All Forum Posts by: Terry Owens

@Jonathan Twombly, @Matt R.  Maybe we should create state laws that require buyers of larger properties to present an industry-adopted plan of action for property maintenance and management at closing.  Those of us who have educated ourselves in how to analyze properties properly do that as part of our analysis.  I don't like control, but the brokers here don't care because it increases their fee. :)

@Jonathan Twombly  I'd like to address what you said earlier in this thread about being careful about knowing your market.  I live in North Alabama and have been trying to by property (MFD) here at a reasonable, cash flowing, price.  I get that we may be at the top of the bubble.  But I am constantly outbid by someone from "California" with a 10-31 to exchange.  I don't begrudge that, but they buy at prices that can't possibly be profitable.  Soon afterwards, the property falls way into disrepair because they don't have the funds/reserves to maintain the property or to pay a descent property manager to get the right tenant.  This creates slums where, in the past, there were none.  Sellers in the area actually ask agents to find a buyer from California...they know they'll get a ridiculous price.

In Alabama you have to have 60 hours and pass the exam.  Just researched it because I'm going to get my liscense.  $329 for the 60 hours and a prep class.

Has anyone had dealings with a company that places disaster victims in temporary housing?  The company called THD (

http://www.temporaryhousingdirectory.com/services/temporary-housing/) answered one of my rental adds from Hotpads...offering me more than I was asking...for a fire victim family.  I called the 1 800 number and was told they place victims in housing and find re-location housing for  company new hires. 

Derrick, I find I get what I focus on...if you think you're being treated differently, that's what you'll find.  If you expect otherwise, that is also what you will get.  

@James Masotti

Ha!  Love the ideas...maybe I'll find a rich husband, too :)  Hmmm, I'm off to get a golf lesson!

@John Thedford@James Masotti

Thank you both for your comments...without know really weathly people, where would I go to find an arrangement like Kenneth mentioned?  I have a bank interested in knowing more about this, but as soon as they find out I don't have enough for the down payment, it's all over.

@John Thedford, @Kenneth Garrett

So, is it unheard of to find private/hard money for a buy and hold?  I have a great deal on a commercial property, but can't come up with all of the down payment.  I would like to pay a percentage (annual) and then pay the principal back upon repositioning in 7 years.  I think 10% is a lot to pay over that long of a term.

@Tony Roddenberry  I like Audible or Kindle.  I buy the books that have whispersinc through amazon and then listen to them through those apps while I drive, etc.

@Chris Tracy

Actually, I'd like to buy and hold this one since it cash flows so nicely.  It doesn't need any work and it's already occupied.