Chat transcript for 4-18-04
Posted on April 18, 2004
Chat on 4-17-04 with Mike Summey and Roger Dawson … continues
Welcome to the chat, Ralph Roberts!
[Investment Chat]: Ralph Roberts has entered (7:56 pm)
Ralph Roberts: hi guys
[Investment Chat]: grlk has entered (7:56 pm)
Alan: here is my question
Alan: Hello Mike, I am a Dental Hygienist from Rochester NY and plan on moving out of here within the next two years to perhaps South Carolina. I have a Catch 22 situation in that I need money to move away and must establish myself in another state with a Hygiene license. Trouble is, I don’t want to mess around with Real Estate here in NY if it is going to trap me and put me in a Motivated seller position if I leave in the future {I know you should be near your investments} , yet I need money to leave. I know your system doesn’t flip properties, but I am wondering about my options. Should I wait on Real Estate or what?
Jim: You don’t need to be near your properties to be successful as long as you have a good management system in place
Alan: i know..i learned that from Russ Whitney
[Investment Chat]: Mike Summey has entered (7:58 pm)
Ralph Roberts: hi Mike!
Mike Summey: Hi everyone!
Jim: Hi, Mike
Alan: hi Mike!
Alan: Hello Mike, I am a Dental Hygienist from Rochester NY and plan on moving out of here within the next two years to perhaps South Carolina. I have a Catch 22 situation in that I need money to move away and must establish myself in another state with a Hygiene license. Trouble is, I don’t want to mess around with Real Estate here in NY if it is going to trap me and put me in a Motivated seller position if I leave in the future {I know you should be near your investments} , yet I need money to leave. I know your system doesn’t flip properties, but I am wondering about my options. Should I wait on Real Estate or what?
Mike Summey: It’s been a long day.
Mike Summey: Wow Alan! It took me a minute to read all that.
[Investment Chat]: Al Lee has entered (8:00 pm)
Alan: lol..Glad to serve you your first “puzzle”
Ralph Roberts: Big Al! Hi Al.
Mike Summey: This is a situation where you will have to make the decision based on what you feel comfortable with.
Mike Summey: Hi Al
Al Lee: Hey Mike. How are you.
[Investment Chat]: realeyz has entered (8:01 pm)
Mike Summey: Hi realeye
realeyz: hiya
Alan: hello
Mike Summey: Alan, personally I like to own properties near me, but Al has a deal where people can invest and not be close.
Alan: it is hard to tell right now…i am a beginner and want to start smart
[Investment Chat]: Jim_FletcherNC has entered (8:02 pm)
grlk: We ahve a situation we need advice on….We have been renting a home in Southern CA for 4 yrs now and have been waiting for the mkt to go down enough to buy (again) . We sold our last home here in this area in ‘99….our issue is we’re dealing with a GMAC relo. co. and need to know the proper procedures for putting in an early bid in w/GMAC b4 it becomes an MLS listing. We are VERY in investing in RE very soon and are looking to build equity to buy rental homes ourselves in the near future with this expensive rapidly increasing in value home we are in terested in buying now. Any suggestions anyone, especially Mike?
Mike Summey: Since I don’t know all your circumstacnes, it’s very difficult to advise you.
Mike Summey: Hi Jim
Jim_FletcherNC: hey mike… how are you?
[Investment Chat]: RealEstateApprentice has entered (8:03 pm)
Jim: My question - should you ever consider a purchase that doesn;t at least break even. The hot market in NY and the astronomical RE taxes make positive cash flow pretty tough.
Alan: is there something i can tell you that would give you a better read?
realeyz: mike I sent you an e-mail a few hours ago about city economics as they apply to RE investing
Al Lee: grik: I would be careful of making the assumption that a property or area that has apprecaited rapidly will continue to do that. That is the same thinking that everyoen had about stocks in 1999.
Mike Summey: grlk I’ve dealt with relo companies before & I’ve found that you can negotiate some great deals with the,
Al Lee: I like areas that increase STEADILY
[Investment Chat]: zzxcv has entered (8:04 pm)
Mike Summey: If you make an offer & it is lower than the relo co is asking, many times they will go back to the dompany they are representing and ask if they will accept the lower offer.
Mike Summey: Jim, I never buy properties that won’t cashflow. NEVER
Al Lee: Jim, I recommend NEVER accepting negative cash flow. Accept break even only if it is temporary.
Mike Summey: I just keep looking until I find ones that do.
Mike Summey: Hi zzxcy
realeyz: but how can you know cash flow will remain positive?
