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All Forum Posts by: Account Closed

Account Closed has started 5 posts and replied 571 times.

Post: Failed Asset Protection: A Case Study Provided by Legally Mine

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

What new here?

Post: Seeking advice on a pedestal sink "trim board" idea

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

I don't like green but for some reason I really like this tile with the white fixtures and white floor tile. From the looks of things you might need about 6 tiles to partially cover the hole and the sink will cover the rest. You have an extra 6 tiles behind the toilet tank if you are careful.

Post: Caribbean monthly rental

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

I absolutely despise the Winter. I vowed to myself a few years ago that when the kids left for college that I would spend the Winter somewhere it was warm. I am considering finding a small house or condo near the beach somewhere in the Caribbean. I don't need 5 star but I don't want to stay in a dump or somewhere unsafe. Does anyone know where you can rent something like that for 2000-2500 a month for January and February?

Post: 11 acre water-front land. Do I have a deal or walk away????

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

I will give you something to think about that will send a cold shiver up your spine. I live in an area with several large lakes. The largest of these lakes has several marinas and residential communities. It is very popular and crowded in the summer months. In the winter months the lakes are drawn down and in some areas are little more than small rivers. TVA built these lakes in the years right after WW2 and they have been enjoyed every year until 2 years ago. The largest lake's dam had an erosion issue under it and the TVA decided that the lake levels would remain at winter levels or even lower until repairs were completed. These repairs are projected to take up to SEVEN years to complete! The marina business in the lake has been destroyed and people have gone broke as a result. No one ever expected this a few years ago but there are no guarantees.

Post: Checking your credit with different sources.

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

Credit Karma is 100% garbage. The best thing about CCT is that you can cancel before the 7 days is up and then a few days later sign up again for $1.

Post: Replace Flooring With Carpet or Lament?

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

I think that after the fact you will regret using lament

Post: $21,000 foundation There has to be a better way to get this done!

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

I am not real smart and am not a structural engineer but I have managed to build things for 25 years and have yet to have anything collapse, lean, crack or excessively settle. Considering that this house is still standing after 80 Years I assume that the pier foundation wasn't grossly inadequate. Being the ignorant person that I am, I would merely jack the house up maybe a quarter of an inch at each pier location and then dig a hole maybe a foot deep and about 14" square then lower the pier back down and repeat. About 2 bags of concrete per pier should do it. That's maybe $8 a pier. 2 guys three days max labor. No wonder I have never been asked to be on This Old House. Lol

Post: How is this for first deal?

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

Am I reading correctly that you are willing to invest 60k in order to cash flow $420 a year? Please tell me that I am readin this incorrectly. A bank CD has a better return with FDIC insurance. Maybe the 420 explains it.

Post: How to become a real estate developer?

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

I agree that college isn't for everyone and too many people go to college merely because of parental pressure and because the just don't want to face the real world yet. What type of development interests you? Residential, commercial? Do you personally know any developers? Do you have any prospects for financial backing? Do you have the ability to work well with architects, engineers, bankers, investors, zoning and planning? I am far from one to push higher education but for a young person without access to a large amount of cash or contacts, a degree in business, engineering or architecture adds to your knowledge base and gives you a bit of credence and polish when you are lacking in other areas. 

Post: How to become a real estate developer?

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

I don't understand the comment that you don't "qualify for the education". As a developer, you will also hear that you don't qualify for a loan. How would you get past that? Tell us about yourself and the attributes that you have that would make you a successful investor.