Well I made it out

[no_worries]

...No matter how you look at it; when you're buying real estate you're getting an APPRECIATING asset, often at a discount.

If I had 50 grand to spare, I'd buy a $500,000 multi-family building and hire a property manager to take care of the headaches with tenants. Something like this: MultiFamily

If you bought in a lot of areas 3-5 years ago, you might not see any positive appreciation in your lifetime.

I want to know who your lending source is. Who's writing commercial paper with 10 percent down? Most I've talked to are still sticking with the standard 10 year term. You can bet you'll never see interest rates anywhere close to today's when it comes time to roll that over.

[merrick4]

Well I had a truck and trailer stolen out of the yard last night. Truck is recovered already with no damage and trailer is missing.

Not sure what to expect now. This was my first trailer, so it is only a 2008 53 foot reefer (Wabash). I have a feeling they are going to find the trailer without the reefer. I don't know how they will proceed at that point but we will find out.

Main thing is trailer was empty. I do have rental coverage so will no more tomorrow when I speak with the adjuster.

[tracer]

If you bought in a lot of areas 3-5 years ago, you might not see any positive appreciation in your lifetime.

I want to know who your lending source is. Who's writing commercial paper with 10 percent down? Most I've talked to are still sticking with the standard 10 year term. You can bet you'll never see interest rates anywhere close to today's when it comes time to roll that over.

I'm in Canada. Things are different here. A mortgage broker I talked to said he wanted 5% down for a duplex, 6% down for a triplex, and 7% down for a fourplex. I'd be more interested in positive cashflow from the property than in appreciation.

[onesource]

You've done it now.. and all you need is to keep on keeping on > > > Good Luck *

I just discovered some Great News for "owner / operators" during these tough times !!

A Southeast Businessman is looking for about "12" honest dependable truckers (owner-

operators) that are interested in earning an extra $1,000 - $2,000 / month on a

consistant basis. Contact # is (888) 404-5550, Ask for Thomas.

Let your buddies know if any of them are interested.

[LightsChromeHorsepower]

Well I had a truck and trailer stolen out of the yard last night. Truck is recovered already with no damage and trailer is missing.

Not sure what to expect now. This was my first trailer, so it is only a 2008 53 foot reefer (Wabash). I have a feeling they are going to find the trailer without the reefer. I don't know how they will proceed at that point but we will find out.

Main thing is trailer was empty. I do have rental coverage so will no more tomorrow when I speak with the adjuster.

My condolences.

My boss & I joke a lot about whether trucking is worse than real estate.

[LightsChromeHorsepower]

I'm in Canada. Things are different here. A mortgage broker I talked to said he wanted 5% down for a duplex, 6% down for a triplex, and 7% down for a fourplex. I'd be more interested in positive cashflow from the property than in appreciation.

You will need a lot bigger down payment than that to get cash flow.

[no_worries]

I'm in Canada. Things are different here. A mortgage broker I talked to said he wanted 5% down for a duplex, 6% down for a triplex, and 7% down for a fourplex. I'd be more interested in positive cashflow from the property than in appreciation.

I was referring to your comment here:

"No matter how you look at it; when you're buying real estate you're getting an APPRECIATING asset..."

Must be a lot different there. Here you might swing less down on something up to a fourplex if it's owner-occupied. Anything over a fourplex is going to be commercial property. With the commercial market these days, good luck...even with 20% down. As LCH said, there are fewer and fewer markets every month where you'll get significant positive cash-flow with a minimal down. Maybe I need to move to Canada.

[LightsChromeHorsepower]

I was referring to your comment here:

"No matter how you look at it; when you're buying real estate you're getting an APPRECIATING asset..."

Must be a lot different there. Here you might swing less down on something up to a fourplex if it's owner-occupied. Anything over a fourplex is going to be commercial property. With the commercial market these days, good luck...even with 20% down. As LCH said, there are fewer and fewer markets every month where you'll get significant positive cash-flow with a minimal down. Maybe I need to move to Canada.

My properties are worth less every month. Rents are declining, my city utility bills for water and sewer are skyrocketing. Cash flow is disappearing. Buying a truck is actually starting to look intelligent. I'll take a WAG & say it could be a decade before they are worth what I owe on them. Unless we get into a high inflation scenario, which is not impossible by any means.

If you could find financing for small residential properties (non owner occupied) I'll bet you would need at least 25% down.

[no_worries]

Right now, on a small investment prop, I can get 1/2% over the owner-occupied rate with 20% down. However, that's much different than what it takes for an apartment building. I've been watching the investment property picture out here on the west coast and it's getting a little dicey. I'd hate to see what it looks like in some other parts of the country.

[sidman82]

Merrick, sorry to hear that, let us know how you make out with the trailer.

On another note, I just put a driver in my truck. I have my fingers crossed. Wish me luck.

I am now driving local here in Atlanta area.

