All Forum Posts by: Todd Mims

You pay them more than whatever else they're traditionally investments may be, which is usually around 4%, if you can double that with 8% and afford the points a "private" money investor should be more that happy these days.

Jon brings up an excellent point about assumption vs sub2...like he said assumption is the ultra safe way without worrying about the loan be called due (eventhough it most likely won't be called in a sub 2 either), but who wants the burden of qualifiying, you can just do that yourself. So thats the beauty of sub2. Just think about taking over someones car payment, that can be done in the housing world (cut out the middle men). Obviously, it has to make sense, you want good terms and someone "not" near or under water. I know in Washington not paying that mortgage on a sub2 comes with severe consequences, which it should as someone is merely extending their entire credit ability to you, so it shouldn't be taken lightly and don't bite the hand that feeds you.

Welcome, Nina, Good luck in your endeavors!!

Welcome Patrick,
You are in the right place. Answers will be at your hand in short notice to almost any question you can think of. This is the R/E place to be.

Christie,
thanks for the info, low taxes are a good thing...and as long as you can pull in pretty good rents sounds good. I will try to get a hold of you soon. Also, like I was saying how is employment out there, jobs...coming or going are they?.. Anyone else with info is welcome to comment further, also.

Anyone used Brad Wozny's Six Figure Syndication System. Don't know why I looked into it, but I did probably because I really wanted to see what he had to say about the subject. However, it's not really true syndication at all. He just talks about getting buyer, seller and financier together and calls it syndication...got it, its syndication to some extent, but he mentions nothing about SEC, state SEC laws, Reg D, Rules 504-506 and how much it really cost to become a syndicator. He seems to really just talk about wholesaling, but it was good marketing, but "nothing" I didn't know. Any other experiences good or bad with this system?

Can anyone expound on what's going on in Indianapolis and if this is a good place to look at buying property. There seems to be a little buzz around this place as there are a lot of postings on here touting the place as having many "cash cows". The prices are probably in line with many large midwest cities, which are very reasonable compared to my Washington St. What are the taxes like? So what's the economic/business situation, new development, education looking like? Anyone familiar with Indy want to share info on if this could be a place to seek investment?

wow, you are in a tight situation. With that said you are in a pretty good situation it seems having a good sized portfolio at your age and being in Canada where the economic situation is slightly different from ours.

I am a firm believer of doing what you want to do, but having a family doesn't always allow you to do what "you" want to do. I am in a situation where I dont worry about that with no kids or spouse. So I "do" what I want at this point. I'd say giving your situation with the right amount of savings, your wife supports (utmost important and very motivating) try doing the fix and flip (rehabbing) side as money and experience will come.

That there is the best of both worlds. Go for your gun and have lots of "faith" as us entrepreneurs are good at. I think you could always fall back on your career to if need be.

Oh it happens all the time, presumably most of the time out of desperation.

You do hear of now being an such a phenomenal time to buy R/E. I believe their is a some half truth to that as prices are very low, however, as you say Mike I would tread water lightly, focus on specific areas, and buy at super deep discounts. It is funny how so many do claim that, but only if you can and are willing to hold long term, do I see R/E being the vehicle of choice.