All Forum Posts by: Eddie Ziv

Here is something that may help (And if you get to chuck through this lead, Please, donate the $500 to a charity, in my name.)
Chuck Norris 's brother is Arron Norris who's a director,
His e-mail address is [email protected]
His manager is Henry Holms at Greenberg, Trauig, Attorney at law. 2450 Colorado Ave. #400E Santa Monica, CA 90404
(310) 586-7700.
They may even manage Chuck himself.

Good luck

... And I'm sure there are countries you can do it very cheaply... :mrgreen:

Tom:
I was in the same boat just recently and it's very frustrating however, I have said it in many of my previous postings. The market has been shaken and rattled. People throw numbers of "Market value" and "ARV value" that in many cases are baseless, inaccurate or absolute . I buy houses in a neighborhoods where a house with a selling price of $17,000 is right next to one for sale for $85,000. What make the different? One is REO, the other is owned by private party. So I'm sure, when an appraiser looks at the comps of the past 3, 6 or nine months, it makes him dizzy.

Funny. 15-20 years ago I used to take all the presentation offers I could get my hands on (Usually 2-3 nights at a nice hotel, most expensed paid etc.) To be honest, I never considered buying them. Here is what I figured. At that time, they sold a timeshere unit for $15,000-$20,000 for usage of one week (52 weeks) If you look at it this way, they took an apartment which cost them to build about $120K-150K. They then, sold a 52nd part of it for $15-20k. That's a $1M for that apartment. This is insane profit.
If you consider buying them (And I admit -sound tempting for that price especially if you remember how much they used to pay for it) I would check what would be the on going rental in the high season and that may tell you the worthiness. I also would go for southern Florida where seasons are not much of a factor like in Southern California.

Here is my two cents. If you're looking for high cash flow return, I'd look at low income SFH. You will most likely not need a loan at all. There are areas in the country (Alabama, Mississippi, and others) where you can by a house for $12K-15K, put another $1,500-$3,000 in rehab and you can rent it to a section 8 for $500-700 depends on the size. Flip side? Yes, there is one. Don't expect too much of appreciation and expect a great deal of maintenance for the first 3-5 years. If you maintain those properties well, and you buy 10-15 of them, after 3-5 years you can have a nice chunk of money every month. Off course, if you want higher appreciation, you may have to sacrifice cash flow at least for the first 5-7 years.
See my response in the following thread.
http://www.biggerpockets.com/forums/48/topics/32614-rental-property-in-pa

P.S.
Jon Holdman - your explanation of the cash flow calculation was fantastic!

Mike is right, but only in part. Being a "California type" property owner myself , I'd say that trying to manage a property in remote control doesn't work. However, finding a good management company, although tough, is not impossible. I have a management company that handle my properties in Texas and another one in Alabama and so far so good. I don't deal with apartment building but only SFHs. either way, you have to keep your management company on a short leash.
... And by the way Mike, I never wanted to get-rich-quick. Just having comfortable retirment... :wink:

I work in a business where drugs are available if you're looking for it and you don't have to look hard. I consider myself lucky not to ever fall for it or alcohol which is to me as bad as any other illegal drug. There are people in my industry who reached the bottom but came out because they were smart enough and talented enough to do it. Drugs are symptom not the cause.

Pretty much. Quit Claim, is exactly what it means. A person can quit his or her claim (Interest) in any said property if he /she had one. Now, if their interest is null and void by the bank based on the governing laws of foreclosure then the quit claim means nothing. That's why most sales are done with Warranty deeds rather then quit claims.

I'm with Josh on this one. I have a renter with a small dog, but pit is another issue. I own a black lab mix with pit myself and I have an automatic gate to my house. My dog escaped twice because the gate was left open. Now that was my responsibility and my control, but to be responsible to someone's else actions, is a whole different ball game.

To quote the "great" Don King:
..." Only in America...!!"