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Viewing 15 posts - 31 through 45 (of 96 total)
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  • June 4, 2008 at 11:50 PM #217271
    Doofrat
    Participant

    I for one would steer clear. It’s not because I think it’s a scam, but because I’m afraid that my character would be corrupted by all that money. I don’t think 32 months is enough time to adjust to the lifestyle changes that being a millionaire would almost certainly bring.

    June 5, 2008 at 9:40 AM #217289
    Anonymous
    Guest

    As the “perpetrator” of this “scam” – let me add some comments.

    These properties are in the midwest. Nothing in Detroit though, yet. There will be properties worth buying in Detroit someday, too.

    It is not for a real estate investor who wants to hold and touch and feel, and fall in love with, and micro-manage his/her property. It is for someone looking for a little diversification. There is a component of “Socially Redeeming Value” in the transactions as well.

    We have no problem enduring the slings and arrows of dicussion boards. I would encourage you to email me at [email protected] or call me personally at 760.809.4666 to get the details before you comment pro – or con!

    Sincerely,

    Richard Worcester
    President – The Hilltop Group of Companies
    Phone – 760.809.4666

    June 5, 2008 at 9:40 AM #217376
    Anonymous
    Guest

    As the “perpetrator” of this “scam” – let me add some comments.

    These properties are in the midwest. Nothing in Detroit though, yet. There will be properties worth buying in Detroit someday, too.

    It is not for a real estate investor who wants to hold and touch and feel, and fall in love with, and micro-manage his/her property. It is for someone looking for a little diversification. There is a component of “Socially Redeeming Value” in the transactions as well.

    We have no problem enduring the slings and arrows of dicussion boards. I would encourage you to email me at [email protected] or call me personally at 760.809.4666 to get the details before you comment pro – or con!

    Sincerely,

    Richard Worcester
    President – The Hilltop Group of Companies
    Phone – 760.809.4666

    June 5, 2008 at 9:40 AM #217399
    Anonymous
    Guest

    As the “perpetrator” of this “scam” – let me add some comments.

    These properties are in the midwest. Nothing in Detroit though, yet. There will be properties worth buying in Detroit someday, too.

    It is not for a real estate investor who wants to hold and touch and feel, and fall in love with, and micro-manage his/her property. It is for someone looking for a little diversification. There is a component of “Socially Redeeming Value” in the transactions as well.

    We have no problem enduring the slings and arrows of dicussion boards. I would encourage you to email me at [email protected] or call me personally at 760.809.4666 to get the details before you comment pro – or con!

    Sincerely,

    Richard Worcester
    President – The Hilltop Group of Companies
    Phone – 760.809.4666

    June 5, 2008 at 9:40 AM #217427
    Anonymous
    Guest

    As the “perpetrator” of this “scam” – let me add some comments.

    These properties are in the midwest. Nothing in Detroit though, yet. There will be properties worth buying in Detroit someday, too.

    It is not for a real estate investor who wants to hold and touch and feel, and fall in love with, and micro-manage his/her property. It is for someone looking for a little diversification. There is a component of “Socially Redeeming Value” in the transactions as well.

    We have no problem enduring the slings and arrows of dicussion boards. I would encourage you to email me at [email protected] or call me personally at 760.809.4666 to get the details before you comment pro – or con!

    Sincerely,

    Richard Worcester
    President – The Hilltop Group of Companies
    Phone – 760.809.4666

    June 5, 2008 at 9:40 AM #217450
    Anonymous
    Guest

    As the “perpetrator” of this “scam” – let me add some comments.

    These properties are in the midwest. Nothing in Detroit though, yet. There will be properties worth buying in Detroit someday, too.

    It is not for a real estate investor who wants to hold and touch and feel, and fall in love with, and micro-manage his/her property. It is for someone looking for a little diversification. There is a component of “Socially Redeeming Value” in the transactions as well.

