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  1. imirza

    Action Takers - What Are You Up To?

    HOT! 
    Bflbob, Go to www.thomasnet.com . You will find manufacturers for every product you can think of. http://www.doba.com/ can connect you with dropshippers - the wholesaler who will ship the products directly to you customers.
  2. imirza

    Business Credit

    HOT! 
    This may sound like a silly question but in order to get a Paydex score you do need to actually make purchases from the 5 vendors that you sign up for business credit with right ? I got my D&B number a few weeks back and I am starting to apply for business credit with vendors. When applying...
  3. imirza

    Action Takers - What Are You Up To?

    HOT! 
    Things I have done since the Fastlane Meetup Made an offer on a motel ( $1.8 mil purchase. Owner will carryback $1 mil). Still in the negotiation process. Owner is willing to provide cashback and I can get 85% financing (SBA). Currently doing due diligence. Made an offer on an SFR that is 30%...
  4. imirza

    Good source for Trustee Sales

    REAL ESTATE 
    http://www.ctcres.com/index.aspx
  5. imirza

    Blackballing Zip Codes

    REAL ESTATE 
    Seller carrybacks will be in.
  6. imirza

    How does a rookie compete with pro's?

    REAL ESTATE 
    Sid, 'Fake it till you Make it' . How is the commercial Broker supposed to know you have zero deals under your belt unless you say so ? Don't straight out lie and say stuff like ' Oh yea I built that office tower on 53rd and Lexington' , but act and present youself as someone who has...
  7. imirza

    Hello from your favorite Pessimistic Investor

    HOT! INVESTING 
    CIT Randall not C . CIT Group and CitiGroup are 2 different companies. If trading was halted in C I would think the market would drop atleast 500 points.
  8. imirza

    Buying precious metals?

    HOT! INVESTING 
    Gold, Silver, Oil, Agriculture and commodities in general fell apart today. Word is that Hedge Funds are being forced to reduce leverage by their prime brokers. Commodities in general is a very crowded trade with a lot of hedge funds long the metal , oil and ag. Thus the losses today in GLD...
  9. imirza

    Steps to Successfully Buying Your First Investment Property

    REAL ESTATE 
    For those who say appreciation is gambling and cashflow is the only way to go I pose this question . " If real estate prices across the US had stayed flat over the last 30 years, how many real estate millionaires would there be ? " Cashflow allows you to hold the properties so that...
  10. imirza

    Steps to Successfully Buying Your First Investment Property

    REAL ESTATE 
    Somewhere in the 6.5-7% range. Bio, I understand how buying properties with equity in them and getting cash out etc screwed people over a few years back when prices were near a peak. But you have to remember the real estate market has done a 180 in the last 2 years. The real estate...
  11. imirza

    Steps to Successfully Buying Your First Investment Property

    REAL ESTATE 
    Snowbank, The management fee is $75 a month. I have spoken to them. They are the biggest SFR management Co. in Phx - www.gorenter.com. True I didn't factor in vacancy, but I was comparing 2 properties - a 490k vs a 250k one. I currently have a rental which I have had for a year without any...
  12. imirza

    Steps to Successfully Buying Your First Investment Property

    REAL ESTATE 
    Snowbank, What I am doing is buying distressed real estate in a market with strong long term fundamentals. I would consider this gambling if I didn't understand the market. What I know of this market is that an extra 100,000 people are expected to move here over the next 15 years which is a...
  13. imirza

    Steps to Successfully Buying Your First Investment Property

    REAL ESTATE 
    Comparison of properties Property one : Purchase price $250,000 Loan $ 250,000 Interest Only loan @ 6.5% : $1354.17 Taxes ( 1%) : $208.334 Insurance ( estimated ) : $60 HOA : $100 Management : $75 ( flat fee) Total costs : $1,797.5 Property would rent for $1500 (at most) Cash flow...
  14. imirza

    Survive and Thrive in All Economic Times

    OFF-TOPIC 
    Here is a good website for those thinking of buying foreign real estate. I think someone may have posted it before but I will post it again. http://www.escapeartist.com/
  15. imirza

    Survive and Thrive in All Economic Times

    OFF-TOPIC 
    I read somewhere and I think it was in the book 'Richistan' that the wealthiest 1% of Americans are responsible for 70% of consumer spending. Recessions don't effect the top 1% as much as it effects the rest. Based on this I have a feeling that perhaps this recession will not be as bad as some...
  16. imirza

    Steps to Successfully Buying Your First Investment Property

    REAL ESTATE 
    Snowbank , I am working on a financing option that will give me cashback to cover atleast a years worth of payments. So even if the home sat empty I wouldn't lose money. Buying this home depends on me being able to secure this cash back financing. If I am unable to get this type of...
  17. imirza

    Jim Rogers on CNBC

    INVESTING 
    Rogers has already moved to Singapore. He doesn't want to move to China because of high levels of pollution. His young daughter has a nanny that speaks to her only in Mandarin. Rogers wants his daughters primary language to be Mandarin. I read one of Rogers books a few year back - not sure...
  18. imirza

    Steps to Successfully Buying Your First Investment Property

    REAL ESTATE 
    andviv, the financing option that I am using will give me cash back. Enough for a years worth of payments. I plan on closing late April. In the mean time I am doing due diligence and covering all the bases. Going through with this deal depends on me getting approval for this type of financing...
  19. imirza

    Options - Iron Condors, Vertical Spreads, Flys

    HOT! INVESTING 
    That was some volatility today. Crazy intraday swings. Up 50 on the Dow to down 300 to down 80 to down 300 to down 100 to down nearly 200. I have found that one of the best ways to play this volatility ( apart from using options) is to use leveraged ETFs . I use SKF and SRS to short the...
  20. imirza

    Steps to Successfully Buying Your First Investment Property

    REAL ESTATE 
    Thanks Runum :) I really enjoyed the badgering. I want people to rip my plan apart so that way I can see the holes in it and find ways to fix them. I like knowing all the things that could potentially go wrong and figure ways to prevent them from happening. I completely understand your...

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