All Forum Posts by: Richard Dunlop

 NO! most are tenants!

Y 

 Are you building the credit of the wife of your business partner? To eventually invest in CA? With probably no cash flow?

By all means build/repair your/her credit keeping in mind put good stuff on to age WHILE you are working to remove/age off the bad stuff.

But probably look also to start small investments that make money in other markets (out of California )also that can help with your long term goals.

Is he current on mortgage?

Buy it on short sale

 The tenant had no idea it was for sale(foreclosure). She is trying to buy it from me and she has no idea what I paid for it.

The neighborhood is C/C- The much larger house next door is currently undergoing a full gut and remodel probably $45,000-$50,000. Would I live there yes but not my first choice.  I personally know a multi-millionaire lawyer that lives about 3 blocks from there. 

Hope that helps.

If there is some benefit to going at a snail's pace I fail to see it!

 @Adrian  Easterling is only new to BP but certainly not new to investing and has already achieved more than most here will accomplish in their lifetimes. (2 Commercial medical buildings) 

So the $10,000,000.00 in 10 years seems an appropriate goal!

I started with $150 and had $700,000 in equity five years later. This is AFTER a bicycle accident that prevented me from moving to the area I had already bought 5 properties. This is AFTER putting $44,000 of medical bills on my credit cards. This is AFTER I quit going to the doctors because I had no more money. This is AFTER I realized I would have constant pain for the rest of my life.

Then I found BP and some of the do nothing naysayers laughed at what I had already done and lectured me on the impossibly of achieving anything.

$10,000,000.00 in 10 years why are you laughing? 

I could have done it in 3-4 if at anytime I had had proper funding.

There are people here that you could mockingly tell to make their first dime in REI before setting a worthwhile goal but I fail to see the benefit to anyone of doing that!

There are people here that you can tell be careful not to lose money.

But @Adrian Easterling doesn't appear to need your "help"

 I'd stay clear of that one.  To remove the tanks and clean the property, is there any limit to the possible risk?

The suburbs of Detroit $150,000 will buy you a pretty nice house.

Since you have short term plans to move I would probably put it into a four unit property that pays for itself.

Welcome

 I've given one specific example several times I've shown the deed and rent payment to multiple people by PM on this board. Non of them have come back and admitted they saw proof. But they do stop ridiculing my statements. 

I bought a 2 bd house all in for $806. It had a tenant in it for more than 3 years when I bought it; I've not yet spent anything on it in the 5 months I've owned it. It rents for $650 per month and the tenant pays there own utilities. 

Maybe say what areas you are interested in?