A whole lot of real estate investment entities have been advertising hot and heavy the last few years on radio. Make big bucks by investing in rental properties. They especially advertise and have hours long programs on weekends. Lifestyles Unlimited seems to be one of the biggest. Does anyone have any experience with these companies? Are they legit? Have you made money? Have you gotten screwed? The real estate market just like everything else has gotten hammered in recent weeks.

I have always heard after going to a "free first seminar" you have to pony up $10,000 to go to the second one. Not sure if true or not.

RD2WINAGNBEAR86 said:

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A whole lot of real estate investment entities have been advertising hot and heavy the last few years on radio. Make big bucks by investing in rental properties. They especially advertise and have hours long programs on weekends. Lifestyles Unlimited seems to be one of the biggest. Does anyone have any experience with these companies? Are they legit? Have you made money? Have you gotten screwed? The real estate market just like everything else has gotten hammered in recent weeks.

---

Don't need a company .

Just a reputable real estate agent who works for your best interests...not just to get a commission.

But personally I wouldn't own rentals in Texas .

Canada2017 said:

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RD2WINAGNBEAR86 said:

---

A whole lot of real estate investment entities have been advertising hot and heavy the last few years on radio. Make big bucks by investing in rental properties. They especially advertise and have hours long programs on weekends. Lifestyles Unlimited seems to be one of the biggest. Does anyone have any experience with these companies? Are they legit? Have you made money? Have you gotten screwed? The real estate market just like everything else has gotten hammered in recent weeks.

---

Don't need a company .

Just a reputable real estate agent who works for your best interests...not just to get a commission.

But personally I wouldn't own rentals in Texas .

---

I understand, my friend. UnGodly high property taxes in Texas make real estate investing quite a challenge.

RD2WINAGNBEAR86 said:

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Canada2017 said:

---

RD2WINAGNBEAR86 said:

---

A whole lot of real estate investment entities have been advertising hot and heavy the last few years on radio. Make big bucks by investing in rental properties. They especially advertise and have hours long programs on weekends. Lifestyles Unlimited seems to be one of the biggest. Does anyone have any experience with these companies? Are they legit? Have you made money? Have you gotten screwed? The real estate market just like everything else has gotten hammered in recent weeks.

---

Don't need a company .

Just a reputable real estate agent who works for your best interests...not just to get a commission.

But personally I wouldn't own rentals in Texas .

---

I understand, my friend. UnGodly high property taxes in Texas make real estate investing quite a challenge.

---

Exactly

RD2WINAGNBEAR86 said:

---

A whole lot of real estate investment entities have been advertising hot and heavy the last few years on radio. Make big bucks by investing in rental properties. They especially advertise and have hours long programs on weekends. Lifestyles Unlimited seems to be one of the biggest. Does anyone have any experience with these companies? Are they legit? Have you made money? Have you gotten screwed? The real estate market just like everything else has gotten hammered in recent weeks.

---

They make their $$$ from doing seminars not real estate investing.

midgett said:

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RD2WINAGNBEAR86 said:

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A whole lot of real estate investment entities have been advertising hot and heavy the last few years on radio. Make big bucks by investing in rental properties. They especially advertise and have hours long programs on weekends. Lifestyles Unlimited seems to be one of the biggest. Does anyone have any experience with these companies? Are they legit? Have you made money? Have you gotten screwed? The real estate market just like everything else has gotten hammered in recent weeks.

---

They make their $$$ from doing seminars not real estate investing.

---

That is kinda what I figured. I have never known anyone personally that ever bought into the program. I am hopeful that at least one huge success story will comment here.

Easy rules

A. Only buy newer or new properties
B. Upper end properties with higher rents bring better tenants .
C. Only buy properties that make sense.....positive cash flow .
D. Always put them on a 15 year mortgage note .
E. At least here in Colorado...everyone has a dog . 400 dollar non refundable pet deposit.
F. Never rent to college students .
G. Never rent by the room .
H. Never be a slum lord .

Canada2017 said:

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Easy rules

A. Only buy newer or new properties
B. Upper end properties with higher rents bring better tenants .
C. Only buy properties that make sense.....positive cash flow .
D. Always put them on a 15 year mortgage note .
E. At least here in Colorado...everyone has a dog . 400 dollar non refundable pet deposit.
F. Never rent to college students .
G. Never rent by the room .
H. Never be a slum lord .

