Any home based business success stories out there?

[wheelsup]

Is there a way to find a foreclosuer list?

Wait another year or so. I bet there will be hundreds of thousands of foreclosures as interests rates go up and people aren't able to climb out of their I/O mortage debt. And with the new BK laws, people can't declare BK as easily, further making their situation more dire.

The problem, however, is with these I/O loans, no equity is being built. Purchasing a foreclosure won't be as profitable as it has been in the past...

And about Rich Dad, Poor Dad, he's a scam. But atleast his book makes you think about where you want to be. I personally don't like being tied to my company - I have a side business in web design that covers my monthly bills. If I were to get furloughed tomorrow, I wouldn't save much money, but I wouldn't be evicted, either. It's not a lot of money, but atleast I'm not totally dependent. I'm looking to get out of it, however, and purse something different. Real Estate has been the hot ticket lately, which means once everyone is doing it, I've already missed my chance .

~wheelsup

 

[psysicx]

In San Diego alone 40% of all mortgages are interest only. Ouch.

 

[stb]

porn, porn, porn...

Videos, toys, and noveltys.

It's a cash cow.

Serious money but zoning is the problem.

Escort service is also good.

 

[73-Driver]

Sounds like a good plan...if you want no peace.

[FONT=Times New Roman,Times,Serif]Going into business with friends or family? Prepare for disaster. If you're naive -- er, I mean optimistic -- enough to think you can make it work, be sure you can handle the business pitfalls that can damage a personal relationship.
[/FONT][FONT=Times New Roman,Times,Serif]Success breeds its own dissent; business with friends or family members gets even more complicated when dividing the spoils. Partners don't always contribute equal capital to the project. Often, one person supplies the idea and another provides the cash -- then the business takes off and becomes worth millions. If stock was divided unequally at the start, 20-20 hindsight makes smaller shareholders realize they should have twice the stake they were given. If the stock was divided equally, that same hindsight makes some shareholders realize they worked harder and deserve more stock. It happens every time.[/FONT]

Wow, you mean my investors may lose their money!? Maybe I should have explained this better to them?

Hopefully, if you have a well thought out and written buisiness plan your investors can make an informed decision as to whether or not the risk is worth taking.

Your points are valid and noted. However, your attitude is typical of those who are stuck in the "daily-grind" with a feeling of no escape and the notion that the possible is impossible! Maybe that explains why you state in your profile that your current position is "STUCK"!

 

[Gulfstream 200]

Thats great. I just don't like seeing people get ripped off.

psy, for $100/sqft in Socal you must be getting pure $hit.

$200 minimum, $300 more like it.

maybe sliding a bit due to some slowing down...but $85?...c'mon....whats the pay and QOL like at $85?

 

[TriStar_drvr]

psy, for $100/sqft in Socal you must be getting pure $hit.

$200 minimum, $300 more like it.

maybe sliding a bit due to some slowing down...but $85?...c'mon....whats the pay and QOL like at $85?

I think he's talking construction costs when he refers to $100/sf, and that's not too far off where I live. What you must remember is that you've got to have land to put that house on and that's why the price of real estate in California is so high.

Some builders here advertise an 1800 sf house built on your level lot for around 200k. Of course the cost for a level lot around here is 150-250k. That's where your getting the $200-300/sf figure for the cost of a house. Here in the Victor Valley, the average for all houses sold in December was $280/sf.

Now, back to the original thread, how can I make extra income so as not to be dependant upon the whims of airline management?

 

[Phaedrus]

Maybe that explains why you state in your profile that your current position is "STUCK"!

Wrong.

"I think the basic fault that underlies the problem of
stuckness is traditional rationality's insistence upon
'objectivity,' a doctrine that there is a divided reality of
subject and object. For true science to take place these must
be rigidly separate from each other. 'Your are the mechanic.
There is the motorcycle. You do this to it. You do that to it.
There will be this result.'
This eternally dualistic subject-object way of
approaching the motorcycle sounds right to us because we're
used to it. But it's not right. It's always been an artificial
interpretation SUPERIMPOSED on reality. It's never been
reality itself. When this duality is completely accepted a
certain nondivided relationship between the mechanic and
motorcycle, a craftsmanlike feeling for the work, is
destroyed. When rationality divides the work into
subjects and objects it shuts out Quality, and when you're
really stuck it's Quality, not any subjects or objects, that
tells you where you ought to go."
--Pirsig

Sincere good luck with your business. Are you by any chance a scientologist?

