Say it ain’t so!

After a wonderful holiday weekend, I receive an email from my closer ( god I love her), stating there was an IRS lien on this building for 175K! She has been in talks with the seller about what to do. The seller, in her words, does not seem to enthused to pay it off. I have not been contacted by the seller, YET!. I have a really…[Read more]

I have not tried those specifically.

Looking for an accurate convention schedule for 12…

Thanks for the tip!

John

jayhinrichs wrote:

GreaterKCHomes wrote:

jayhinrichs wrote:
The absolutly most risky US real estate investment is the Super high cap rate multi family properties in the bigger mid west cities of the US.— I don't know that I would neccesairly agree with this statement. The midwest is the best area to invest if you are looking for cash flow,…[Read more]

BuyLandOnLine wrote:
Thank-you John. Like most things, if your good at something it is easier. When I was an educator and counselor working with gang effected teenagers it was easy to get up for work and easy to feel good about what I did, the work…well, it was never easy but most of my college educated friends thought the job seemed…[Read more]

BuyLandOnLine wrote:
I obviously don't see eye to eye with Jay, just read the most recent posts here, however, Kansas City, really, I own a lot there. The author unknown in the above wrote Property management is pretty easy for those that have the experience in dealing with tenants, and understand that you have to think like a tenant, not an…[Read more]

jayhinrichs wrote:
The absolutly most risky US real estate investment is the Super high cap rate multi family properties in the bigger mid west cities of the US.— I don't know that I would neccesairly agree with this statement. The midwest is the best area to invest if you are looking for cash flow, always has been and always will be. The…[Read more]

I had a really good Friday.

My associates and I met with the City Planners to discuss some of their “wishes”, on this building.

It seems that they want us to conform to neighborhood preservation designs on this building. So we asked the obvious question, please explain.

They do not want window units facing Linwood (the main street in front of…[Read more]

jayhinrichs wrote:
KC homes.I know you have put a lot of stats together that are very helpful for those investing in SFR rentals.What would you say is your average length of stay for your tenant's, I think this is a factor that folks would like to know and to put in their cash flow analysis, not including the unexpected vacancies from lack of…[Read more]

KnoxOff wrote:
  John  are you sure your tennet  wasnt Egertis Butchee http://www.youtube.com/watch?v=FWojouNbl6Q&feature=relatedthe cars on fire and he parks it next to the petrol pump  

Wow.  What a great idea…see smoke out of your car, so let's pull over near a gas pump…And he's not insured….One has to wonder.

jayhinrichs wrote:
I just have to wonder what our audience thinks of these conversations.I have just got to think they have no clue as to what we are talking about.Tenants that trash units, Tenants that the US governement pays for their rent and they still trash the units…. Just think how RICH a country the US would be if we did not support…[Read more]

jayhinrichs wrote:
slum lord is the name of the last owner.what I have seen happen is after you get sick and tired of the tenants tearing your properties up you then just get calous and do as little as possible.In San Francisco we called them Projects pretty much 100% african americans and Mexicans. With average home prices in SF at 750k and…[Read more]

Alex SC wrote:
Well we looked at section 8 204 unit in Atlanta , think our client passes we so did we.Taking on a large head ache just don't have the stomach for it. Yes I like section 8 for cash flow on single family homes .Not sure if I am ready to tackle a big 204 unit head. Bank foreclosure. So looks like another investor lost on it already.…[Read more]

jayhinrichs wrote:
Mortality rate is very high for these props That's why apartments are rated in classes. If this apt in KC is so great why is it vacant and blighted one has to ask the question There was the day those props were transformed to lofts. But that was commercial to resi conversion not one landlord failing and another buying ones dre…[Read more]

jayhinrichs wrote:
Most section 8 that I am aware of pay a more than market rents ergo that's why landlords wil take that caliber of renter not withstanding the payment directly from hud

Jay,Yes in most cases on typical renovated homes, Section 8 will pay more for that property. However on apartments,they will only pay $625 net or $833 gross if…[Read more]

Jay,I appreciate the feedback.Yea, we are not crazy about the Section 8 offer, as we can easily go 25-30% over what Section 8 would pay us to rent to open market tenants. They came into play when we were negotiating with the city on what our plans were. This building is in the midtown area, but it is surrounded by nothing but apartment buildings,…[Read more]

Alex SC wrote:
John how are you. Like wise the old tax man is coming. For sure after 3 years. So true.. Bottom line you can make and lose money in real estate. I am only 15 years in this business. I don't have the mortgage or bank back ground like others. I have purchased and rehabbed homes from $10k to $5m . Now not going to lie the higher…[Read more]

Alex SC wrote:
Quick investment thoughts Newer homes 3 bed 2 bath or larger = future appreciation ( speculation of course ) good cash flow less headaches Older investment homes = Great cash flow , higher turn overs and more head aches. Not always….I  do deal with both types of these investment  homes( for my own portfolio and our clients )  bu…[Read more]

baruchmax wrote:
Hi John, Good post. I have some comments. 1) Property Management – Property Management is a necessary evil for long distance property owners. The simple fact is no one will care about your property as much as you would, but you have to have a property manager involved if you own a property overseas. The best thing to do is find…[Read more]

Elle Dee Esse wrote:
Thanks John, that is helpful. So just to get my head straight the steps I should take go something like this:-First decide which state I want to invest in before setting up the accounting requirements as these will be dependant on state law?If I get an LLC this is a one time only procedure or is one needed for every…[Read more]

Elle Dee Esse wrote:
Hi, I am just starting out in getting a feel for the US market and understanding some of the terminology in listings. Can someone please tell me what is a Fannie Mae HomePath property? I gather Fannie Mae was one of the big financial institutions that collapsed – is this correct?Can someone also tell me what the tax…[Read more]