RealEstateApprentice: Question: IS it wise to invest in towhomes?
grlk: Even in this very rapidly increasing mkt where there’s 10 to 15 people bidding on each property? What about R.E. commission?
Al Lee: I think singel-family houses are the best
zzxcv: good evening Mike, I just finished reading your book this afternoon
Mike Summey: realeyz, I’ve been at this for over 25 years and I’ve never seen rents go down like prices occasionally do.
Ralph Roberts: tow homes = mobilemhomes
Ralph Roberts: mobilehomes, even
Al Lee: The intrinsic value of a property is 100 times one month’s rent. If you pay more you are facing possible deflation in the future
Jim_FletcherNC: Mike, do you have any pointers regarding trying to acquire RE long distance? I am interested in property in GA, but cannot get down there as frequently as I would like.
[Investment Chat]: Dean-nc has entered (8:07 pm)
realeyz: mike what areas are you referring to? all areas or only your own back yard?
Mike Summey: REA, I own several townhomes, but I don’t particularly like them because of the monthly fees and homeowners association rules that aren’t always the way I would like them.
Mike Summey: Hi Dean.
Ralph Roberts: wow… fast and furious tonight, we’re over 1,000 words already
Dean-nc: Hi
[Investment Chat]: Michael has entered (8:08 pm)
Al Lee: Hi, Ralph.
Jim: My next question - what is an appropriate annual rent increase, so you don’t drive away good tenants.
Ralph Roberts: hi Al
Mike Summey: Alan, I know several people who have made significant money flipping properties, I just don’t know anything about it because I’ve never sold a property.
Alan: ralph, any ideas on my quandry?
Mike Summey: Hi Michael!
Michael: I just got done listeneding to the WM program for the 4th time
Alan: i read that nice comeback in your book regarding capital gains taxes? pretty funny
Michael: I should have it memorized in two more attempts
RealEstateApprentice: Mike, I currently live in a townhome that I own and thougth I would rent tis place and buy somewhere else to invest, or vice versa and buy a home to rent and contineue to live here
grlk: What are creative ways to put a purchase together w/GMAC global relo services in general…anyone???
Mike Summey: Jim, I try to have a small increase each year 3-5%. I’ve never found this to be a problem until this past year. I think the interest rates over the past year have tended to suppress rents because so many habitutal renters have finally been able to buy.
Al Lee: Mike, many of those new buyers are getting their houses foreclosed and are becoming tenants again.
Mike Summey: REA, so long as you can make the numbers work…keep it.
Al Lee: Foreclosures are at record levels.
Jim_FletcherNC: Am I right by assuming that negotiating over the phone is less effective than a face-to-face meeting?
Dean-nc: is the record level because of the low int rates?
Mike Summey: For those of you who don’t know, Al Lee is a real estate expert from Dallas, TX & author of the book Income for Life from Real Estate.
Alan: Mike your next book shoul be Now I am a millionaire. How to Keep it that way…It would tell what to do with ythings you’ve accomplished, dos and don’ts, etc {I want !%}
Michael: DFW is a great market to buy homes in
realeyz: Mike or Al - are you guys familiar with marc stephan garrisons book “Unlimited RE Profits”
Al Lee: DFW is jsut about the BEST market
realeyz: and the Fifth Migration
Mike Summey: Jim, I like to use the phone to gather information and save the negotiating until you have an offer on paper.
realeyz: the Garrison Cycle
Jim_FletcherNC: I am interested in purchasing properties in South Georgia, but unable to get down there as often as I would like. Are there any pointers you have re: long-distance RE purchasing?
RealEstateApprentice: Mike, one last question: our family owns lots in the FL area and one of them has had inquiries from local agents asking to sell it to them. This has never happened before so is this an indication of this area being in high demand. I am in the Seattle area so FL seems so far away to invest and follow
Al Lee: realeyz: I am not
Mike Summey: realeyz, I’m not.
grlk: Are VA/FHA home sales easily found somewhere? What about VA/FHA foreclosures?
ealEstateApprentice: it was my dad’s investment he made decade ago so now I have it after he passed away
Alan: Should I use a VA loan to get started?
realeyz: he also founded NAREI - National Association of RE Investors
Al Lee: Alan, what is the interest rate on the VA loan?
grlk: Jim Fletcher: Join a RE investors group where they have good RE agents working for people long distance. You can find them on the internet.
realeyz: www.narei.com
Mike Summey: REA, if you don’t need the money from the lot, why don’t you offer it for sale at a ridiculously high price and see what happens. You’ll soon find out how much demand there is in the market.
realeyz: he talks about 4 stages every market goes through…
Jim_FletcherNC: Thanks, grik
zzxcv: Mike/Al - being new the concepts are still fuzzy, but do you think that obtaining 8 properties over the next 2-3 years is a realestic goal?