 

[73-Driver]

Wrong.
Sincere good luck with your business. Are you by any chance a scientologist?

Thank you! To answer your question no. Just a fan of stupid Avatars, Avataries, you get the point!

 

[psysicx]

Thank you tristar you are correct. The land is the expensive part since you need 20% down. Thats why I'm starting my business in Texas and not Socal.

 

[holdon]

Is there a way to find a foreclosuer list?

I would recommend looking at REO properties (Real Estate Owned) which are bank owned properties. These properties will come with a clean title and generally you can get a pretty good deal on them. However, it's a must to be hooked up with either a Real Estate Agent or a Banker to find these properties.

I can hook you up with a Top Agent in your area or an area you’re looking in at no charge to you. And remember when working with a buyers agent you don't pay a dime in commissions. So, if anyone is interested feel free to PM me. I have the ability to put in whatever criteria you want, Top Producer, been in the Business x amount of years, has sold over 15 million worth of Real Estate, someone that specializes in HUD, REO or Foreclosures, etc.....

As far as foreclosures, there are publications you can subscribe to (pretty costly) that put out weekly pubs on these properties in your area. In addition, as someone stated, with the market slowing and values dropping slightly (zip code dependent) a lot of these Negative am loans or interest only loans are burying people. The publications keep getting thicker and thicker.

 

[DCitrus9]

Physicx, each county publishes the list of foreclosures in a designated paper on Monday (or is it Tuesday) for four weeks leading up to the sale. The sale is on the first Tuesday of the month. I look them up on the paper's online edition for free, because no self respecting pilot will pay for the newspaper. As was mentioned, there are services that search through the records and provide you with a concise organized list, but I don't feel it is worth the cost. I have researched a large number of properties and it can be overwhelming. Atlanta has a huge amount of foreclosures, and they range from crumbling shacks to very nice homes. They are not all money makers, but there are some impressive deals if you know what you are looking at.

 

[GARFF]

imp:

Any home based business success stories out there?

www.garffshirts.com -Pilot uniform shirts

I ll let you know if its a success....cuz i just started it about a week ago.

 

[wms]

Is there a way to find a foreclosuer list?

The first one has other links to gov't homes as well.
http://www.hud.gov/homes/homesforsale.cfm
http://www.citimortgage.com/RetailTools/oreo/SearchListing.do
http://www.bbandt.com/applications/specialassets/search.asp
www.ocwen.com for VA homes.

 

[wms]

The other alternative which is a little bit more extreme is to move into the property that you are going to fix up and flip. When you sell it, take the profits and re-invest in your next property. This worked for us on our last two homes, but it can be quite trying.

Thanks. I think we'll try this method. We're finishing the unfinished areas in our present home and I think we'll go the live in 'em and fix 'em up route for the next couple.

 

[heywatchthis]

Why are Interest Only Loans so BAD!

Ok, Educate me. Why are interest only loans so bad.

Yea they have risk associated with them. But are the risk that bad.

EX. My first house. In CVG area bought a home for $114k. Got the typical 30 year fixed. Reasonable payments with all the escrow included. After 2.5 years I refinanced for lower interest rate. Yet after 2.5 years the principal did not go down any. NOT really much at all. I even made extra payments. It didn't do anything. So the second time around I got a interest only loan and my payment dropped big time. YEA BABY. I had extra income to pay off debt. 14 months later I loose my RJ job and sell the house to move to FL for a new job. Made about 11k profit after all fee's.

FL home. Bought a new FL house. Holy expensive. I moved from a $114k home to a $166k home. I could barely afford the home, and I new the chances of me retiring here were slim to none. So again I got the interest only loan. Payment was pretty high, but I managed. Low and behold 13 months later I am moving to IAH for another job. Sold the house for @249K. Hell yea, a profit of $67 after all fee's. Where am I going wrong here. My only regret is that I wish I would have gotten a bigger home in FL.

IAH house. So with $500 cash, Again I purchase a new home. Interest only 80/20 loan. Payments again pretty high. But wow look at the home I got. I am living like a king. Could this be my last house. Probably not. I will find out soon enough after my interview last week. Could be moving again.

On the 3 houses I have purchased in my lifetime, would the results have been different if I did a typical 30 year fixed loan? Yea the payment would have been different but the equity would not have changed much.

Sure there is risk that the market could go down. NOT likely,(stagnate maybe) but outside of that, If you can afford the payment - where is the risk?

Why are interest only loans BAD?