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  1. K

    Commercial lessons learned

    REAL ESTATE 
    Proceed with more caution. Try to evaluate more on what kind of business the tenant is doing in it (and if it's profitable - so that they will work out for you), look at the lease that is in place carefully. Consider outside influences, like if it's properly zoned.
  2. K

    no money down + not using investors credit?

    Not necessarily, when someone wants out they will grab at anyone. Just try to see what they are seeing before you jump.
  3. K

    Finding out how much someone paid

    REAL ESTATE 
    From what I think I read, you mean that the present owners have owner financing with their prevous owners. If you are trying to find out how much is owed it will be tougher. Hopefully the loan (the mortgage) was recorded. It probably was, unless it's really screwed up. You can research this at...
  4. K

    Please tell us about your ride(s)...

    OFF-TOPIC CHAT 
    Here is one of mine.
  5. K

    Question for SteveO and other value play investors

    REAL ESTATE 
    It is much more costly (at least at the present here) to build one instead of buying one. On the flip side, the maintenace is lower on new buildings. I have seen many build, run it for 5 years & then sell it, then do it again. One advantage is changing layouts/designs to what people are looking...
  6. K

    Question for SteveO and other value play investors

    REAL ESTATE 
    Yes I do. I haven't sold many through the years. It's like driving a Model T on a long distance drive every day! When they get this old, you will be replacing gas lines, water lines, rewiring etc. The flip side is they are going condos on a regular basis in my area. My next step is to sell off a...
  7. K

    Question for SteveO and other value play investors

    REAL ESTATE 
    I was slower. It probably took me 5 years to make anything. I worked a couple of jobs during that, and lived pretty cheap. Looking back, the problem was the type of buildings that I picked. Almost everyone was built around 1900. The amount of repairs ate everything. I also bought several major...
  8. K

    The Kiyosaki Crash

    OFF-TOPIC 
    I think more people are blaming Greenspan than RK.
  9. K

    Is stocks a fastlane investment vehicle?

    INVESTING 
    It's a nice part of the puzzle, but I have yet to meet someone that started with next to nothing, invested it, traded, and really got rich. I have made some money, and have friends that have come out really well, but they had a pile to invest in the first place. Don't get me wrong, starting a...
  10. K

    What to do while the next deal is here?

    That's really good advice Randall. I will add a quick one that was told to me by a friend that owns a trucking company, "no deal is better than a bad deal". That has stuck in my head for years!
  11. K

    Apartment Financing

    REAL ESTATE 
    Yes that's correct Wolfgang, at one time I had three properties tied to one that was paid for. I had all of them removed several years later without refinancing once I had substantially more equity in each. I used the same property as collaterial for my current project, a 24 unit condo building...
  12. K

    Apartment Financing

    REAL ESTATE 
    For some reason I never read about tieing the properties together in any of the books. I sold a building to a well off real estate agent, and she mentioned it. It was like a light bulb going off. Just make sure you still cash flow.
  13. K

    Help with idea for a marketing class project

    IDEA MARKETING 
    Your welcome! Jesseo is correct, it would not be much different than what is used on a rental application. You can access credit, criminal, and evictions at this point, figure out how to verify college degrees online, and maybe past employers through tax records, and there is still military...
  14. K

    Help with idea for a marketing class project

    IDEA MARKETING 
    To go a little further on it, you could name it EmployeeFax, kinda like carfax.
  15. K

    Help with idea for a marketing class project

    IDEA MARKETING 
    Maybe some kind of service that does background checks on future employees? So many people fudge their resumes, have checkered pasts, criminal, etc that a service that was easy & quick might be a winner.
  16. K

    Apartment Financing

    REAL ESTATE 
    Wolfgang I usally tie the next propert to an existing property. When I first started, I about killed myself coming up with the 20-25% for the next property. Of course you want to make sure it will work, each of my properties will stand on it's own, and several are free & clear. The property...
  17. K

    They're Trying To Take Your Home Exclusion Away!

    They won't take the 250/500k part out. It will never pass, and anyone that can vote won't support someone who pushes it.
  18. K

    Apartment Financing

    REAL ESTATE 
    My buildings are financed through a local bank. It's easy to get the loan, and I have a great working relationship. I can buy pretty much whatever building I pick with them, they will tie a new property to an old one. I haven't put up any money down on one for qiute some time. The downside is I...
  19. K

    Goal setting.

    HOT! 
    Great post. I have been writing down goals for years. I save them, and look at them from time to time. It's really neat to see the direction, and accomplishment.
  20. K

    Hakrjak joins the fray...

    Welcome, It's good to see more real estate people.

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