John T. Reed’s news blog
REDDIT real estate investor leery of creepy agents want to lease his property
Posted by John Reed on
A REDDIT real estate investing group member asked this: . Anything to be weary of when leasing to two real estate agents?Renting my house to this agent couple. They mentioned they wanna buy it after but I was like hell no. This is a prime asset which is never gonna be let go. Is there anything to beware of with leasing a home in general vs condos etc? I just get a sneaky vibe from them. They seem too nice. It’s suspicious. Don’t want headaches after where they use ugly pressure tactics to make me sell to them Edit: Canada,...
A bunch of lawyer parents suing each other over Little League cheating.
Posted by John Reed on
Today’s WSJ has a front-page story about Little League cheating. My book Youth Baseball Coaching that explains how Little League coaches cheat—mainly by recruiting the fathers of first-round draft picks as assistant coaches thereby removing those players from the draft in leagues where that is allowed. Furthermore, I believe my book is the ONLY one that discusses cheating . The WSJ article makes it sound like maybe there was no cheating. . Bull! 1. The Little League rules are designed to insure parity of all regular season teams and parity among league post-season all-star teams. This is to be accomplished...
Profit from cosmetic rehab sought by a REDDIT reader is a myth
Posted by John Reed on
A REDDIT real estate investing group member posted this question:.Plan to buy a house that needs mainly cosmetic work with a FHA or conventional loan to put 3.5 - 5% down. Live in the house for 2 years while rehabbing. Then sell it avoiding any capital gains tax and use the profit and savings over two years for a 2-4 unit house hack. If market tanks then backup plan would be to rent it and buy another primary residence with savings over the two years, or just live in the house while saving money. The primary point of doin this...
REDDIT reader wants to know whether to buy negative-cash-flow triplex
Posted by John Reed on
A REDDIT real estate investing member posted this question..“I am planning on purchasing my first property. I am a registered nurse but have always dreamed of getting into real estate investing. I have found a triplex and am wondering if it would be a good investment. It is $180,000 in Arkansas. All three units total are bringing in $2000/month for the current owner. It doesn’t need any renovations at the moment. I plan on putting $15,000 down. Insurance is roughly $2000 annually. Taxes roughly $2400 annually. Renters pay utilities. The triplex is 15-45minutes away from several cities including Little Rock,...
How do you buy real estate with crypto? Should you?
Posted by John Reed on
A REDDIT real estate investing member posted this request for help. . “I'm in the process of purchasing my first real estate property in California, priced at $650k, and I've run into a somewhat unique and frustrating challenge. The seller and I agreed on a deal where $130k of the payment would be made in cryptocurrency. However, when we approached the bank to handle the transaction, they informed us that an Anti-Money Laundering (AML) check is required for the crypto portion of the payment. “This has put me in a difficult position. I completely understand the necessity of AML regulations...