Good Top, Bad Top

One thing nice about living in the sticks and being well respected.
When I bought my investment property last year. The binding deal was made on a handshake, and the loan was secured over breakfast at the local country store. Of course paperwork followed for both, but they were a done deal. Only stipulation was a clean title on the property. Sometimes there are problems that the owner is not aware of.
 
5.65%
I'm a child of the 80's, first house was bought with Gov bond money at 12%.
I'll be commuting 45 miles for 9 months just to get the low rates.

Like I've been saying your the land barron. Hopefully when I get a chance to diversify into real estate I'll have picked your brain a little by then for some tips.:clink:
 
For the tips just keep your eyes and ears open to opportunity.
Buy cheap in a zone you expect to grow soon. I knew an exit was going in, the old guy that owned the property died and his son wanted money so I bought.
Primo location right next to the exit, perfect for restaurants, gas-n-go's , etc. Actually the only perfect location near the exit.
Had several offers so far, just waiting for mo money :D up to 500k so far, not bad for about an 8 mos 120k investment.
 
I almost had over 100 acres, but I didn't have the time to farm it and that was part of the deal. I had to promise to farm the land, and I wasn't going to make a promise that I couldn't keep...
 
the city I'm moving to is experiencing explosive growth.
It's 40 miles North of New Orleans so plenty Yat's moving there for drier ground. They are putting in numerous roads and more than half the land is undeveloped.
May have to purchase a couple acres on the outskirts.:clink:
 
I'm working a deal to buy a house from "Miss Ruby," a widow. I'm giving her above market, paying the closing, putting down 10%, and she'll hold an interest only second (10% of price) at 12% simple interest, 7 year balloon. This is a quick-turn to go back out on a lease option. She even hooked me up with the leasors. Since this is not listed, she nets (in cash) the offer minus carry-back. The note will provide cashflow over time, until the L/O is exercised.
 
Topspin said:
the city I'm moving to is experiencing explosive growth.
It's 40 miles North of New Orleans so plenty Yat's moving there for drier ground. They are putting in numerous roads and more than half the land is undeveloped.
May have to purchase a couple acres on the outskirts.:clink:
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Dude, I think you told me it was Covington. That's great little town. If I was stuck in Louisiana, that's where I'd live.
 
We'll it's not Metairie, but Metairie is no longer Metairie post Katrina.
I'll feel safer with my wife in Cov and the commute will be 10 minutes.
Tennis clubs are way more active up there.
If I knew it would be this bad I would have stayed in Houston. YUK
 
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