[jean pizzoferrato]

jean pizzoferrato

Good Morning Jackie
I have an idea about how I can do out of state investing and I want to get your thoughts & expertise. Is there a way I can invest in Lease Options with other investors I know in Georgia and Tucson, AZ. They would have to do almost everything but if there were back pmts. to make up, or helping them pay their mortgage like Jack suggested, or putting up money if repairs were needed, etc., do you think this is a good idea? If you do, how would we split the lease pmts. & the option pmts., or would this be negotiated with the other investor?

I will still do the investing in Mahoning County to build cash but this will be a way for me to get involved with investing for long term wealth. Since everyone is saying now is the best time to buy, I feel like I’m missing out on a great way to build wealth if I don’t invest in areas that are not losing population but gaining population.

Thx for the great ideas I know you will have –

Jean

P.S. I could also do all the mailings and take the phone calls and screen them. I have Vonage and it’s only $4.95 per month to add another phone number from anywhere in the country.

[Anonymous]

Anonymous

Jean,

I would be reluctant to invest outside of my area and I think you should be too. Both AZ and GA are experiencing some significant downturns in their markets. What is a good deal today could be a bad deal in 6 months. You really need to be on the ground to have a good feel for what’s happening in any market. For that matter, most areas are experiening big changes in their market. So, the best and safest place to do anything is your own backyard.

It is the best time to buy – or it will be next year for sure – but you can buy right where you are. I know you will probably be moving in a few years and you can always exchange in to other areas at that time.

Since your daughter lives in Georgia, maybe you can get some things going with her.

On the conference call on Tuesday, Jack warned about investing outside your local market. Most of the people who do are having some serious management problems which in turn case serious cash flow problems. You sure don’t need any additional headaches right now.

I know an investor in Pittsburg ( which is also losing population) – and he is able to get incredible seller finance deals with zero interest that he sells with a lease option. His cash flow is THROUGH THE ROOF! Your’s could be too right in Mahoning.

The grass is NOT always greener someplace else!

Jackie Lange