All Forum Posts by: Simcha Davidman

For all you Chase lovers out there, don't forget that all the points pool.  So if you have a Freedom card and earn 5% back on the quarterly categories and then pool it with your Sapphire Reserve card, you're get a travel redemption worth 7.5%, which is pretty awesome.  And you can find the "right" categories with each card and take advantage.  But it's too much work for some people - you gotta know yourself.

I used to have the same mindset as  @JD Martin until a family member flew him and 4 others half way around the world for like $300 in fees by accumulating points through the sign up bonuses.  That's where the real advantage is.

It's already been said, rather well, but I will echo @Amy Beth and @Rick Pozos - you need to do, or have someone do, a serious personal finance audit.  Everyone has their personal situations, but if you're both RNs, there should be more than enough money coming.

Real estate investing is great, if you know what you're doing.  But be careful, and find people who know what they're doing.

Back in 2007-08, every one and their grandma was getting into real estate, and really savvy investors knew at that time that it was all hype and going to end badly.  I was thinking this recently over the last few weeks, how everyone I know wants to get into real estate now.  And then it finally dawned on me - wait a second, so do I...

Anyways, I'm still trying, but buy smart.  If you cannot buy smart, don't buy.  Remember that.

Best of luck!

@Account Closed thanks for your reply!  I generally take that position, too.

Is your JV agreement for a single investment, or is it for the entirety of your relationship?

I posted another thread that got pushed down, so if you don't mind, I'll ask you here - any advice on DD about this guy?  We met here on BP and we spoke for about 45 min.  I'm going to travel to him in the next couple of weeks for an in person meeting.  What specific things should I look for, both positive and negative?  And any other feedback on this plan you can give me would be greatly appreciated!

I am looking to partner with someone out of state from me.  I am bringing the (majority of?) capital and he will be boots on the ground/management.  Additionally, I see this as having potential to be a larger relationship, in which I raise capital from private investors and bring them to him.

Can I please have your recommendations/comments about different ways to structure this, both in the short term and long term.

Thank you in advance!

I recently spoke with someone with whom I am considering partnering up, because I am looking to invest out of state, and this person lives in that area.  I met him here on BP about a week ago, we had a nice 45 minute conversation, and I am going to travel to his location within the next couple of weeks to meet him in person.  I also see this as an opportunity to build a long term relationship, in which I can raise capital and he can find/manage the properties.

However, how do I come to trust this person?  What should I look for, either good signs or red flags?  What does my due diligence look like before we formally join together?

(If you're reading this, potential partner, no hard feelings :) )

Thank you in advance!

@George Despotopoulos Thanks for your input.  So this all started the end of September or beginning of October, when I was talking with an agent.  I told him that I wanted an investment.  His impression from my financial situation was that obtaining financing for an investment would be more difficult, and he works with a lot of people who did what was discussed above.  I told him that I was not comfortable with that, and have not spoken to him since.  But, I wanted to know if my reserved/conservative stance was warranted, or was I unnecessarily leaving money on the table.  The answer from this thread is clear :)

Thanks again.

You can try @Jay Guttmann He's based in Hackensack, but I think he's very accommodating.

What was the end of the story?  I'm very curious.  Thanks.

@Rebecca LeBrun you do not state whether the issue is the down payment, so a 3.5% down loan may not address your concerns at all.

The cost of living is high, but the theory goes that it is high because the people make more money to support it, e.g. rents are commensurately high.  As Robert said, run your numbers.  If they work out, they work out - it doesn't inherently matter what you pay if you're realizing the returns you want.  Just be careful that your assumptions are as accurate as possible.

Good luck!

@Syman Hay Welcome.  I really like your area, but I am not invested there.  Search the keywords for your city and easton, and you'll find other investors over there and a couple of forum threads that might help you meet up with some people.

Good luck!