[merrick4]

Strangest thing, police called and trailer is back in my yard. Total cost to me was $398 towing to the tow yard, $100 for new In Cab Monitor and I'll take care of the driver with his GPS.

Have no idea what they stole it for. I was talking to the DOT agent who found it and he said sometimes they steal things just to move stuff.

Amazed I have it back, especially down in Miami.

I must say I enjoyed the trip from Miami, back up to Broward with truck and trailer. Wouldn't mind taking another short road trip.

Hey Sideman, good luck with that truck and driver. If I understand are you driving local and sending your truck OTR?

[no_worries]

All's well that ends well, LOL

[lovely09]

Well.it's time to apply everything you've learned from driving school.The road is like our life.It has a journey with some struggles and risk but remember to be careful and keep safe as always.

[tracer]

I was referring to your comment here:

"No matter how you look at it; when you're buying real estate you're getting an APPRECIATING asset..."

Must be a lot different there. Here you might swing less down on something up to a fourplex if it's owner-occupied. Anything over a fourplex is going to be commercial property. With the commercial market these days, good luck...even with 20% down. As LCH said, there are fewer and fewer markets every month where you'll get significant positive cash-flow with a minimal down. Maybe I need to move to Canada.

Our rules are same here: if you intend to live in the property and it has four or less units, the banks will treat it as a residential property. "commercial" starts after 4 units. It's still possible to find good deals if you get away from big cities.

[sidman82]

Merrick, I am driving as a company driver local and my driver is running OTR.

He is on his way to Oregon right now. I decided to do this so I can take kids to Cub scouts, etc...

Rates are to crappy to have hometime.

When they get older I will get out again. New driver has grown kids, and not married. 42 yrs old, mature, nice attitude, clean mvr. He likes to run months at a clip. I think he will be happy.

[gcal]

cliff notes to this novel????

[merrick4]

cliff notes to this novel????

Cliff Notes would be, a guy drove a truck as he wanted to see the country and didn't know what else he would do at that moment of his life.

Realized that he enjoyed himself but can't make money with a big company. Bought own truck and did that for a bit but you are only going to do so much with that, long story short now is up to 8 trucks, has no life and works 24 hours a day. Well not every day but when the phone rings at 3AM it's NEVER good.

And really in summation, trucking is one brutal business. And that' no joke.

Will not be adding any more trucks at this moment and is reviewing applications for an assistant. And really as I run the trucks with friend's, we are really running like 25 trucks. This economy has pushed him to the brink of shutting down. He just got his truck payments deferred for 3 months which will keep him afloat for a while. Apparently a lot of people are doing that now.

Fortunately, though we run the trucks together we are two different companies and I do things my way and am not behind in any bills.

This year want to get more into brokering and factoring. As for the factoring, not even really with the trucks though I do that too, but would like to hook up with exporters and shippers who do not or can not wait 60 days or so to get paid from Walmart.

And I will say it again, as there are many who want to get into this business and own a fleet of trucks, this is one brutal business. You can have money in the bank, great accounts, fuel discounts, tire discounts shop discounts and one mental case driver can cause more problems then you realize.

[Orangetxguy]

Cliff Notes would be, a guy drove a truck as he wanted to see the country and didn't know what else he would do at that moment of his life.

Realized that he enjoyed himself but can't make money with a big company. Bought own truck and did that for a bit but you are only going to do so much with that, long story short now is up to 8 trucks, has no life and works 24 hours a day. Well not every day but when the phone rings at 3AM it's NEVER good.

And really in summation, trucking is one brutal business. And that' no joke.

Will not be adding any more trucks at this moment and is reviewing applications for an assistant. And really as I run the trucks with friend's, we are really running like 25 trucks. This economy has pushed him to the brink of shutting down. He just got his truck payments deferred for 3 months which will keep him afloat for a while. Apparently a lot of people are doing that now.

Fortunately, though we run the trucks together we are two different companies and I do things my way and am not behind in any bills.

This year want to get more into brokering and factoring. As for the factoring, not even really with the trucks though I do that too, but would like to hook up with exporters and shippers who do not or can not wait 60 days or so to get paid from Walmart.

And I will say it again, as there are many who want to get into this business and own a fleet of trucks, this is one brutal business. You can have money in the bank, great accounts, fuel discounts, tire discounts shop discounts and one mental case driver can cause more problems then you realize.

Pictures?

[Bigmon]

If I remember correctly, isn't your friend running off the CH Robinson boards?

[merrick4]

Well he was working with CH, I basically run the trucks now but he is not so good with managing money. I kept buying Freightliners and he's got fancy Kenworths. We've kept real busy; have good accounts but it doesn't matter what your income is if your expenses are more.

We actually still do a lot with CH, but we work with a lot of specialized divisions and really if the rate is not where it needs to be we don't take it. I'm on one now for them, St Louis to Savannah, GA dry for $2.00 a mile. Works for me and I don't have to worry about being paid. A lot of times I ask for another $20 or so to cover their quickpay fees.