Alan: I don’t know but I have bad credit and think that I can get myself together if I go this route
Al Lee: grik and Jim Fletcher: try www.Renthouses.org
Mike Summey: Jim, there is also a listing of all the real estate investing clubs in the country on this site.
RealEstateApprentice: What should i expect or be advised in terms of agent fees to sell?
Mike Summey: zzxcv this is very realistic.
Al Lee: zzxcv, I know one guy who bought 40 in the last 4 years
[Investment Chat]: realeyz has entered (8:16 pm)
[Investment Chat]: dawn has entered (8:16 pm)
Mike Summey: Hi dawn
Jim_FletcherNC: Thanks, AL.
dawn: Hi
Mike Summey: zzxcv, I bought 65 in one year back in the mid 90s.
Jim: Has anyone been able to get financing on the appraised value of a property. If so, who does this now? Typical financing here is on the lower number between the appraisal and sales price. This prevents you from getting cash at closing.
zzxcv: wow, I guess 40 is possible, but again everything is fuzzy thanks
realeyz: mike have you ever purchased anything outside your own back yard?
Alan: I think Seller financing and VA loans are my only hope this early
Al Lee: Alan, is your credit good?
Mike Summey: realeyz, I own properties in two locations…Asheville, NC and Anderson, SC.
Al Lee: Hi, Dawn
dawn: Mike, thank you for speaking at the L.Annex yesterday. Can you give advice on how to find a good property manager?
Alan: No, I am repairing it now thouigh. I hope to get it good in a couple years
[Investment Chat]: TT has entered (8:19 pm)
Jim_FletcherNC: Mike, do you think the tri-cities area of NC is a good area?
Mike Summey: zzxcv, I realize how everything can seem fuzzy, but investing in real estate is like learning to walk…the more you practice and learn the clearer everything becomes.
Mike Summey: Hi TT
grlk: Any advice on how to quickly improve on a FOCI score that has no bad but very little credit total?
Alan: What about stagnant Rocher NY…Should I even bother? I heard horror stories.
TT: Hi
Mike Summey: Jim, from what I know of the area, it is very good.
grlk: I meant FICO score
Alan: Rochester
Al Lee: grik, I have a link to a website for Fair Isaac and it give advic eon fixing your score. I just don;t remember the URL right now.
Alan: suze orman gives good advice too
grlk: Thank you Al, I’ll do a search later on that. Also thank you Alan.
Jim_FletcherNC: From a strategy standpoint, is an all-cash offer a good technique to use as an opener, or as a final offer?
Mike Summey: grlk, Suze Orman has a great book that has specifics on how to improve you FICO scores. I’ll give you the name of it in just a minute.
Al Lee: grik, actually there is a lik to the free advice on my website, just click the FICO link. I added it some time ago.
Mike Summey: Jim, that depends! What if the seller doesn’t want cash?
Alan: I small money offer to make them look at you more seriously is a good tactic..put it in escrow
Al Lee: Fair Isaac is the company that invented the FICO, Fair Isaac COmpany score
Mike Summey: Suze Orman’s book is The Road To Wealth
Alan: $1K attached to your offer sheet
grlk: Al Lee: Is your website ALLEE.COM?
Mike Summey: It is about 600 pages of questions and answers on just about everything financial.
Alan: She’s one smart chick
Al Lee: no, www.RentHouses.org
Jim_FletcherNC: Thanks, Alan/Mike
grlk: Great! We’ll look all the above up.
Jim_FletcherNC: Mike, did you get that KingAIr???
Mike Summey: JIm, not yet…still looking.
Dean-nc: oops
Jim_FletcherNC: When I chatted with you recently, I didn’t mention that I am a pilot too.
Alan: I like Mike’s advice..Also Suze, Russ Whiney, and David Bach
ike Summey: Dean, is that all you have to say?
Jim_FletcherNC: LOL
Dean-nc: Im still taking it all in
Alan: He spilled his beer
Mike Summey: Jim, what do ytou fly?
Jim_FletcherNC: An Airbus 320
Mike Summey: Too big for me!!!!
Ralph Roberts: nice little puddler jumper 
Jim_FletcherNC: Airlines… flew F-106s, F-4s, and F-16s in another life.
