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  1. MonTexan

    Judge screws me on eviction of contract for deed

    REAL ESTATE 
    Sure enough....it seems that quote has been attributed to numerous folks. Evidently the first time I saw it, it was attributed to Benjamin. Since he is on my favorite bill, I'll give him the credit. :patriot:
  2. MonTexan

    Judge screws me on eviction of contract for deed

    REAL ESTATE 
    Very true Russ! There are plenty of "professional tenants" out there. Got to be sure you do things by-the-book and carry a nice umbrella policy. Can't let these things scare you off though...the real estate game is just too much fun!
  3. MonTexan

    PROGRESS THREAD: (MonTexan) New Venture – e Marketing

    MARKETING 
    Well, it's about time for an update. I have been a bit derailed by a few different things the primary one being my health. There have been several threads here on the forum about the trade-offs of working hard and getting rich vs. staying focused on your health. To this point, I've been too...
  4. MonTexan

    Judge screws me on eviction of contract for deed

    REAL ESTATE 
    What a dick. I send a certified letter AND have my guy tape a copy to their front door. Take pictures if necessary.
  5. MonTexan

    Does this RE idea make sense?

    IDEA 
    Joey, I think you're onto a great plan...buying rental property that CASH FLOWS! $350k houses are pretty tough to cash flow in most markets, while $60k is much more doable. A good rule of thumb is to be sure the mortgage payment is LESS THAN 50% of the monthly rent. This should allow for 3rd...
  6. MonTexan

    Help Me Figure This Out Please

    OFF-TOPIC 
    I'll entertain some quick numbers for you: *Lamborghini - $320k financed @ 7% for 60 = $76,032/yr *Ferrari = $66,528/yr *Audi = $47,520/yr *$3M house - $2.4M financed @ 6.5% for 30 yrs = $185,040/yr *Insurance on Cars & house = $65,000/yr?? *$15K/month for charities = $180,000/yr...
  7. MonTexan

    WF call today

    OFF-TOPIC 
    Maybe there's light at the end of the investment real estate lending market tunnel after all!
  8. MonTexan

    Help me brainstorm!

    WEB/DIGITAL 
    Here's another idea I've been thinking a bit about lately...target a specific niche and build your own website which starts getting leads then lease it to one of the companies you've identified who needs marketing help. Say you wanted to target mortgage brokers (businesses with higher profit...
  9. MonTexan

    5 Unit Deal

    REAL ESTATE 
    Great point Randall! What you say is so true. I've got a 6 unit that requires plenty of baby-sitting! Glad that I out-sourced those duties long ago...
  10. MonTexan

    5 Unit Deal

    REAL ESTATE 
    5% should cover vacancy, repairs, maintenance, management fees, advertising....???? I would be very hesitant to recommend that someone use 30% operating expenses on a proforma analysis. I operate my properties pretty darn cheaply and still use +/-50% when doing ALL proforma analysis. Better...
  11. MonTexan

    MMA Management Business

    HOT! 
    10-4. I have no doubt they could kick my arse in the ring! Great job on the new biz! I'm enjoying following your success.
  12. MonTexan

    5 Unit Deal

    REAL ESTATE 
    Throwing together some quick numbers, I would say the deal is not all that great on a pure cash-flow basis. Assuming a purchase price of $250k and monthly rent of $3200, your approximate NOI would be: 3200 x 12 x 0.5 = $19,200 And cap rate = $19,200/$250,000 = 7.7% I'd say an 8 cap is too low...
  13. MonTexan

    19 Years old: First RE Deal done

    REAL ESTATE 
    Awesome G - congrats!! That first deal is the hardest....now, that wasn't that hard was it?? Keep up the good work.
  14. MonTexan

    Best way to negotiate a raise at work?

    I agree with the above advice but also want to mention the fact that I certainly WOULD NOT go in bluffing and "put in your two weeks" without having EVERY intention of leaving. If they want to keep you of course they'll try to talk you out of it and probably give you more money, but management...
  15. MonTexan

    MMA Management Business

    HOT! 
    Hold on. Did a girl just TKO a guy in the octagon??
  16. MonTexan

    Stop Acting Rich - Start Acting Like A Real Millionaire!

    HOT! 
    It's all about the marketing. If people THINK you're brand is worth a mint, they'll pay a mint for it. Rolex comes to mind. I guarantee that any timex out there is more accurate than the most expensive Rolex. They are well-known to keep terrible time, yet people pay BIG for them. A $7,500...
  17. MonTexan

    Are the property owners from this site in trouble?

    HOT! 
    Very true Hat, "paid off" can get you a long way toward a nice passive income. That's an amazing net worth. Was it built from the ground up in rental real estate? Just think what they could leverage into in the current & upcoming RE market: 30 x 300k + 30 x 150k = $13,500,000 equity. They...
  18. MonTexan

    Are the property owners from this site in trouble?

    HOT! 
    This may be true, but I bet you'd be hard-pressed to find a cash-flowing single family rental house to buy in San Fran.
  19. MonTexan

    Are the property owners from this site in trouble?

    HOT! 
    You want to know what causes the downfall of almost every business that fails - real estate or otherwise? *CASH FLOW PROBLEMS* Speculating on appreciation, extensive over-leveraging, and chasing a quick buck catches up with people in times like these. Buying solid rental property that...
  20. MonTexan

    Buying a Gas Station

    I would ask for tax returns for the past several years to get a better handle on income and expenses. Would also press them to carry back 100% rather than just 50%....if they're desperate enough they may just go for it. Chances of someone (especially a newbie to this particular biz) getting...

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