---

And do like Canada and own several properties. The only way I'll ever get in the market is if I build an entire community and let a management company deal with the headaches. Renters suck. I want their money, not their *****

It's a great retirement plan ....... but I too prefer a property manager IF they'll only charge 10-15%

I'm trapped being property manager of one but fixing to turn it over to a property manager

Too high maintenance and I want to live my life

Great simple "instruction manual" type book is Building Wealth One House At A Time by John Schaub! He's in his 70's and done it since in his 20's. He's been through many recessions and can tell ya what's coming now if we have recession or worse. NOW could/should be a great time to enter IF rental property works in your area(IE 10-15 minutes from your home!). I don't want to manage my property but I do want to check on it's upkeep and call manager on questionable things(grass mowed, parking on grass, etc) so rentals need to be close. I also want to know my market inside and out as far as values and that works the closer to home I am

Lots to learn and can't learn unless you stop kicking tires and buy your 1st one

Canada is in financial position many here aren't when they first start so his checklist possibly won't work for other situations/people here.

John Schaub has $500 seminars(maybe in Texas but airfare to Tampa, where he lives and often has them is worth it!). His seminars ONLY have others that do this deal and no "seminar speakers" knowing nothing but used car sales. You're investing homes for tons of money and stand to make tons so spend a little but do it with "real deal" people giving seminars that know business inside and out

I've bought and sold probably 50ish(maybe more) since last bust in '08. Now have 12 rentals producing great monthly income based on initial cost(cash flowing very well!). You make your money buying. Then rent and appreciation. Blah blah blah ....

Could go on forever

PM me if you want

Canada2017 said:

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RD2WINAGNBEAR86 said:

---

Canada2017 said:

---

RD2WINAGNBEAR86 said:

---

A whole lot of real estate investment entities have been advertising hot and heavy the last few years on radio. Make big bucks by investing in rental properties. They especially advertise and have hours long programs on weekends. Lifestyles Unlimited seems to be one of the biggest. Does anyone have any experience with these companies? Are they legit? Have you made money? Have you gotten screwed? The real estate market just like everything else has gotten hammered in recent weeks.

---

Don't need a company .

Just a reputable real estate agent who works for your best interests...not just to get a commission.

But personally I wouldn't own rentals in Texas .

---

I understand, my friend. UnGodly high property taxes in Texas make real estate investing quite a challenge.

---

Exactly

---

I wouldn't be sure about that. You can make $ in Texas owning rentals. Just like anything else, you make $ when you buy real estate, not when you sell it. I prefer multifamily. It's been great. Now, is a little dodgy relative to the unemployment rate and ability for some tenants ability to pay rent. However, yes, Texas property taxes are crazy expensive. I got rid of my lake house because of that very reason. I now have a place in Colorado. Property taxes there are about $2K as opposed to $30K for my lake house for properties that had the relatively same value. That's a big difference.

PM sent. It's long so I had to break it into two parts.

BaylorOkie said:

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Canada2017 said:

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Easy rules

A. Only buy newer or new properties
B. Upper end properties with higher rents bring better tenants .
C. Only buy properties that make sense.....positive cash flow .
D. Always put them on a 15 year mortgage note .
E. At least here in Colorado...everyone has a dog . 400 dollar non refundable pet deposit.
F. Never rent to college students .
G. Never rent by the room .
H. Never be a slum lord .

---

And do like Canada and own several properties. The only way I'll ever get in the market is if I build an entire community and let a management company deal with the headaches. Renters suck. I want their money, not their *****

---

The vast majority of our renters have been great . There are headaches , but that is true with any business. We pay our eldest son 10% to manage our 26 rentals . My wife in turn manages him .

As said before, money is made on the purchase. Depending on how this corona thing plays out, there may be a really good window in the market for Acquiring houses at a good price.

About 10 years ago, I bought a two bedroom woodframe house for 40,000, rented it for $650 for five years, then I sold it for 75,000 to the tenant who lived there

Canada2017 said:

---

Easy rules

A. Only buy newer or new properties
B. Upper end properties with higher rents bring better tenants .
C. Only buy properties that make sense.....positive cash flow .
D. Always put them on a 15 year mortgage note .
E. At least here in Colorado...everyone has a dog . 400 dollar non refundable pet deposit.
F. Never rent to college students .
G. Never rent by the room .
H. Never be a slum lord .