Mike Summey: Did anyone have an offer accepted this month?
Alan: So Mike, you are doing seminars this week I see. What are you doing to enjoy yourself?
Al Lee: Mike, I am following my own advice and selling my big house to take all the equity out and buy more rent properties.
Jim: No, but i’ve had several rejected
Mike Summey: Alan, I did a seminar in NY yesterday…about 500 people.
Al Lee: Got a contract and got the seller’s loan approval this week.
Jim_FletcherNC: Tried to get in touch with finance co to negotiate a home that was going into foreclosure, but the people in the house declared bancruptcy and am trying to figure out the next step
[Investment Chat]: housemonger has entered (8:28 pm)
Al Lee: I will buy about 40 new houses with the cash.
Mike Summey: I have to go back to NY Tuesday for several media events this coming week…no speeches.
Mike Summey: Hi housemonger
Alan: NYC..that would be nice if you came to Rochester.. Can I convince you?
housemonger: Hi everyone. - Hi Al. Heard you’re shoe today - you rule.
grlk: OK, another question…How do we stay put in our property we are leasing for 4 yrs(and now they want to sell) and make an offer to GMAC? How would we go about trying to make an offer? Any ideas? It isn’t yet listed on MLS but they’ve chosen a realtor.
housemonger: SHow, that is!
Alan: I want to hear more fishing stories and the like
Jim_FletcherNC: How is the Rochester market? I get up there occasionally
Al Lee: housemonger, thatnks. You must be from North Tex. ???
Mike Summey: Alan, I’d love to visit, but this week I am booked so heavily I’m trying to find time to sleep. They even have me booked from 3:00 - 5:00 Am Thursday morining on the Joey Reynaolds show. Airs in 225 markets.
housemonger: Yes, DFW Market - we have some Yankes there, eh?
Alan: Honestly, I heard it is stagnant, but I don’t know for sure. my first homework weekend starts in May..Unless Mike can say why I shouldn’t be doing this
Al Lee: I am a former yankee. I got to Texas as quick as I could though.
Jim_FletcherNC: Lots of halfbacks here in western N. Carolina
Alan: I hear ya, Mike and Al…
Mike Summey: grlk, I’d just make the offer to GMAS & see what they do.
Jim_FletcherNC: A halfback is a Yankee who goes to f
Jim_FletcherNC: Florida and then comes half way back up here to NC
Al Lee: We used to see bumper stickers that said: “Welcome to Texas, Now go Home”
housemonger: Al, of course for the great real estate deals. I’ve seen informercials for that Carlton Sheets guy - your book offers a REAL plan for me , from what I hear?
Alan: Tell the bookies to lighten up! You have to enjoy yourself as a self-made millionaire right? YOU call the shots!
Alan: lol
grlk: Thank you very much Mike. Any ideas on the VA/FHA question?
Mike Summey: Alan, keep up the preparation. Just remember, there are deals in all markets…some are just harder to find than others.
Alan: I ordered Carlton Sheets and it never came!! This was in November
Jim_FletcherNC: The Carlton Sheets course is a great course
Mike Summey: grlk, I missed it.
Mike Summey: things get to moving too fast sometimes.
Alan: Going to Russ on Tuesday to see what their team has to say.
housemonger: Hey Alan, I also hear he went Ch 7 - you’ve justhelp pay his legal
Alan: Wish I had it..Maybe Mike will put in a good word for me when he golfs with him again.
grlk: I understand….Any ideas on how to purchase/assume VA/FHA homes?
zzxcv: Alan - You have mentioned Rochester a few times. Are you from WNY?
Alan: For what..you calling it a scam?
Mike Summey: Alan, Carleton’s program is very good, but it covers a wide array of techniques. The Weekend Millionaire primarily deals with a buy and hold strategy to build an income stream.
Alan: Yes…!!!
Alan: I like your ideas, Mike….just unceratin where to step until I get down to SC
housemonger: Al, you mentiond a seminar on May8th - should I attend?
Jim_FletcherNC: Mike and Roger’s book is a fantastic book that dovetails nicely with a lot of Carlton Sheets techniques/etc
Mike Summey: Alan, I went to Russ Whitney’s program here in Asheville a couple of weeks ago just to see what it was. It’s very different from what I do.
Al Lee: housemonger: Yes, I am glad you were paying attention. On the air you never know if anyone is listening. It is in Dallas at the Anatole. Do try to come.
