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  1. G

    Obama: Changes, new rules, context?

    I totally agree with you. I think government should run like a business. I have witnessed so many wasted man hours and how damn lazy government workers can be. If I were the President, Governor, or Mayor, I would privatize everything. Even the police and fire departments. The city of...
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    Financing Question

    REAL ESTATE 
    After you are done with the rehab and stabilization of your property, your partner or yourself can purchase it at appraised value. Appraised value is very arbitrary. As long as there are comps and the numbers work, you should get your targeted appraised value. You might pay more for closing...
  3. G

    Obama: Changes, new rules, context?

    I don`t get it. Capitalism is about profits. Jobs is all about profits. Growth is all about profits. Economic recovery is about profits. If now if not about profits, what is it about;Bankruptcy?
  4. G

    Financing Question

    REAL ESTATE 
    I don`t know whether it is legal in your area but why not put the property under one partner`s name. Have a side agreement to protect the other`s interest. Rehab the property, get it stabilized with new paying tenants. The second partner purchases the property and closes the deal. After...
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    How to Save Yourself in this Recession

    HOT! 
    Forget the statistics or the national reports on the recession. I look at what I have personally have witnessed over the recent years. I own just under 3,000 rental units consisting of apartments, and townhomes in three different states. Back in 2004 and early 2005, I had my own recession in...
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    advice needed

    REAL ESTATE 
    It is not just a matter of purchasing a condo and renting it. Never trust anyone and be ready to be hands on. The distance between you and your potential new rental property is a problem. If it is vacant and nobody is managing it, you have yourself a major liability that with a savy scumbag...
  7. G

    Apartment Market

    REAL ESTATE 
    Thanks, Back to the drawing board.
  8. G

    How to Save Yourself in this Recession

    HOT! 
    Contact your lenders, vendors, and have a new business and restructural plan and do not panic. Take it day at a time. I have been in a major crunch last year where it was overwhelming. Watch your expenses and you really need to be hands on. Be extremely selective on who your tenants are.
  9. G

    Financing Question

    REAL ESTATE 
    I have found bridge loans or construction loans are extremely difficult to come by these days. I normally avoid construction loans due to the massive amount of paperwork the title company requires for you to collect a draw. I normally purchase the property with no prepayment penalty and use my...
  10. G

    Apartment Market

    REAL ESTATE 
    Steve, Do you know of any lenders out there lending at this time?
  11. G

    Where We Are, Where We're Heading (2009)

    The writer seems to predict that we are on the verge of another Great Depression.
  12. G

    Renter and landlord situation -looking for advice from both sides

    OFF-TOPIC 
    Re: Renter and landlord situation -looking for advice from both s It is a Godsend to have a good tenant who pays their rents on time. It is tough to give senior citizens or tenants on a fixed income raises. The most I raise is ten dollars unless it is a deluxe unit which has been...
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    Renter and landlord situation -looking for advice from both sides

    OFF-TOPIC 
    Re: Renter and landlord situation -looking for advice from both s Every city or county should have a landlord/tenant rights pamphlet. Your current lease should be good until it expires and I do not think you are required to resign the lease unless it is voluntarily on your part. It does...
  14. G

    Apartment Ideas

    IDEA 
    I do know credit is next to impossible to get these days. There are other options where you can proceed with your acquisitions. If the seller is very motivated, you can entertain an offer to purchase under articles of agreement (owner financing) where you can put 10% or so down and have the...
  15. G

    What have you learned this year? (Updated: 2024)

    HOT! MINDSET 
    I used to be a stockbroker for many years before I got involved in real estate. One thing I learned and live by is if you cannot see it, feel it, touch it, and smell it, then don`t invest in it.
  16. G

    What have you learned this year? (Updated: 2024)

    HOT! MINDSET 
    I totally agree with you. Putting on weight is easy but it is such a struggle to shave it off. I was totally shocked and depressed when I could not fit in my jeans in the fall. I have been wearing shorts all summer. I finally got on an exercise regiment and need to stick to it. Without...
  17. G

    No Lambo for Get-Rich-Slow Folks?

    HOT! 
    Some Ferraris and Lamborghinis have multiple odometers.
  18. G

    Help me make a big decision.

    Why do parents spend over $50K or more per year to send their kids to Ivy League colleges and universities for? Isn`t English 101 the same at Harvard as is at your local community college? I am a firm believer on you are who you hang out with. At Harvard, Yale, Stanford, you are with the...
  19. G

    Cannot understand why local, county, state, are broke?

    How about setting up a citizens watchdog group and target cities that are crying BROKE and have the media behind us? I will volunteer my time and money. It will be a long haul and this task will not get solved overnight. I really do think we have a lot of unqualified people running the cities...
  20. G

    Apartment Ideas

    IDEA 
    Title is great, Steve. I have been asked to partner up from people who I know who wanted to invest in apartments. I was not ready for any partners and I will not be ready until I retire some secondary financing. The ideas that I mentioned was just a hypothetical scenario and I am open to...

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