---

This is from a multifamily perspective.
A) I never buy new or newer. There has to be value add to make $
B)Not really. The best performing properties we own are very middle income and primarily Hispanic
C)No, you buy properties with upside (hair on them)
D)I'm talking multifamily. We finance, generally interest only, rehab them, lease them up, raise rents and the refinance to take most of our equity out
E)Unfortunately, pet are lie people these days. They are part of the deal. Factor accordingly
F)Agree with this. Student housing is a serious hassle
G)Agree
H)Don't know what you mean by this. Somebody's slum is another person's palace.

J.R. said:

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Canada2017 said:

---

Easy rules

A. Only buy newer or new properties
B. Upper end properties with higher rents bring better tenants .
C. Only buy properties that make sense.....positive cash flow .
D. Always put them on a 15 year mortgage note .
E. At least here in Colorado...everyone has a dog . 400 dollar non refundable pet deposit.
F. Never rent to college students .
G. Never rent by the room .
H. Never be a slum lord .

---

This is from a multifamily perspective.
A) I never buy new or newer. There has to be value add to make $
B)Not really. The best performing properties we own are very middle income and primarily Hispanic
C)No, you buy properties with upside (hair on them)
D)I'm talking multifamily. We finance, generally interest only, rehab them, lease them up, raise rents and the refinance to take most of our equity out
E)Unfortunately, pet are lie people these days. They are part of the deal. Factor accordingly
F)Agree with this. Student housing is a serious hassle
G)Agree
H)Don't know what you mean by this. Somebody's slum is another person's palace.

---

JRs post is perfect example of different strokes for different folks

JRs model is multi fam and I'd guess Canada is single fam dwelling type guy

Gotta find your niche and gotta stop just kicking tires to do it

Every deal isn't a winner, especially starting out. With experience mistakes are fewer

Great thread

Major value here, especially for younger ones

I wish I'd started rental investing soon as out of college

J.R. said:

---

Canada2017 said:

---

Easy rules

A. Only buy newer or new properties
B. Upper end properties with higher rents bring better tenants .
C. Only buy properties that make sense.....positive cash flow .
D. Always put them on a 15 year mortgage note .
E. At least here in Colorado...everyone has a dog . 400 dollar non refundable pet deposit.
F. Never rent to college students .
G. Never rent by the room .
H. Never be a slum lord .

---

This is from a multifamily perspective.
A) I never buy new or newer. There has to be value add to make $
B)Not really. The best performing properties we own are very middle income and primarily Hispanic
C)No, you buy properties with upside (hair on them)
D)I'm talking multifamily. We finance, generally interest only, rehab them, lease them up, raise rents and the refinance to take most of our equity out
E)Unfortunately, pet are lie people these days. They are part of the deal. Factor accordingly
F)Agree with this. Student housing is a serious hassle
G)Agree
H)Don't know what you mean by this. Somebody's slum is another person's palace.

---

We much prefer single family properties. Lower HOA fees, greater appreciation, tenants stay longer .

Our properties range in value from $ 320,000 to $600,000. Out here that is upper middle class. primarily Anglo although we do have some Hispanic tenants and a black guy rents our most expensive house.

My team built half our properties so I prefer new or newer. Less repairs, greater appreciation potential , easier to rent .


Yeah everyone has pets.....might as well get the deposit .

I have seen too many leveraged investment property owners go broke in bad times ( same with farming ) . So we have paid off every property we own including our personal house ( 27 ) but two. Was planning to pay these last 2 off by June, but the oil crash changes everything up here. Interest rates on both remaining properties is only 3.5%. so we may hold off.

Slum lord to me: if I wouldn't be willing to live in it... I don't want to own it .

Canada2017 said:

---

Easy rules

A. Only buy newer or new properties
B. Upper end properties with higher rents bring better tenants .
C. Only buy properties that make sense.....positive cash flow .
D. Always put them on a 15 year mortgage note .
E. At least here in Colorado...everyone has a dog . 400 dollar non refundable pet deposit.
F. Never rent to college students .
G. Never rent by the room .
H. Never be a slum lord .

---

I have a rental home I'm looking to sell haha

I built it in late 2018. Great Tenets, $2k a month. Area is growing like crazy!

Check PM

What are you getting in rent?

Im curious because up here a newer $350,000/2,500sq ft house would rent for something like $4,000+ if you could find one. I dont even know what the rent on a $650,000 house would be but if we assume it is 4,500 sq ft probably in the range of $5,500 or more. Is there really a market for that? If you can shell out $4000-$6000/mo rent would be a pretty terrible decision unless a corporation was paying for it.