Alan: I want to take a BEST of approach to all this..I saw one difference between you two
Mike Summey: Alan, there is a link on this site to Carletons. It is the “Real Estate Tool Kit” link on the home page. I’m sure if you ordered the course and did not get it that someone dropped the ball. They are usually very good about shipping.
Alan: dealing with Property Managers early…I agree with you on this, but people say that until you evolve you should cut down on the costs
[Investment Chat]: grlk has entered (8:38 pm)
grlk: Another question..Any ideas on how to buy this home ($700,000) with a low FICO and 100% financing and possibly interest only loan?
dawn: Mike, do you have any recomendations on how to best obtain financing when you have less than 10% to put down?
Mike Summey: grlk, NO
Jim_FletcherNC: Do you ever find yourself having to take a tenant to court for not paying their rent (breach of contract)?
Al Lee: dawn, if your credit is good I have a source for up-to 95% investor financing for up to 4 properties
grlk: I guess we just have to get that FICO score up asap
Jim_FletcherNC: Or is it worth the time/effort?
housemonger: Mike, are you serious, you should thry Al’s buy and hold technique - then we can both retire young together.
dawn: my fico is in the high 700s
dawn: thank you Al - would appreciate any info
Al Lee: dawn, what state are you in and what state is sthe proeprty in?
dawn: I’m in NY and property is in FL…it has a tenant in place
[Investment Chat]: gloworm has entered (8:40 pm)
Mike Summey: dawn, when you can find some owner financing, you can often get 100% financing by usine a small bank 1st loan and a larger seller 2nd.
Mike Summey: Hi gloworm
Alan: Where in nY Dawn?
dawn: nyc
Al Lee: dawn, I graduated from Seward Park Sr. high in 1963
Mike Summey: Dawn, FICO scores only go to 850 and the top bracket is 720-850.
gloworm: Hi - I invested in condos for retirement, but hte HOA’s are killing me, any advice for DFW?
[Investment Chat]: Penny has entered (8:41 pm)
Mike Summey: Hi Penny
Ralph Roberts: hi Penny!
dawn: Al is that near NY? i grew up in LI
Penny: Hi Mike and Ralph
Alan: I’ve decided to buy here….I can’t wait any longer…no I’m not impatient…I want to see my name on those shiny orange business cards
Al Lee: gloworm, I advice all our club members to stay away from codos. Do a 1031 and get into SFH
housemonger: Howdy penny
gloworm: Hello Penny
Al Lee: dawn, it is on Grand St downtown. Near the Brooklyn bridge
Penny: HI
Mike Summey: Alan, just remember mistake # 1 is Being Impatient.
dawn: oh! I used to run down there. They redid the whole park near the river
gloworm: Sounds good - he y change the rates, and the specials assessmentas aren’t so special!
Al Lee: dawn, did the fix it so you don;t need a bullet-proof vest to walk?
housemonger: I agree gloworm - you should read Al’s book -
dawn: hope you bought in that area w the LES is doing greatlan: I knew you were going to come after me with that which is why I padeed my statement..I guess I don’t want to be inactive in this anymore
Jim_FletcherNC: Question: If you purchase with seller financing with a balloon, can I expect a possible neg cash flow because of the higher int rates we can expect in the future???
Alan: padded
dawn: Al, no bulletproof vest needed now –at least during daylight. Why do you advise against condos?
Al Lee: With rates where they are now I am getting alsl the 30-year fixed-rate loans I can
Jim_FletcherNC: (After the refi)
[Investment Chat]: housemonger has entered (8:45 pm)
Al Lee: dawn, the HOA is very powerful and can become a terrible problem to an investor. ALso expensive dues
[Investment Chat]: billy has entered (8:45 pm)
Mike Summey: Jim, I wouldn’t expect a negative cashflow. If you have to refinance is a few years, your rents will probably have increased considerably due to rent increases.
Ralph Roberts: welcome billy
[Investment Chat]: guesswho has entered (8:46 pm)
Mike Summey: Hi Billy
Mike Summey: Hi guesswho
guesswho: HI Mike
housemonger: Jim - depends on the terms of the seller refi doesn’t it
guesswho: I listened to your material, it was very good
Mike Summey: Thanks.
billy: hello all, heard you on the radio in n.y. today
Jim_FletcherNC: if int rates go up, it seems that a refi with the bank may kill my cash flow
Alan: Couldn’t he make a home improvement and raise the value too? Forced appreciation?
gloworm: Al, how do I get out - can’t I lock in HOA rates - or pass tehm through to the investor?
gloworm: I mean to the renter
Mike Summey: Jim, I’m afraid that if we continue with the federal deficit we are currently running that the competition for money from the government may push rates up, but the economy seems to be rebounding and that may fix the problem.
housemonger: Yes, but if rates go up, then you release at higher rates, yes?
