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REI is my game

Discussion in 'Forum Introductions (Who are you!?)' started by M&T, Oct 2, 2007.

  1. M&T
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    M&T New Contributor

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    I was on the rich Dad site to check a seminar date and found this site.This is like a slice of heaven.A positive place for motivated wealth thinkers!I am from just outside Hershey Pa.Yes you can smell the chocolate cooking in town. My wife and I are real estate investors. We bought 7 properties our 1st year.Then the market took the turn... I was just about to blanket mortgage all the properties into a nice tidy 20 year note and boom.Nobody wants to deal with the sub-prime. I am ready to go private funding for the blanket and would also like to invest in commercial. There are so many great deals sitting here in our area! I can't wait to move on some of them. I am in contact with a few people here, but if anyone is interested feel free to drop me an e-mail.
    I am always looking for motivated , positive people to learn from. Also if I can help out please let me know...
    Sincerely,
    M&T...
     
    Last edited by a moderator: Oct 2, 2007
  2. Yankees338
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    Yankees338 Bronze Contributor

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    Welcome! Yet another RE investor here.:hurray:
     
  3. LightHouse
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    LightHouse Legendary Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Welcome M & T, My father just moved from outside harrisburg (5 mins from hershey) down to Dillsburg, a little closer to me. Its good to have you hear im sure all the REI people would like to hear about your deals.
     
  4. M&T
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    M&T New Contributor

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    LightHouse,
    We are practicaly neighbors.
    Thanks all, it is good to be here.
    M&T...
     
  5. LightHouse
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    LightHouse Legendary Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Well you and My father! My home is in Northern VA. Loudoun County.
     
  6. snowbank
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    snowbank Platinum Contributor Speedway Pass

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    M&T,

    What do properties go for where you're from?
     
  7. M&T
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    M&T New Contributor

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    Well, it all depends on the area. If I go 5 min. West to Hershey the prices are high end. If I go 20 min East to Lebanon they are much cheaper. The prices break down like this: A 2 unit in great shape $90,000- $150,000
    2 unit that needs lots of work $45,000-$75,000
    4unit great shape $175,000-$275,000
    4 unit that needs a lot of work $75,000-$140,000
    There are a lot of bigger commercial units sitting . There have been a few that have sat for three years on the market. One is a 12 unit they wanted $320,000 for. Mostly one and two bedrooms. It hasn't moved, needs some tlc and I know it came down in price.There is also a beautiful 6 unit built in 2002 for $350,000 and it' been on the market for 2 years. But there is an intersection in the city where 3 out of the 4 properties are for sale.One is a big commercial 1st floor and 24 units other 2 floors. Not sure on the price it has been up for a few years.
    Lots of stuff out there. the biggers one's have been sitting here.
    M&T...
    P.S. Strip malls too....
     
  8. kurtyordy
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    kurtyordy Bronze Contributor

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    M&T,

    Greetings from Palmyra. Good to have you on board. Are your props in hershey, or do you have them spread out?
     
  9. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Admin Post
    Thank you for joining and the write-up!
     
  10. M&T
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    M&T New Contributor

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    Kurt,
    They are spread out. Are you in the area?
     

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