    We have no problem enduring the slings and arrows of dicussion boards. I would encourage you to email me at [email protected] or call me personally at 760.809.4666 to get the details before you comment pro – or con!

    Sincerely,

    Richard Worcester
    President – The Hilltop Group of Companies
    Phone – 760.809.4666

    June 5, 2008 at 10:15 AM #217329
    zk
    Participant

    get the details before you comment pro – or con

    Now, by “con,” do you mean…

    June 5, 2008 at 10:15 AM #217416
    zk
    Participant

    get the details before you comment pro – or con

    Now, by “con,” do you mean…

    June 5, 2008 at 10:15 AM #217439
    zk
    Participant

    get the details before you comment pro – or con

    Now, by “con,” do you mean…

    June 5, 2008 at 10:15 AM #217466
    zk
    Participant

    get the details before you comment pro – or con

    Now, by “con,” do you mean…

    June 5, 2008 at 10:15 AM #217490
    zk
    Participant

    get the details before you comment pro – or con

    Now, by “con,” do you mean…

    June 5, 2008 at 11:19 AM #217393
    (former)FormerSanDiegan
    Participant

    It is not for a real estate investor who wants to hold and touch and feel, and fall in love with, and micro-manage his/her property. It is for someone looking for a little diversification. There is a component of “Socially Redeeming Value” in the transactions as well.

    I have recently seen similar concepts being floated around. I have invested in real estate in the past and still own an investment property. The primary reason I have individual real estate as part of my portfolio is that (in addition to diversification) it is an investment that I can touch and feel and that I have control over. I have the option of moving into it if I want to move back to the SD area or I fall on rough times move back in because my payments are signficantly cheaper than renting. I also could use it as a second home or retirement pad once it is paid off.

    If I want diversification into real estate or cash flow I buy REITS. If I buy single family homes or a condo, it is because I have a vision for changing the property in the future or have flexible plans for that property.

    That said, assuming 30K, these would be tempting if one could actually clear $400 per month cash flow. That’s equivalent to 16% yield. My main worries in that situation are vacancy rates and job stability in the region. Supply of vacant/foreclosed properties and …

    But, the biggest issue I have is maintenance costs. It turns out that a 1000 square foot home in the midwest has about 70-80% of the maintenance costs of a 1000 sf home in San Diego. However, that house might be 50-100K in the midwest (or 30K in this case) versus 400K in San Diego. SO, if I spend 2000 per year on maintenance for my 400K home it’s no big deal. But, if I spend $1500 maintenance on my 30K home somewhere in Ohio. Well that’s significant and cuts into cash flow. My maintenance figures are probably on the low side, too.

    As for where these properties are located …
    I would assume that these properties are most likely in the states of Ohio and/or Michigan.

    June 5, 2008 at 11:19 AM #217482
    (former)FormerSanDiegan
    Participant

    It is not for a real estate investor who wants to hold and touch and feel, and fall in love with, and micro-manage his/her property. It is for someone looking for a little diversification. There is a component of “Socially Redeeming Value” in the transactions as well.

    I have recently seen similar concepts being floated around. I have invested in real estate in the past and still own an investment property. The primary reason I have individual real estate as part of my portfolio is that (in addition to diversification) it is an investment that I can touch and feel and that I have control over. I have the option of moving into it if I want to move back to the SD area or I fall on rough times move back in because my payments are signficantly cheaper than renting. I also could use it as a second home or retirement pad once it is paid off.

    If I want diversification into real estate or cash flow I buy REITS. If I buy single family homes or a condo, it is because I have a vision for changing the property in the future or have flexible plans for that property.

