., @Alex Ng, @Vince Marcisso, @Michael S., @Linda Labbe, @Parker Dresser, @Rob Milliken, @Tim McClary:do any of y'all know anything about Milo, Maine?

@Albert Ng what's wrong with expensive contractors?

Albert Ng, you're kidding, right?

Welcome and great to have you in the community @Damon Ng

I gotta tell ya', this was really a funny, funny, l  o  o  o  n  g  explanation and proof as well.You hit on all the wrong ways to invest in RE as reasons why you can't make money in RE, and never touched on the right ways to do REI...I'm guessing because you are unfamiliar with any of them.  

@Rich Ng That is rough, Rich!  

I say 5 of 7 of his properties are duplexes an he purchased them with the tenants already in place..

A: I worked really f****ng hard and read a lot of books, and spent a lot of time asking people who had been successful before I was. 

@James Ng , it used to be you could suggest he buy with seller financing, but with the uncertainty of the new Dodd Frank act it is difficult for someone to finance a home that the buyer intends to live in.

I often see impossible pro-forma numbers, that manipulate this reality.5 miles can be a world of difference as far as potential tenant pool, too.electric can vary depending how close to the beach, it can be 10-15 degrees cooler in the summer when you are 2-3 miles or less from the beach 5-10 degrees cooler 3-10 miles from beach, and maximum hot summer further inland... so air conditioning use can vary  depending on this.... also, if the heat is electric vs natural gas and the stove too, since NG is much cheaper than electric.that's my 1.5 cents