Al Lee: gloworm, there is a whole chapter in my book about HOA’s, rent controls, and the like. I recommend that you just avoid them (the bad ones) and use the Section 1031 provision to get rid of properties in a problem HOA or rent controlled area and buy better properties. You can nto fix those problems
Alan: Al, you have a book?
[Investment Chat]: realeyz has entered (8:49 pm)
gloworm: OK - With everyone from NY here, what is the best market in your opinion for SFH investing?
Jim_FletcherNC: 1031s are a good thing
Al Lee: Alan, yes, it’s at www.myrentproperty.com or www.renthouses.org
housemonger: I head yo umention your book but missed the URS for your website where Icould get it for $20 off?
[Investment Chat]: JamieNC has entered (8:51 pm)
Al Lee: gloworm, I contend that North Texas is the best market in the US and I have a list of reasons.
Alan: beautiful..what was your specialty?
Mike Summey: Has anyone checked out the audio programs that were added to this site this week. We are working to get audio clips from each of them on the site so you can sample them before you buy.
Mike Summey: Hi Jamie
[Investment Chat]: grlk has entered (8:51 pm)
JamieNC: Hey folks!
Al Lee: housemonger, the one I ge will get you the $20 off myRentProperty.com
Mike Summey: Where ya been?
gloworm: Where can I get a list of your reasons?
JamieNC: Working my Real job
grlk: We were on B4 but had to go for 5 min.
Alan: Mike, what more do you add that wasn’t in the book?
Mike Summey: Okay, thats a good excuse.
housemonger: HI JAmie
Al Lee: gloworm, it is too long to give here, but if you contact me I will send you a link
Jim_FletcherNC: real jobs are a bummer….
gloworm: Hi Jamie
JamieNC: Hey
gloworm: CAn you give me the link here?
Mike Summey: Anyone on from NYC
dawn: yes
guesswho: Mike, do you invest in apt boildings
JamieNC: which link gloworm
Alan: dawn
guesswho: buildings
housemonger: Al is form NY but got here as quick as he could
Al Lee: gloworm, just go to www.RentHouses.org and click the email Al button and I;ll send it to you. I have to go look up the correct spelling
Mike Summey: I’ll be on the Good Day New York show on Channel 5 this coming Friday morning. Hope you can catch it.
dawn: Mike what time??
Mike Summey: guesswho, yes I have several dozen apartment buildings.
Jim_FletcherNC: What part of Dallas is a good area for properties?
Alan: Your audois the same then? Hey Ralph, you asleep in that booth?
guesswho: in your opinion what do you like better apts or sfh
Al Lee: Mike does a great job on these TV interviews. I think the world is starting to realize that real estate is the best way to build wealth
grlk: Anyone ever had experiences w/Marshall Reddick’s RE investing group? Any good results there? Also, we want to know if anyone is interested in Equity sharing this home we want to buy for a short maybe 1 yr period….It has risen in value $70K since Dec and shows no sign of stopping. FYI: our e-mail is
guesswho: i have several sfh and was thinking of getting into apts
Alan: I’ll wave at you through my tv screen
JamieNC: Mike I know this isnt part f the weekend mill. program but have you ever used lease purchase to sell a houseIf not mike Al have you?
Mike Summey: Dawn, I think it will be in the 7:00 - 7:30 half hour.
Ralph Roberts: nope… still heah
housemonger: Jim - do you knw the market - its hot
dawn: thanks. looking forward to catching it
JamieNC: oops
housemonger: Mike - are you coming to the big seminar in Dallas - Al is giving a presentation
Alan: Mike, you ever get nervous? What’s your biggest RE mistake?
Al Lee: Jamie, I have used a lease with option to buy to encurage tenatns to take better care of the property, but not a single one has ever bought.
Mike Summey: No he hasn’t invited me!
amieNC: thats good though right Al?
Al Lee: Mike, you are invited! Actually, you have a standing invitation anywhere I go.
Jim_FletcherNC: What part of Dallas is hot?
housemonger: In tht case, AL, doyou have reduced repairs when they leave?
[Investment Chat]: denmage has entered (8:56 pm)
Mike Summey: I’m going to be speaking at the big Learning Annex event in NY on October 16 & 17 with donald Trump, Rudy Guliani, Robert Kiosaki and Suze Orman. I hope you will all try to attend.
