All Forum Posts by: Michael Spindler

Tom Goans Your wisdom in years is something I will take to heart.

I did see that doc and many more (Netflix), nothing disturbs me more than when the government sold us out by passing the Federal Reserve Act, I believe in 1912. The theft that has transpired since, no longer really shocking. So I am trying to learn how to play and beat them at their own game. : )

Regardless of the funding sources. Is it much wiser to be in for 20% or are you strictly a cash buyer? Is 20% a weak position?

I am sure that whatever storms are ahead, you are well prepared. Please keep your posts coming in the forums. I have learned much from you in the past week.

Best wishes.

I don't want to come off as a conspiracy nut.

Recently, my financial adviser mentioned a banker customer, fresh from a Euro banking conference that bought up a large amount of silver upon his return.

While the Banking cartels weigh their options about the still looming currency issues. The possibility of a "reset" was supposedly mentioned at the conference. Of course this is 3rd hand and possibly meant for me to buy more silver. : (

Has anyone else heard of such a thing? And if so, how would such an event effect our business?

Wayne Dean Just curious if you have found anyone as of yet?

In general, is it best to work with a local CPA or are others comfortable using out of state?

Best wishes.

Jon Holdman Thank you for the clarification on that. And yes, now that you mention it, 14% is big chunk. In retrospect, I think those funds would be better served by reinvesting.

Thank you for taking the time to reply. I do appreciate it. : )

Hi,

I am leaning towards using a PM (property management co.) from day one.

Are the tax benefits (deductions) worth enough to the bottom line to offset the costs of service? Do you only realize a benefit when you get to a certain size or achieve full time status?

I want to focus on growing my portfolio rather than the tenants, that alone is worth the price, regardless. But any edge against the Fed gives me grins.

Thank you.

Shera Gregory Thank you for that. Simple and straight to the point. : )

Here is my reply and we'll see what happens. Back to the books. : )

Have a great weekend.

--- On Fri, 7/5/13, Michael Spindler wrote:

> From: Michael Spindler <*****@ymail.com>
> Subject: Re:Investment Property - 4 plex
> To: "craigslist 3867980141" <*****@sale.craigslist.org>
> Date: Friday, July 5, 2013, 5:49 PM
> Hello,
>
> I do appreciate your reply.
>
> My goal is to buy a property of this type. Can we discuss
> alternatives to a cash down payment? Your ad does
> mention a partial remodel. Perhaps we can come to a
> mutually beneficial arrangement?
>
> If you would like to discuss further, I would be more than
> happy to meet with you at the property. I am free
> Saturday through Monday, but can make arrangements if
> another time is more suitable to your schedule.
>
> Thank you and have a great day.
>
> Sincerely,
>
>
> Michael J. Spindler

In reviewing the ad: (sorry about the caps)

INVESTMENT PROPERTY: GREAT CASH FLOW FOUR PLEX - $110000 (INDEPENDENCE)
GREAT CASH FLOW :: 4-PLEX FOR SALE IN INDEPENDENCE. PARTIALLY REMODELED, 2-3 BEDROOM UNITS, 1- 2 BEDROOM AND 1- 1 BEDROOM UNIT. HAS PATIO AND COVERED PARKING.
NEAR STERLING AND WINNER ROAD
MONTHLY INCOME OF $2000
ASKING 110,000 Make offer.
Possible financing.

What I get from this is someone with a possible cash problem as the property has only been partially remodeled.

Would a reply back be along the lines of a sweat equity arrangement?

For example: "In lieu of a cash down payment, would you consider... me to complete the remodel over a 6 month period, I will cover costs and labor. In turn, you carry the loan at 6% for up to 3 years at most, until a mortgage can be obtained by me. During this period, I would collect the rents, starting from the date I begin work."

Feel free to shoot this down. : )

Steven Johnson

Your timing is impeccable. (I will definitely go to as many events as possible. It is easier to say hello to a familiar face.)

On July 4th, I found a seller of a four plex that was open to options. I sent an email, just to get an idea of what he thought were options. He just replied back... asking What can I offer as a down?

The problem is, I have no down. Is there a way to approach this? I was not at all prepared for a reply.

Thank you everyone.

--- On Fri, 7/5/13, craigslist 3867980141 <********@sale.craigslist.org> wrote:

> From: craigslist 3867980141 <********@sale.craigslist.org>
> Subject: Re:Investment Property - 4 plex
> To: ********@reply.craigslist.org
> Date: Friday, July 5, 2013, 4:06 PM
> I am open to options.
> What can you offer regarding down payment
>
> Sent from IBM Notes Traveler
>
> Michael Spindler --- Investment Property - 4
> plex ---
> From:"Michael
> Spindler"
> <********@reply.craigslist.org>To""
> <********@sale.craigslist.org>Date:Thu, Jul 4, 2013 6:56
> PMSubjectInvestment Property - 4
> plex
>
> Hello,
>
> In regard to your Craigslist posting: Investment Property -
> 4 plex
>
> You mentioned possible financing options. Can you clarify?
>
> The CAP rate is very attractive, but being new to the
> business, it will be 07/2014 before I can put down 20%.
>
> Thank you for your time, I sincerely appreciate it.
>
>
> Michael J. Spindler

Hello Dawn,

Those are excellent ideas.

I have been practicing crunching numbers for the 50% rule. I think you right, it is time to get into the field. : )

Thank you!

Hi Shera,

I do appreciate your insight and experience. Thank you.

The next monthly meeting is on July 18th, both an eternity and yet one of many before I can make the first deal. I do have my business cards ready, but am nervous as a you could possibly imagine. In my mind, they are rock stars. I expect I will be dismissed for awhile. As you say, there is a bit of a revolving door in the business and others will behave accordingly. Chin up I suppose.

The credibility is the part I am finding difficulty with. I don't want to waste a realtors time looking at properties, myself knowing full well I can't buy at this time. I respect the value of ones time and do not wish to impose upon them. Or do they expect this to some degree?

Again, thank you for your time.