All Forum Posts by: Tom Noonan

I went to the free one. Was mostly a sales pitch for the $500 one. Plenty of people fell for it there. I heard that the $500 one was just a sales pitch for one that was going to be several thousand.

I wonder how many people did anything after going to the $500 one. I would guess only a few percent.

I agree, have your attorney help you draft something up.

I see him and his teachings as more in the category of "Motivational" rather than strategies and how-to's.

It really depends on what deductions you are looking to make and what your current tax bracket is...

I would have to agree with Wheatie on this one.

If you have 4-year degree:

Look for financial analyst positions for real estate companies like prudential, loan officer positions, or become a real estate agent.

If you don't, it will be a little harder to get into the first 2.

I heard someone once say: "What is the worst that could happen?"

Try to envision everything that would happen in a worst-case scenario. Is it really going to kill you?

Lets say you own one house (flat out, no mortgage) for 100k that rents for 1500/month, and expenses are 45% of gross rental income, 5% vacancy... Your cash flow per year will be $9,405.00

Lets say you sell that 100k house, and use that 100k as a down payment for a $1,000,000 (10x as much) property that rents for $15,000 per month (10x as much), same 45% expenses and 5% vacancy, and you take out a mortgage at 7% for 900k, your cash flow will be $21,522.24 per year.

Also, if the price of housing goes up 5% in the area, your 100k property will now be worth 105k - a $5,000 increase, however your $1m property will appreaciate $50,000.

If you say "NO", the question becomes "what is he supposed to do? Move?" If you live in an overpriced area (I live in California), it is simply impossible to find anything close to a cash-flow property locally, unless, of course, you move.

So for FSJR9, if he still wants to invest in real estate, he can either move or make investing out of state work for him.

Also, someone mentioned that rentals being destroyed is a huge deal. What makes you think that your rental won't be destroyed if it is next door and you are managing it yourself?

FSJR9 - Stay positive and try to get recommendations for Property Managers and inspectors in the area.

I am going to find creative ways to generate seed capital for purchasing and renting apartment buildings.