In my zip code there are 4 houses for rent, none of them would sell for more than 200ish. Least expensive is $1,640/mo for 1,130 sq ft in a house that looks like it is 50-60ish years old.

nein51 said:

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What are you getting in rent?

Im curious because up here a newer $350,000/2,500sq ft house would rent for something like $4,000+ if you could find one. I dont even know what the rent on a $650,000 house would be but if we assume it is 4,500 sq ft probably in the range of $5,500 or more. Is there really a market for that? If you can shell out $4000-$6000/mo rent would be a pretty terrible decision unless a corporation was paying for it.

In my zip code there are 4 houses for rent, none of them would sell for more than 200ish. Least expensive is $1,640/mo for 1,130 sq ft in a house that looks like it is 50-60ish years old.

---

We purposely under price our rentals so people stay .

It's move outs that cost money .

$ 1600$ 2300

RD2WINAGNBEAR86 said:

---

A whole lot of real estate investment entities have been advertising hot and heavy the last few years on radio. Make big bucks by investing in rental properties. They especially advertise and have hours long programs on weekends. Lifestyles Unlimited seems to be one of the biggest. Does anyone have any experience with these companies? Are they legit? Have you made money? Have you gotten screwed? The real estate market just like everything else has gotten hammered in recent weeks.

---

WWDSD?

Read "Building Wealth One House at a Time" by John Schaub and buy something small to get started then go from there

That's how I did it

Florda_mike said:

---

Read "Building Wealth One House at a Time" by John Schaub and buy something small to get started then go from there

That's how I did it

---

that takes $$$ - I would advise to go the adverse possession / squatting route.

do some research and then find the property.

and squat away!!!

- BUmma

{ sipping Lysol }

D!

william said:

---

Florda_mike said:

---

Read "Building Wealth One House at a Time" by John Schaub and buy something small to get started then go from there

That's how I did it

---

that takes $$$ - I would advise to go the adverse possession / squatting route.

do some research and then find the property.

and squat away!!!

- BUmma

{ sipping Lysol }

D!

---

Sounds like the Wyo way to the sheep life .

J.R. said:

---

Canada2017 said:

---

Easy rules

A. Only buy newer or new properties
B. Upper end properties with higher rents bring better tenants .
C. Only buy properties that make sense.....positive cash flow .
D. Always put them on a 15 year mortgage note .
E. At least here in Colorado...everyone has a dog . 400 dollar non refundable pet deposit.
F. Never rent to college students .
G. Never rent by the room .
H. Never be a slum lord .

---

This is from a multifamily perspective.
A) I never buy new or newer. There has to be value add to make $
B)Not really. The best performing properties we own are very middle income and primarily Hispanic
C)No, you buy properties with upside (hair on them)
D)I'm talking multifamily. We finance, generally interest only, rehab them, lease them up, raise rents and the refinance to take most of our equity out
E)Unfortunately, pet are lie people these days. They are part of the deal. Factor accordingly
F)Agree with this. Student housing is a serious hassle
G)Agree
H)Don't know what you mean by this. Somebody's slum is another person's palace.

---

Can I ask you a stupid question. How many units? Are you talking about a duplex or a 500-unit complex? Assuming something in-between, but are there many of those out there? Thanks.

And thanks to all of you - JR, Canada, Mike, etc., for sharing your expertise.

Canada2017 said:

---

william said:

---

Florda_mike said:

---

Read "Building Wealth One House at a Time" by John Schaub and buy something small to get started then go from there

That's how I did it

---

that takes $$$ - I would advise to go the adverse possession / squatting route.

do some research and then find the property.

and squat away!!!

- BUmma

{ sipping Lysol }

D!

---

Sounds like the Wyo way to the sheep life .

---

where's the boot?

PA.

- UL

william said:

---

Canada2017 said:

---

william said:

---

Florda_mike said:

---

Read "Building Wealth One House at a Time" by John Schaub and buy something small to get started then go from there

That's how I did it

---

that takes $$$ - I would advise to go the adverse possession / squatting route.

do some research and then find the property.

and squat away!!!

- BUmma

{ sipping Lysol }

D!

---

Sounds like the Wyo way to the sheep life .

---

where's the boot?

PA.

- UL

---

Probably with some lonely sheep herder .

I guess that leads to a financing question. How are you charging that little? Assuming at start up you didn't have cash for the outright purchase. If you financed the number you gave would be probably lower than a mortgage payment at 20% down.

