help them and do some communities for homeless veterans because I have been there too.

@Kanita Jefferson i think I'd rather be out of line than incompetent! ;-) Peace

@Kanita Jefferson sorry if you do not like the unlicensed however who determines who's competent or not? I have worked with many licensed that are highly incompetent. I took an oath many years ago and I stand by that and first and foremost is ethics and integrity. What I do not know I surely know how to get the answer, find a team. So I figured since I joined this site I would put questions out and get a response. However incompetence that's not a part of my vocabulary, nor is the word No or can't, or fear. Remember there are more billionaires in the world that have no formal education it's not always what you know it's who you know and even then they don't know. Case in point, January I was at the NYSE on Wall Street for a workshop, asked one of the financial advisors a question from Chase and he looked at me like I was crazy you know why? Because they are book works, go by algorithms, they do what they're told to do by the companies they work with, don't dare go to far and think outside the box, just play the game. How do I know my ex-husband worked for Merrill Lynch and I worked corporate america. So to come on here and insinuate someone is incompetent because they are just starting out is rude and a less stronger mind might give up, because they're vision, given by their higher power, did not meet your expectations. At the end of the day you might work and see only numbers, others are more speculative, dig deeper into the problems and make it work before they sign that dotted line and can't get others to agree when any other day they might walk away. Let's be real nobody has the monopoly or the key to how to get it done, as long as it's ethical and professional then let the living live. If everyone had the answer they'd be rich. or I guess by your standards is everyone had a license they would be rich!! #ArmyProud 

@Brian Briscoe I am surprised a Marine dared to even put his 2 cents in lol So I read it wrong it was for the defaulted loan, but just one down on to the next one. God did not give me a spirit of fear, so when I get one you'll be the first to know. Trust me when it is time to deal, I can deal. I might be a newbie in real estate but I am not a newbie in deals. So, with that said thanks for the response and I have no idea why everyone is so hard on newbies if they try something of this size, only one person out of all of this even asked if I would like them to look at it. I had not even put the deal together but I was glad he looked before I started because I misread it any way. Instead of people being negative ask to give a person a hand, because some are not as strong as others. What one person sees in a deal another will not. I have a deal or looking at a 30 unit well my guy goes by the numbers and I do and don't. A property or some properties can't lose money, it is the management's fault, then you have to figure out why they're not doing their job then fire all of them and then look at how you can structure that property and make it make money especially if it's in a market where it should not be failing anyway. 

Only those who can see the invisible can achieve the impossible! also God only gave my vision to me, so others would not understand how it is supposed to work itself out. Walk by faith not by sight.  Think & Grow Rich Napoleon Hill 

@John James they tried to portray Henry Ford as an idiot in a courtroom because he had no formal education. Henry Ford asked the attorney, "why do I need to know anything? I have a desk full of buttons, anything I need to know I push a button and someone comes and I have the answer." With that the whole courtroom changed their minds. See it's about the vision and finding the right people to push you and guide you through the hard times. I'm not a lawyer either but if this was a forum for lawyers and I was in law school this would be the place to gain knowledge. So I am always ready for anything that comes my way, it's all about not being afraid to ask what you don't know. #ArmyProud

So, I am looking at 16 units w/32 beds, 8 units - 16 beds, 2 Triplexes 6 units w/ 8 2BD, 2 6BD

The Rent Roll is atrocious, P&L is even worse. I can't blame the property bc it can work it's a management problem. 

They have the nerve to want a million for all 3 properties, however, it should be under I used what they each last sold for and based on the property taxes I found on each county and using the lowest property it's about $999k. I think that's generous. 

Still without seeing it and knowing I would put most of them out and fire management. I am sure maybe some up keep to be done. I still would say $850k. Any ideas or anyone want to work on it with me. I am a newbie but I am 55 yrs old and I am on a mission. So where there's a will there's a way. 

If they have the property they can have the cash. It's nothing expensive but cheap fix, it will appraise for more, and the process repeats. Where there's a will there's a way. I waste this little bit of money eating out, buying shoes, buying my grandson whatever he asks for so I guess it's time to put it to work. 

i'm a newbie and before I make this purchase I would like to speak to other investors, contractors or anyone who knows anything about the Murfreesboro area. Or anyone who would like to just give me some sound advice it would be greatly appreciated. I am ready to make my first deal and I plan on executing this Friday or if not I will walk away. (only if I don't try, not if something else goes wrong). Seriously study hard study wrong, and I am ready.

I think Charlotte is good for all markets, it just depends on the area. It's a very large area to actually be so small. I now call it my Mini NY

So update that 57 unit was for the purchase of the non-performing loan, lol my bad but thanks to @Ryan Daigle for reading my post and offering to help me. So he looked at it and put me back in my place lol. After that I decided to start sleeping, lol if not I definitely was starting to see things.  But it was okay because when one door closes more open. I did get another one today but they were wrong this time so I had the realtor reach out and see if they bumped their heads lol. I love  my life!! #ArmyProud