Mike Summey: Hi demange
Al Lee: house… It did not really have much effect, but I guess it made the place more attractive to lease because they had the illusion that they might own it some day
gloworm: Who would suggest handle my 1031 - can I find out about this on t=your web site?
Mike Summey: They are expecting over 20,000 people to attend.
housemonger: hi denmag
Alan: Damn! When is this Mike! What’s the cost?!
Al Lee: Jim F… Actually, Fort Worth is the very hottest at this time and has been for about a year.
denmage: Hi Mike, sorry I couldn’t make it sooner. I figured I would log on and grab the transcript while the chat is winding down.
JamieNC: Mike I told the MREIA about you. Did you get a call?
Jim_FletcherNC: ok, thanks, Al Lee
Al Lee: gloworm, lots of people can do it, but there is a large nationwide company that specialized in 1031 on the website, yes
Mike Summey: Alan, log onto learningannex.com and the details will be there. I’m not sure they have specifics on the site yet, just the dates. There will be more closer to the event.
Alan: This in NYC I suppose?
housemonger: Jim - I’m cash flowing, and I didn’t know what I as doing wrong until I heard Al’s book - I can’t wait to fix my mistakes
Jim_FletcherNC: Lots of 1031 companies Google!
Mike Summey: Jamie, No, I haven’t heard from them yet.
JamieNC: Jim Fletcher…where in NC?
Mike Summey: Alan, yes.
Al Lee: house.. What were your biggest mistakes? Don;t embarrass yourself, though
grlk: Sorry to keep butting in w/my questions but does anyone have any interest in equity sharing a So CA home which risen in value $70k since Dec and shows no signs of stopping? for perhaps 1 year only?
Jim_FletcherNC: Fletcher!!!
gloworm: Thank you, I’m going there now
Alan: Kiyosaki I find is more motivational than hand-on…but at least his assets speech woke me up
Jim_FletcherNC: Fletcher, NC about half way between Asheville and Hendersonville
JamieNC: oh ok haha
realeyz: I like his Cashflow 101 game
housemonger: Yea, exciting, but does he tell me HOW TO MAKE MONEY?
zzxcv: gotta go - thanks everyone for the information
housemonger: AL, you tell us HOW, right?
Jim_FletcherNC: JamieNC…. where are YOU???
Dean-nc: Jim, are you a CREIA member?
ealeyz: yes - buy real estate. 
guesswho: mike what do you like better apts or sfh’s i.e 6 sfh or 6 plex
Mike Summey: I spoke with Dolf DeRoos yesterday. He is one of the Rich Dad Advisors, I invited him to join us tonight, but I guess he couldn’t make it.
JamieNC: Davidson (n. charlotte)
Alan: I tried to buy it on Ebay for under $100 but unsucessful…Too much money
Mike Summey: by zzxcv
[Investment Chat]: StPete has entered (9:01 pm)
[Investment Chat]: Alan has entered (9:01 pm)
gloworm: cute turtle - oh tortoise - thatnk’s for the info - how is the interest rates increase going to effect my investments
Mike Summey: Hi StPete
Jim_FletcherNC: No… I NEED TO GET INVOLVED WITH CREIA … please tell me how
Al Lee: I will be on the stage with Kiyosaki briefly at the Dallas show
realeyz: Kyosaki in his tapes and such is very redundant
StPete: good evening
Al Lee: Thanks, I didn;t draw that tortoise, but he is cute!
Dean-nc: Call me tomorrow 645-5761
Mike Summey: Jim go to the investment clubs on thei site and look up CREIA. All the contact info is there.
denmage: Kyosaki may be redundant, but repetition is the best form of reenforcement.
Alan: From tape to tape yes..I got only marginal info
Jim_FletcherNC: ok…. Thanks, Dean-nc
realeyz: of course…..but certain things are already ingrained though.
housemonger: reputation doesn’t mean cash flow - Al, you mentiond data on yur ivnestors performance?
Jim_FletcherNC: OK… Thanks, Mike
JamieNC: Mike it seems as if you have really developed a great following
Dean-nc: stpete , are you in fl
StPete: yes
Alan: Yes, but redundancy can be had from various investors out there with books and you get the same info for most part…suvcess doesn’t change..it had a foundation. I wish Robert can tell specifically rather than telling how special his fathers were
Jim_FletcherNC: Mike is “THE MAN”!
housemonger: Mike, do you have an ivnestor club that offers discounted services
Mike Summey: Thanks Jamie. We’re trying to help as many people as possible.
