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  1. G_Alexander

    STOP Paying Rent: Live For Free

    GOLD! REAL ESTATE 
    That's the secret sauce, boss :cool: You get to depreciate the value of the building (non-inclusive of the land) over a 27.5 year period. Ask your tax guy (even if that means H&R block or whatever) how to treat the fact that you live in 1/3 or 1/4 of the building. You can't depreciate your own...
  2. G_Alexander

    STOP Paying Rent: Live For Free

    GOLD! REAL ESTATE 
    Thanks for the kind words PeeVee. Hope the thread aides you in your search! Yes, after pre-approval I jumped right into looking for properties. I would try a few different brokers, but try to pick a couple younger ones (along with older ones) who are HUNGRY (first few years of their career) and...
  3. G_Alexander

    STOP Paying Rent: Live For Free

    GOLD! REAL ESTATE 
    Didn't need your approval...but:
  4. G_Alexander

    STOP Paying Rent: Live For Free

    GOLD! REAL ESTATE 
    There is no incentive that is close to this good where you don't have to occupy the home. And don't try to do an FHA without moving it, it's illegal and I believe it is a felony. The only other way to use this little amount of equity is to find a seller financing deal where you can put down...
  5. G_Alexander

    STOP Paying Rent: Live For Free

    GOLD! REAL ESTATE 
    I should have mentioned (I have in other threads). I live in the building, but I don't manage anything. I don't have time to collect rents, unclog toilets and sinks or chase tenants. That is part of the 50% expenses I mentioned above (8% to property manager and lease up fees). I didn't want to...
  6. G_Alexander

    STOP Paying Rent: Live For Free

    GOLD! REAL ESTATE 
    Hey @biggeemac, In short, and without getting into gray areas, yes. The program is there to let you use as little equity as possible to get into your first property. That being said...if you have one FHA property and want to buy a second FHA property, there are a few ways you can pickup...
  7. G_Alexander

    STOP Paying Rent: Live For Free

    GOLD! REAL ESTATE 
    All I got from this was "Blah blah blah business business business. Laywer,accountant, development, hiring".....non-sophisticated jargon. No real content. Doesn't sound like you're doing much. Hiring accounts and lawyers in no way represents or relates to business success. You sound like a...
  8. G_Alexander

    STOP Paying Rent: Live For Free

    GOLD! REAL ESTATE 
    We don't care about YOU. We care about everyone. When you start thinking that way, you'll be off to your own Fastlane. And if it will get you out of here...my ROI (stupid metric to measure an investment anyway) on my first 3-flat was 36.76% or $136,000k in 5 months. Slow lane enough for you?
  9. G_Alexander

    STOP Paying Rent: Live For Free

    GOLD! REAL ESTATE 
    Man, @RichKid, I feel ya. Thanks bro. Luckily...you know I'm smarter than that and I always keep an Ace in the hole. Had his old post opened in another tab and reflected my response above ;)
  10. G_Alexander

    STOP Paying Rent: Live For Free

    GOLD! REAL ESTATE 
    What works for one doesn't work for all. Hotels might fit your style. I don't know of many members here who have reached out asking for information on hotel living, but feel free to post your own guide on it (sarcasm...in case you missed it). I am not pitching the real estate Fastlane in this...
  11. G_Alexander

    STOP Paying Rent: Live For Free

    GOLD! REAL ESTATE 
    Fastlane brothers and sisters, I am here to show you the light should you so accept to see it. I’d like to offer some advice from my experiences and to share the wealth of living rent free. This is not a revolutionary topic, and I am not a revolutionary human. Living rent free has been done by...
  12. G_Alexander

    Why You Can Make a Lot of Money Overseas

    EXECUTION 
    Great post Jackie. I am sure lots of entrepreneurs here have tossed around the idea of taking a model from one locale and replicating it in another. There are hundreds of examples of this. Two quick ones I can think of are basically Yelp! clones: GLIO: Yelp of Brazil...
  13. G_Alexander

    Equity on homes ......

    REAL ESTATE 
    Ditto on what @SteveO said. Alright, alright, I'll give you one breadcrumb... If you're worried about closing costs and commissions eroding your profits, you are investing in the wrong properties my friend.
  14. G_Alexander

    zend***phin, who are you?

    HOT! 
    Why should Runum tell you anything? What makes you special and why should we care about you? (Where is your credibility?) You think Z posting a picture of a stable full of Lamborghinis and his bank statements would make him any more credible? You my friend, are event driven.
  15. G_Alexander

    Apartment Investing

    REAL ESTATE 
    @SteveO Have you ever purchased a building that was fully vacant and in need of rehab? This scenario does not allow the use of traditional bank leverage on the front-end (due to the obvious lack of cash flow generation at acquisition) but is an attractive scenario if you have the equity...
  16. G_Alexander

    Please Congratulate the Newest Fastlane Mod!

    Respect. :cool:
  17. G_Alexander

    My 1000th Post.. LOSE THE JOB, NOW!!!

    GOLD! MINDSET 
    Hey Drilonnn, how about you stop waiting to be handed the secret sauce of life? The secret sauce is already in everyone's fridge. It is hidden behind several boxes of leftovers and unsavory foods. You may not want to wade through these "tough-to-eat" items, but you need to eat them (the process)...
  18. G_Alexander

    What are your chances of succeeding with these types of investments?

    INVESTING 
    Scott... Please read The Millionaire Fastlane and then get back to us. You will find that the question you are asking here is pretty useless until your liquid net worth is >~$7mm. That is when true market passivity can occur through munis, some high-yield instruments and of course selected...
  19. G_Alexander

    Mobile Home Parks?

    REAL ESTATE 
    KC, Have you shifted your park ownership style, in regards to keeping occupancy stable, to a lease to own model? Chattel financing has all but dried up for the homeowners in the parks. Dodd-Frank placed even more stringent lending standards on originating seller-financed loans (the SAFE Act...
  20. G_Alexander

    How to Outsource your App: My 5 Step Guide

    WEB/DIGITAL 
    $$ for you Walker. Thanks for the detailed writeup, and way to take action. Keep it up.

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