Canada2017 said:

---

william said:

---

Canada2017 said:

---

william said:

---

Florda_mike said:

---

Read "Building Wealth One House at a Time" by John Schaub and buy something small to get started then go from there

That's how I did it

---

that takes $$$ - I would advise to go the adverse possession / squatting route.

do some research and then find the property.

and squat away!!!

- BUmma

{ sipping Lysol }

D!

---

Sounds like the Wyo way to the sheep life .

---

where's the boot?

PA.

- UL

---

Probably with some lonely sheep herder .

---

speak up, man - can't hear you.

the Mandalay lobby is packed - damn. never seen so many Chinese in my vida*.

caught the DFW SW Air connect and rode on in. Herb Kellher popped out of the cabin w/ a giant sack. Mini Wild Turkey shots for everyone. Damn!!

'Murrica is back, Baby!!!

Gaming tables are full, reservation lists are maxed out.

I'll be at Chez 'Bys on The Strip, c'est soir.

- BUmma

</ DSM>

* intermittently loca.

nein51 said:

---

I guess that leads to a financing question. How are you charging that little? Assuming at start up you didn't have cash for the outright purchase. If you financed the number you gave would be probably lower than a mortgage payment at 20% down.

---

I can charge less rent because all are paid off except one .

If someone pays on time and never bothers me that is worth 300 dollars a month .

Was making good money building and selling homes so we needed a write off plus houses to put clients . Usually put them on 15 year notes and put at least 35% down .

As the years went on money saved on taxes bought more rentals with every increasing down payments . By the time 15 years was up we had several paid off generating cash to pay off still others .

The ball just kept rolling .

Now with the El Paso farm sold last June we hope merely to hold steady while the economy here crashes from the oil debacle.

Have no doubt there are millions of folks doing far better ...but this works for us .

william said:

---

Canada2017 said:

---

william said:

---

Canada2017 said:

---

william said:

---

Florda_mike said:

---

Read "Building Wealth One House at a Time" by John Schaub and buy something small to get started then go from there

That's how I did it

---

that takes $$$ - I would advise to go the adverse possession / squatting route.

do some research and then find the property.

and squat away!!!

- BUmma

{ sipping Lysol }

D!

---

Sounds like the Wyo way to the sheep life .

---

where's the boot?

PA.

- UL

---

Probably with some lonely sheep herder .

---

speak up, man - can't hear you.

the Mandalay lobby is packed - damn. never seen so many chinese in my vida.

caught the DFW SW Air connect and rode on in. Herb Kellher popped out of the cabin w/ a giant sack. Mini Wilds Turkey shots for everyone. Damn!!

'Murrica is back, Baby!!!

Gaming tables are full, reservation lists are maxed out.

I'll be Chez 'Bys on The Strip.

- BUmma

</ DSM>

---

I believe every word of this . Doubly impressed Vegas opened up just for you and the other real men .

Canada2017 said:

---

william said:

---

Canada2017 said:

---

william said:

---

Florda_mike said:

---

Read "Building Wealth One House at a Time" by John Schaub and buy something small to get started then go from there

That's how I did it

---

that takes $$$ - I would advise to go the adverse possession / squatting route.

do some research and then find the property.

and squat away!!!

- BUmma

{ sipping Lysol }

D!

---

Sounds like the Wyo way to the sheep life .

---

where's the boot?

PA.

- UL

---

I guess it's where it belongs.

---

True dat -

Canada2017 said:

---

nein51 said:

---

I guess that leads to a financing question. How are you charging that little? Assuming at start up you didn't have cash for the outright purchase. If you financed the number you gave would be probably lower than a mortgage payment at 20% down.

---

I can charge less rent because all are paid off except one .

If someone pays on time and never bothers me that is worth 300 dollars a month .

Was making good money building and selling homes so we needed a write off plus houses to put clients . Usually put them on 15 year notes and put at least 35% down .

As the years went on money saved on taxes bought more rentals with every increasing down payments . By the time 15 years was up we had several paid off generating cash to pay off still others .

The ball just kept rolling .

Now with the El Paso farm sold last June we hope merely to hold steady while the economy here crashes from the oil debacle.

Have no doubt there are millions of folks doing far better ...but this works for us .

---

For sure having someone who pays every month on time has a huge value. Thanks for sharing. I've been trying to figure out how to do something other than work for someone forever.