    That said, assuming 30K, these would be tempting if one could actually clear $400 per month cash flow. That’s equivalent to 16% yield. My main worries in that situation are vacancy rates and job stability in the region. Supply of vacant/foreclosed properties and …

    But, the biggest issue I have is maintenance costs. It turns out that a 1000 square foot home in the midwest has about 70-80% of the maintenance costs of a 1000 sf home in San Diego. However, that house might be 50-100K in the midwest (or 30K in this case) versus 400K in San Diego. SO, if I spend 2000 per year on maintenance for my 400K home it’s no big deal. But, if I spend $1500 maintenance on my 30K home somewhere in Ohio. Well that’s significant and cuts into cash flow. My maintenance figures are probably on the low side, too.

    As for where these properties are located …
    I would assume that these properties are most likely in the states of Ohio and/or Michigan.

    June 5, 2008 at 11:19 AM #217504
    (former)FormerSanDiegan
    Participant

    It is not for a real estate investor who wants to hold and touch and feel, and fall in love with, and micro-manage his/her property. It is for someone looking for a little diversification. There is a component of “Socially Redeeming Value” in the transactions as well.

    I have recently seen similar concepts being floated around. I have invested in real estate in the past and still own an investment property. The primary reason I have individual real estate as part of my portfolio is that (in addition to diversification) it is an investment that I can touch and feel and that I have control over. I have the option of moving into it if I want to move back to the SD area or I fall on rough times move back in because my payments are signficantly cheaper than renting. I also could use it as a second home or retirement pad once it is paid off.

    If I want diversification into real estate or cash flow I buy REITS. If I buy single family homes or a condo, it is because I have a vision for changing the property in the future or have flexible plans for that property.

    That said, assuming 30K, these would be tempting if one could actually clear $400 per month cash flow. That’s equivalent to 16% yield. My main worries in that situation are vacancy rates and job stability in the region. Supply of vacant/foreclosed properties and …

    But, the biggest issue I have is maintenance costs. It turns out that a 1000 square foot home in the midwest has about 70-80% of the maintenance costs of a 1000 sf home in San Diego. However, that house might be 50-100K in the midwest (or 30K in this case) versus 400K in San Diego. SO, if I spend 2000 per year on maintenance for my 400K home it’s no big deal. But, if I spend $1500 maintenance on my 30K home somewhere in Ohio. Well that’s significant and cuts into cash flow. My maintenance figures are probably on the low side, too.

    As for where these properties are located …
    I would assume that these properties are most likely in the states of Ohio and/or Michigan.

    June 5, 2008 at 11:19 AM #217533
    (former)FormerSanDiegan
    Participant

    It is not for a real estate investor who wants to hold and touch and feel, and fall in love with, and micro-manage his/her property. It is for someone looking for a little diversification. There is a component of “Socially Redeeming Value” in the transactions as well.

    I have recently seen similar concepts being floated around. I have invested in real estate in the past and still own an investment property. The primary reason I have individual real estate as part of my portfolio is that (in addition to diversification) it is an investment that I can touch and feel and that I have control over. I have the option of moving into it if I want to move back to the SD area or I fall on rough times move back in because my payments are signficantly cheaper than renting. I also could use it as a second home or retirement pad once it is paid off.

    If I want diversification into real estate or cash flow I buy REITS. If I buy single family homes or a condo, it is because I have a vision for changing the property in the future or have flexible plans for that property.

    That said, assuming 30K, these would be tempting if one could actually clear $400 per month cash flow. That’s equivalent to 16% yield. My main worries in that situation are vacancy rates and job stability in the region. Supply of vacant/foreclosed properties and …

    But, the biggest issue I have is maintenance costs. It turns out that a 1000 square foot home in the midwest has about 70-80% of the maintenance costs of a 1000 sf home in San Diego. However, that house might be 50-100K in the midwest (or 30K in this case) versus 400K in San Diego. SO, if I spend 2000 per year on maintenance for my 400K home it’s no big deal. But, if I spend $1500 maintenance on my 30K home somewhere in Ohio. Well that’s significant and cuts into cash flow. My maintenance figures are probably on the low side, too.

    As for where these properties are located …
    I would assume that these properties are most likely in the states of Ohio and/or Michigan.

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