All Forum Posts by: Michael Spindler

Bill Gulley

Thank you! Light at the end of the tunnel. : )

Ken Rishel, David Krulac, Bill Gulley, Paul Timmins,

I hope we did not hijack this thread from the original poster. : )

Thank you all for your input. I believe the safest course of action will be to get with my local REI club and see what the locals are doing. If there is a bigger player, in compliance, maybe I can get "in", to some degree.

If not, I may have to consider more conventional routes to investing. Too bad... I love the "Rent-A-Center" business model. : ) In a way, I am glad I am not yet ready with the funds. Get to thoroughly evaluate every option before risking a dime.

Thanks again.

I am guessing I have either very little competition in KC or this might be a bad idea. : )

Ken Rishel and Bill Gulley

Hello Gentleman,

Can the above be outsourced on a contract basis? Hiring employess or needing to learn my lawyers, bankers, CPAs jobs seems a little extreme and distracting from my primary goals. That is why we pay others for specializing. imho

I do think this may be a great marketing tool: "SAFE Act Compliant" : )

This has been an eye opener... Though dissappointing with Lonnie books already on order. : (

Thank you.

Well said. For the life of me, I could not get my Ex to understand that... Which is why she is now the "Ex".

Hello BP!

I have have it on good word that MHs might be the way to go. Researching, ordered books, reading everything "Lonnie" that I can...

I have some practical questions to ask.

Do I need to talk to MH Park mgrs prior to buying a unit? Anyone from KC wary of any parks specifically or are they usually investor friendly? Any more so than others?

I appreciate any local experience and wisdom on this.

Thank you.

Tom Goans

"-- Property values will decline.
-- People will make less money.
-- Household buying power will continue to decline as it has for many years now.
-- Purchasing and renting power will decline.

Have you ever calculated the Present Value of a loan when you increase the interest rate by just 1 percentage point?"

I completely agree. As I read your last post, Detroit is the first thing that came to mind.

My options are do nothing with the same end result. Or take a chance and risk everything to be effective in my community.

But, you have gotten me thinking, perhaps my goal of acquire and build can be mitigate with a different approach. Without having crunched the numbers, for ex: buy 3, pay off, buy 3, pay off. I will need to explore this in more detail.

Do you suppose, though still at risk, this approach would be the smarter course of action?

Regardless of what happens to the world currencies. If my properties are free and clear. I can always give them to my tenants when the worst comes down from above. : )

Sorry so short, did not get to respond to all valuable points you brought up. Offline for the next few hours. My associate at the wage slave job brought the network down, I've been called in. Not a good thing on a govt contract. : (

Thank you.

Tom Goans

I believe you hit the nail on the head.

But to be in such a position to be of service to our fellow brothers and sisters, wealth is an asset.

When I say that, I mean in the sense that when times were tough in my life and I needed a hand up. It was not my peers in the same boat, it was people and services with the means.

I believe being late to the game, experiencing the results of poor choices, gave me an immense appreciation for those that are able to help raise others up and gave me the strong desire to become such a person myself, within the community.

The way I see it, this business is a means to an end, to be of service. At every step of the way and beyond.

I do appreciate you sharing your story. It is as T. Harv Eker says and you have demonstrated, people of wealth are generous souls in the service of humankind.

Shera Gregory

I just wanted to share this with fellow newbs. Anything in this business is possible. Provided you have the resources in either money, time, or labor. One way or another, you are going to pay in some form.

The seller was kind enough to entertain a workable solution, something I did not think was going to happen. However, I had to turn this opportunity down. Though golden... I know, what was I thinking? Primarily, my resources in all 3 categories are limited.

I wish this person only the best and am grateful to him for a renewed sense of purpose, spirit and direction.

--- On Mon, 7/8/13, craigslist ********@sale.craigslist.org> wrote:

> From: craigslist ********@sale.craigslist.org>
> Subject: Re:Investment Property - 4 plex
> To: *********@reply.craigslist.org
> Date: Monday, July 8, 2013, 1:07 PM
> I can have
> available to look at today at
> your convenience.
>
> Sorry I am currently out of
> town and
> cannot be there but you can look.
>
> Three units are rented and
> unit A top
> right is vacant.
>
> Let me know what
> time.
>
> Call to discuss
> options.

Tom Goans I completely admire and respect your position. It has obviously worked very well for you.

I am currently in the unenviable position of still being a wage slave, albeit well paid, but still one check away from disaster. If I am to ever break this mold, I must take a calculated risk with leverage.

That being said, I spent a lot of time being "ticked" about having to come up with 20% down. I quickly grew out of that, by seeing the benefits and relative security offered, not just to the bank, but to my own investment. Though I wish I could go all in, it is not practical at this stage.

For example, if I chose 100%, it would take 10 years of earned income and lean living to buy 5 - $50k properties. However, if I can pyramid, reach a goal and start paying off properties by snow balling, I could achieve the level of financial freedom I desire.

I am taking your wisdom to heart and will make that snow ball happen as quickly as possible. To become free and clear.

However, my personal views of the dollar and other world currencies are very dim. (Failed FOREX trader) I see an implosion of the funny money within the coming decade or two. The extreme volatility screams of manipulation on the grandest scale. Aside from the ultra rich and others with heavy positions in metals, I think the rest of us are toast. But than again, maybe you will be able to weather any storm, being free and clear. : ) And while the clock is ticking, I feel like I am in a race to get to your position, before it is too late.

May I ask (and if you want to go offline that is fine), what path did you need to take; goals, strategies, use of leverage until no longer needed, etc, to get to where you are now? Personally, I would love to go to Marco's site (once a week or more), pick a property and say "I will take that one, today." Free and clear.

Best wishes to you and yours and have a great week.