You gotta help me out It's all a blur last night We need a taxi 'cause you're hung-over and I'm broke I lost my fake ID but you lost the motel key Spare me your freakin' dirty looks Now don't blame me You want to cash out and get the hell out of town
Don't be a baby Remember what you told me Shut up and put your money where your mouth is That's what you get for waking up in Vegas Get up and shake the glitter off your clothes now That's what you get for waking up in Vegas
I have been extremely busy lately. The responsibilities of being an entrepreneur are both exhilarating and exhausting. I have many great Las Vegas stories, and when I get a moment to breathe, I will start to write more about them. No drunken debauchery (I don't drink, and I am happily married), but I have been negotiating cash-for-keys, getting into title disputes with Fannie Mae, cleaning out Sanford and Son's property, and generally having a great time.
I have received several emails from investors concerning my progress. I should have the subscribers website up next weekend. I am still setting up the accounting system, and until I have detailed and accurate reports, the website will not be ready. Just so you all know, the fund currently owns 5 properties, and despite the usual headaches associated with this kind of work, I am very pleased with the margins.
Writing for the IHB is a great creative release for me, but I have been so busy, I haven't been able to devote the time to it I should. As I get my systems in place, my job should get a little easier, and I will put more time back into my writing.
Guest Post
THE REAL STORY ABOUT YOUR HOME Roger Banowetz, Retired City Building Inspector ICBO Certified, cell (714) 401-5980
Second lesson: What about Termites and dry-rot
Here is the truth about termites; it is not like you see on T.V. or what you have been told how it affects your home; termites are in almost every home, and termites don’t just come to your home and stay there until your house is all eaten up. That’s not how it works.
Don’t be afraid. Termites come and go, and they are not monogamist to your home. It takes many years to do significant damage, and most important you do not ever have to use any poison in your home ever. The official code says (paraphrasing) if you have termite or dry-rot in or on the lumber you must remove and replace infected area with new lumber and your home is back to original. Think of it, contractors cover your home and fill the whole home with “harmless” gas, and this gas goes though drywall and beams and kills the bugs but doesn’t leave any poison on your carpet or floors for your children or your animals. Of course, it does, and down the road your animals get sick and you don’t know why.
Some termite inspectors will try to scare you by telling you your home is in danger and that is not true as long as you keep up normal maintaince, this is not magic you can see the same things inspectors can see so if you knock on your door or window frames and termite dust falls out but you don’t see any termites then they were there and are now gone. In that case just replace the infected wood, but if you see termites then there are other ways to take care of the problem. Orange oil is a way, borax is another. The point is don’t be afraid of your home. If you have questions call your local building dept. Let your city be your friend, and if have concerns about your city please call me and I will be your friend.
Home Purchase Price … $506,000 Home Purchase Date .... 12/29/06
Net Gain (Loss) .......... $(192,980) Percent Change .......... -38.1% Annual Appreciation … -10.3%
Cost of Ownership ------------------------------------------------- $333,000 .......... Asking Price $11,655 .......... 3.5% Down FHA Financing 4.23% ............... Mortgage Interest Rate $321,345 .......... 30-Year Mortgage $63,036 .......... Income Requirement
$1,577 .......... Monthly Mortgage Payment
$289 .......... Property Tax $150 .......... Special Taxes and Levies (Mello Roos) $28 .......... Homeowners Insurance $267 .......... Homeowners Association Fees ============================================ $2,310 .......... Monthly Cash Outlays
-$142 .......... Tax Savings (% of Interest and Property Tax) -$444 .......... Equity Hidden in Payment $18 .......... Lost Income to Down Payment (net of taxes) $42 .......... Maintenance and Replacement Reserves ============================================ $1,783 .......... Monthly Cost of Ownership
Cash Acquisition Demands ------------------------------------------------------------------------------ $3,330 .......... Furnishing and Move In @1% $3,330 .......... Closing Costs @1% $3,213 ............ Interest Points @1% of Loan $11,655 .......... Down Payment ============================================ $21,528 .......... Total Cash Costs $27,300 ............ Emergency Cash Reserves ============================================ $48,828 .......... Total Savings Needed
Property Details for 78 LAMPLIGHTER Irvine, CA 92620 ------------------------------------------------------------------------------ Beds: 1 Baths: 1 full 1 part baths Home size: 1,135 sq ft ($293 / sq ft) Lot Size: n/a Year Built: 2005 Days on Market: 15 Listing Updated: 40459 MLS Number: P755572 Property Type: Condominium, Residential Community: Woodbury Tract: Laca ------------------------------------------------------------------------------ According to the listing agent, this listing is a bank owned (foreclosed) property.
OPEN FLOOR PLANE 1 BEDROOM, 1.5 BATH WITH BONUS ROOM, LIVING ROOM, INSIDE LAUNDRY ROOM, RECESSED & UNDER CABINET LIGHTING, UPGRADED FLOORING AND COUNTERS, APPROX. 1135 SQ FT, ASSOC POOL, SPA, COURTYARD, BBQ AREA, TENNIS COURTS, PLAYGROUND, FIRE PT, FITNESS CENTER, HOA DUES $266.98 MO, CLOSE TO FREEWAYS, SHOPPING, PARKS & ENTERTAINMENT
0 comments:
Post a Comment
Note: Only a member of this blog may post a comment.