All Forum Posts by: Michal Rooney

Money itself is only a means. I am already on course to reach predefined goals. It’s not the money that determines my plans it’s a tool I use to get there faster. My definition of ambition is doing everything I do now towards those goals – to keep moving forward – to be ready to act when inevitably someone or something goes right.
You may wonder what I am doing now to reach those goals; I formed a non-profit. It’s called Innovation Foundation – it is a means of advancing arts and technology (or more accurately providing better avenues of education to their students). We plan to build a university and by employing our talent pool to conduct research we will get extra mileage for our supporters. We will provide a smarter workforce and a future with better options borne of that research.

If I had 220 million now :
Knowledge is a resource that can benefit more people than private wealth. If I had 220 million I would implement it as seed money for funding research. Specifically terraforming. According to Stephen Hawkings we could build intergalactic starships(and extensively close range colonizers) at this point in time. The problem is nobody would fund it because there are little in ways of sure returns. To the individual investor that is, to a country or the world at large there would be. It would take many more investors worldwide, but 220 million would be a start. It would certainly put a spin on Mark Twain’s jest: “Buy land they’re not making it anymore.â€

He wants to renovate. If you don't want this to look bad you have to plan to make it look good. Find an assisted living facility or non-profit that should be willing to help them. There's the drop off. You would want to set this up before calling in anyone to transport. That way you're on TV for being the caring landlord if the newshole is great enough that it gets on the news.

Not a deal killer in my area. But then again everyone does that here it may be different depending on you're buyers. If you are selling based on the recorded rooms to me it's just a bonus really. I've seen many houses listed with them and sell maybe you should check your area for houses with extra rooms. If they seem to be selling (based on days on market) just as well as the others then it's not a problem.

That happened here over the holidays as well. It turned out the guy they subleted to had no idea how to conserve water an just left a hose running in the back garden. Perhaps they let somebody else stay there while they were gone? Otherwise I have no idea.

That may be more of a personal goals thing. I would think you should base it on what you feel comfortable with - if it's too much just step back scale it down and and then keep doing it until you find you can do more. Or until you find how much effort you want to put into it. You may want to get good at that and then consider other methods of expanding, one at a time that is.

How could I structure this? would it be a job for JV subject to or lease option?

I have a property assessed at 2.8 million I want to develop.Please note: This is commercial land.

I offer 1.6. I agree to purchase at this price only if seller will lend 1.2 million in private money after closing.

I pay seller (read title) 1.6 million.
We close

He loans me 1.2 million @ 8% to be paid in 5 years (I want this secured by the property what do I use for this - deed of trust?)

This will be used to develop phase 1 of development with a margin of safety.

If this is not the way to structure this what would be?

I will pay the seller more than their asking price to motivate doing things creatively. The seller wants the property back because it would be cashflowing vs. undeveloped. I will be using a realestate savvy lawyer to run this by I want to know the structure so I don’t waste time / sanity.

I mean this in a convivial tone - You might start by reading through the forums. If the real-estate jargon is still foggy you should really make an effort to understand them before you jump in.I hazard the guess that this has been addressed before and thus the lack of responses. That said it's worth researching because you'll develop a sense of confidence in the process at least to the point where you don't have to start with "dummy newbie". Chances are you will need it to see your deals through.

From what I understand wholesalers invest in a property to sell to another investor so yes, that would make them middle men. Like brokers but without the licensing requirement. Are you looking for someone who just sells leads? That's a birddog. Researching these terms shouldn't prove difficult.

No apologies needed these things happen. Thank you for informing us.

I did not mean to offend I was just giving an alternative. And there is some shady stuff on slickdeals as well. It's up to you to use them or not. But they are really good at teaching you how to get the most out of your coupons.

May I suggest slickdeals.net ? Set an alert for the actual thing you're looking for (paint, a specific tool) and if it comes up be ready to pounce on it.
They also have a lot of good strategies for getting cards that aren't illegal.