Aegis has only had to take back 1 property in 2 years.  Considering their volume that is very good.  My brother is the main underwriter of most of the deals.  He doesn't trust anyone else, not even in his own office to ensure least amount of risk.  He's a stickler but they run a very good program there.  If you aren't leary of every deal as a priv…[Read more]

I have no idea Jay…Like I said, this is not my style.  I just read the paper. 

Jay:  Little secret…A lot of realtor aren't smart!  I have seen realtors go on title to have an equitable position which makes them feel good about owning a piece of something.  Then they try to control it.  Then it turns into a disaster.  "Tenant in Common" is not used for SFR's.  I can't dignify much of it, because it makes zero sense, but i…[Read more]

– Did you find the process of buying foreclose properties in the US difficult/complex?Can be…Do you really want to buy an REO and deal with worrying about rehab?  Use a wholesaler.  For instance (and this is not a solicitation , but we purchase 1-10 homes at a time, in many cases from the same seller.  We get some discounts.  The discounts bas…[Read more]

Where do you think Tampa is categorized?  SW Florida..  If you are an investor looking to spend $50,000 on something small, good luck in Tampa and Miami.  The majority of people on this forum are looking for $100k or less.  Find me something in Miami or Tampa outside of warzones that you can buy for under 100k.  Bottom line Kyle, is that this mark…[Read more]

Kyler:  Yeah..Sheldon Adelson is a bum.  I can't believe he is looking into Fort Myers to build a casino resort.  He's just a rookie…He'll learn his lesson.  SMH.  FYI, he is chairman of Sands.

I had to stop reading once you said you can get a central 2 ton AC system for $600 – $800.  I do my own rehab work thru my general contractors license.  I have a straight source with AC vendors as all contractors do.  I have never heard of a central AC system (2 tons nonetheless) for $800… Goodman, RHEEM, which many believe are generic brands of…[Read more]

Exactly!  It's psychological warfare.  Keep in mind, these thiefs are not smart.  They have the education of a 10 year old.  All they know how to do is roll up at night, sneak and snatch.  They have found ways around cages.  However, cages are working in our area for some.  I just chose a cheaper alternative which has worked very well so far.Al…[Read more]

I have 3 properties in areas that require deterrent's on AC systems.  My cages cost about $250 each.  I still think its a good investment.  I don't have pictures on hand of my properties, but check this out:  FAKE SECURITY CAMERAMine were $10 each and I have 2 of them.  I have one that overlooks my A/C and well system.  And I have another in the c…[Read more]

Jay:Great writeup…My in-laws live 2 doors down from Russ Whitney.  He was the rags to riches guy, went way uphill, downhill and back and forth a dozen times… See my John T Reed response at the end.I have seen others operations as well (one out of Salt Lake City) and have seen the boiler rooms.  My opinion is that each and every investor n…[Read more]

Long Island is pretty stagnant right now.. So are the NJ suburbs..  There may still be a significant drop in these areas.  I am referring to the condo market in areas on the waterfront within 10 minutes of Manhattan by bus / PATH / Train.  Inventory is down in these areas and absorption rate is 25% better than last December.  Speaking of Long Isl…[Read more]

Alex:  I just hope you're not from Staten Island!  I can't believe  you wouldn't consider NJ a "Real" place.  I mean come on…Doesn't Snooki and the Jersey Shore on MTV sell NJ enough?  No?  How about the Real Housewives?  Mob Wives?  Not sure if you watch that stuff…I sure don't but you hear and read about it all the time and they are the epi…[Read more]

Kylermrice:  If you bought a home in Cape Coral in 2008 for 35k, it either had defective drywall issues or was in the boonies.  Cheaper is not always better.  A good home in Cape Coral could have been had for about $60k to $80k.  Today is about 10% higher.

True story here:  Without naming names, I was director of a real estate brokerage owned by one of Florida's biggest construction lenders during the boom.  My focus was emerging markets and by 2005 we were already pulling out of Florida.  A bit too late, albeit.  I'll never forget the day where the CEO came to my office and the look on his face is…[Read more]

Richard:  I wouldn't necessarily say that.  Some areas have some serious lingering issues, ie..Nevada..I have gone with my gut instinct lately though.  Hopefully pays off big!  So far so good

Kyler,That is a horrible description of how Florida is.  Maybe you can call some pharmaceutical companies and ask why they are looking at HQ land in SW Florida.  Why?  Cheap land, affordable pay wages, and no state taxes.  Other than that, I shouldn't dignify it much more.  Seasoned investors know why FL is an attractive market.Alex:  Just took…[Read more]

Alex,Thanks for calling me out because I didn't want to sound toooo crazy…but Crown Royal it is for me!  That's my preference!!  Hell with the rumrunners.  January sounds good to me.  after we spoke I figured that is when you would come down.  I would be curious to know the general location of lots your Hong Kong fund purchased.  See you soon…[Read more]

I am both an agent and wholesaler.  Come on down to Ft. Myers.  I'll buy the first round of rum runners and I'll show you how good I am in this area .  I think you will have a different perspective other than your google earth or historic number details.

Who cares about lots and the amount of inventory?  If you are in Fort Myers (areas where people actually live), you will have to search long and hard for a good residential site.  There are a bunch of lots in North Fort Myers that are vacant.  Travel there.  You will see why they are vacant.  This area of North Ft. Myers is not all rural, but the…[Read more]

Lawsjs:  I agree with Manhattan real estate.  Problem is its too pricey for 99% of investors on this board.  They are looking for affordable entry level homes for cash flow and upside.  I have a brokerage in Hoboken, NJ and my blog is http://www.NewJerseyRealEstateGuys.com.  We are booming right now with luxury condo market in NY Metro area and NYC refe…[Read more]