May 14th, 2005
This real estate market is crazy. Multiple offers on every property? Properties selling for more than asking price?
I wonder what the reasons for this feeding frenzy might be. Property values just keep rising, way out of proportion to age increases. I wonder when this market will comme crashing down?
Banks seem to want lend money to anyone with a heart beat. No proof of income, no problem. Want cash back, you got it. Need a loan for 95% of the appraised value, no sweat.
There are a lot of banks pushing interest only loans that will go variable in a couple of years. This is all great if values continue to increase but look out if values get pushed down for any reason.
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July 17th, 2004
Have been chronically tired for years. Doctors hadn’t been able to figure out the problem. Finally my wife commented that sometimes at night I seem to stop breathing and then struggle for air.
I decided to talk with my doctor about sleep apnea. I’m not the classic sleep apnea sufferer who is typically overweight. The doc agreed given my history and the symptoms I described that I should have a sleep study done. Looking forward to having the study done and getting the results. Who knows, could be the answer I have been looking for.
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April 4th, 2003
Lately I have been analyzing the “numbers of every mobile home park I can find to get an idea of operating costs. The more I look at the more comfortable I become with spotting opportunities.
For example if you have a park that pays the utilities, an opportunity exists to cahrge back the tenants depending on the rent level currently charged. Or maybe you a park that has current space rents well below the market rate for the area.
I’m also looking for other streams of possible income that could be generated like laundry, vending machines and storage of personal items or RVs and boats.
Because income generating properties are valued on “income”, every time you can increase the net operating income for a given cap rate you increase the value of the asset. So the key is to find something that has the potential to increase the income quickly and easily.
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October 1st, 2002
Buying a mobile home park could be the answer to my landlord headaches. I don’t want to keep fixing homes that are broken up by lousy tenants that don’t give a shit about anything.
With a mobile home I don’t have to own the homes. As long the space rent is paid and the tenants follow the rules it should be a much less stressful situation. More research I will be doing.
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September 16th, 2002
I’m analyzing whether or not to invest in additional rental properties. I’m becoming somewhat tired of being a landlord of single family homes. Most tenants just don’t give a damn about taking care of a place that they are renting. What’s the incentive for them? They ruin carpets, knock holes in doors and walls and move in unapproved pets.
With single family homes turnover can kill your roi when you get into replacing carpets and doors, fixing holes in the walls among other things. Then having the unit vacant for a month or more pretty much kills your positive cash flow for the year. Not to mention that when you have a vacant house, it’s 100% vacant whereas a multi unit property would still have income coming in from the other tenants.
Cap rates in my area are low right now so in general it’s probably not a good time to buy….maybe I should sell everything and sit tight until the buyers have the upper hand. As with most things timing is everything and real estate investing is no different.
There are so many different options when it comes deciding what asset class to invest in. Duplexes, fourplexes, apartment buildings, mobile home parks. Not sure what meets my needs. Time to think about this some more I guess.
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