Lord of the Land

**RealBuilder** · 11-12-2007, 07:06 AM

Hi I am RealBuilder,

I am a laid off airline pilot who for the last 5 years has built up a portfolio of rental homes. I buy the land, subdivide it into lots, build the houses and then rent them out.

**Jeremiah** · 11-20-2007, 08:16 PM

Well, how is business and were are you from.

**RealBuilder** · 11-21-2007, 07:29 AM

Business has been good in regards to renters. Housing and land prices have been relaxing however it is very difficult to find a cash out refinance.

My program is to build the house myself and to use the created equity as the down payment. Everything worked like a charm until this current lending crisis. Now I am stuck with a completed and rented house and am unable to get my money back out of it while another one sits idly near by that is half way finished.

Hopefully the lending market loosens up a bit this spring so I can get back to work.

RB

**Jeremiah** · 11-21-2007, 09:06 AM

With all the foreclosure activity going on the mortgage companies has tightened up. There is a program on the cost right now that will give 100% furnacing, but it is only good for this area. It is going to take about a year for the market to recover. We'll be back to business as usual soon enough. Hang in there.

**backgammonnn123** · 11-25-2007, 10:42 AM

I wish I would have done all of this before i lost my shirt in the stock market, but now im going into an internet venture that will get me back into the swing soon. I will then start to look for rental properties as i feel there are probably some good deals in this market.

**Jeremiah** · 11-25-2007, 12:52 PM

Originally Posted by backgammonnn123

I wish I would have done all of this before i lost my shirt in the stock market, but now im going into an internet venture that will get me back into the swing soon. I will then start to look for rental properties as i feel there are probably some good deals in this market.

An internet venture sound like a good idea. What kinda opportunity is it?
I have never gotten involved with the stock market. I have known people that have gone big and gone broke playing the market though. I have never had the courage to try it myself. There is a lot of different things to invest your money, however I do believe the best investment you can make is investing in yourself. Good luck.