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6 March 2018 | 33 replies
LOL.. and those folks don't post on BP.. on BP its all blue sky rentals are the way to financial freedom quit your day job.. live the life you deserve etc etc.. well for some for sure.. for many NOPE.. they are like why did I do that.. and they exit no matter the loss.now this is more prevelant in the lower value asset markets.. not all markets are like this.But I look at when I started hard money lending in 01 for turn key and I started in Detroit.. the homes there appraised at that time for 120 to 140 each rented for what they rent for today 800 to 900 in those days the .05% rule was fine.. we loan 80k as a HML .. well those homes tanked as you probably know many went down to less than 10k in value.. thankfully the 200 plus I did there I got refinanced out of them all. but you know long term lender lost their lunch and so did most of the investors in those days.I am not prediciting another major meltdown.. but even break even is not a good position to be in with rental properties in my humble opinion the risk/reward and hassle factor just weights on you.. but I know I am in the VAST minority in my thinking.So my thought is you really need to get these things paid for and keep them forever.. but life happens and I would say 80% of people that have that thought process going in never make it past about 7 or 8 years.
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16 August 2020 | 62 replies
This is such an outstanding and detailed example of how to create value and generate cash while improving your own asset-truly humbling.
16 March 2018 | 6 replies
My humble "three-year experience" advise to you is really just get out there.
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28 August 2018 | 59 replies
He is a humble guy.
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29 April 2018 | 6 replies
Not sure what you mean by too early.I’d still buy pre-foreclosure if a seller contacted me; we just don’t target market for those anymore.what I mean is 99.5% of people are still in major denial.. and so trying to spend a ton of time dealing with them at the substitute trustee stage will be fruitless.people in this situation in my humble experience only get serious the day before they lose it or 2 days before.we never even contacted them until 5 days before auction.. and the reason we KILLED it is we had little competition.. most need loans to buy we did not.. most rely on attorney or title company for the transfer we did not we did it ourself..
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30 April 2018 | 10 replies
I think it sounds more humble than house flipper or real estate investor.
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17 May 2018 | 25 replies
As far as donating while alive versus after death, some people are humble.
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10 May 2018 | 9 replies
Best investor meetup around in my humble opinion.
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11 May 2018 | 4 replies
I enjoy BP i dont have anyone in my life that does real estate investing its humbling to know that i can calculate a deal, post it,and get recommendations and different alternatives.
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24 March 2018 | 12 replies
In my humble opinion it's best just to move on to the next one.