Dean-nc: I left there 3 years ago, wish I kept my house there
[Investment Chat]: Roger Dawson has entered (9:04 pm)
Al Lee: housemnger, I think you are referring to the statistical chart of last year’s investments. It shows an average rent of 1.11% of price, which is mostly on brand new houses. Proves you can do it.
housemonger: Hi roger
guesswho: hi roger
Mike Summey: Guess who just showed up!
Mike Summey: Hi Roger
Jim_FletcherNC: Hey Roger
Al Lee: Hi, ROger.
Ralph Roberts: hi Roger!
JamieNC: Hey Roger
grlk: Hi Roger, we talked to you yesterday at the book store
[Investment Chat]: bob wire has entered (9:05 pm)
housemonger: Mike - do you have similar data to Al’s
[Investment Chat]: Alan has entered (9:05 pm)
Mike Summey: housemonger, No I don’t have such a club.
Mike Summey: Hi bob
realeyz: the trouble I am having in reading many different books on RE is cross referencing much of the advice
Roger Dawson: Sorry to be late. Just got to Palm Beach.
gloworm: Hi bob and alan
realeyz: the good part is that much of the advice is the same
[Investment Chat]: Alan has entered (9:06 pm)
Alan: Hi Roger
Jim_FletcherNC: oh yeah… just go ahead and brag, Roger… LOL
Al Lee: Mike’s data woeul be on his own proeprties and I’ll be the numbers woudl blow your head off!
[Investment Chat]: Alan has entered (9:06 pm)
Mike Summey: Having a problem Alan?
Alan: Anything giving u trouble realeyz?
Jim_FletcherNC: The principles of success don’t change
Mike Summey: You’re right about that Jim.
realeyz: yes…primarily right now the regional economics of RE investingh
Alan: No, I have been in the room the whole time. I have no idea why it is doing that.
[Investment Chat]: RJ has entered (9:07 pm)
Mike Summey: Roger is probably suffering jet lag. He flew from LA to Fla today.
Roger Dawson: At a book signing in Orange County,
Mike Summey: Hi RJ
Jim_FletcherNC: So, if you have to hear them over and over, then MAYBE they will eventually sink in (I am soooo hard headed)
Jim_FletcherNC: I don’t want to hear about jet lag
guesswho: i listened to your material roger - it was great, what book do you have out
JamieNC: Do property managers all charge 1% or do they dicount after like 10 homes? I am trying to get up the nerve to hire one but very nervous they will not do the job as well as I.
Alan: Good, let’s bombard him with questions while his defenses arte down.
housemonger: I’m learning all this as i go, ! like the slow stady approach after all the money I lost in stocks
Roger Dawson: Ca yesterday, people were telling me there is no negotiating. You’ve got to pay full price or more. That’s fine, just run the numbers and be sure it makes sense.
Mike Summey: Jim, I’ve listened to Roger’s tapes probably 25 times…and made millions with what I’ve learned.
[Investment Chat]: Alan has entered (9:08 pm)
Alan: Again with the ENTER
Al Lee: Jamie, a good property manager will do the job far better than yoiu could’
[Investment Chat]: pattymelt has entered (9:09 pm)
JamieNC: seems like they only put a sign in the yard and put on website and nothing else to advertise
Jim_FletcherNC: ARe Roger’s tapes available on this site, Mike?
Dean-nc: goodnight guys, guess i’ll read what I miss tomorrow
Al Lee: Hi, pattymelt
gloworm: I’m retired, can’t I manage them myself
Roger Dawson: Beware the agent who says he’s a property manager. You’re looking for a full time property manager.
Mike Summey: Jamie, your time will be much better spent finding deals and managing the manager than trying to manage the properties yourself.
Mike Summey: Hi pattymelt
Al Lee: you shoudl never manage them youself, regardless. The liability it too great.
Alan: That’s the trouble, you don’t know until you try it out
housemonger: hi pattymelt - from Philly perhaps?
pattymelt: Hi, Al
Investment Chat]: Alan has entered (9:10 pm)
JamieNC: But starting out…I get nervous about the mortgage payment when it sits vacant
gloworm: there are alot of alans here
JamieNC: I have a great question
Roger Dawson: Jim, yes you can get my audios from this site.
Alan: Real Agents offer it as a token service and might purposely do bad to get the property sold…true?
Al Lee: I am an Alan, but go by Al
housemonger: I agree glo worm, have you read al’s book —
Mike Summey: Do any of you listen to the Joey Reynolds radio program?
guesswho: roger, what is the name of your book(s)
Jim_FletcherNC: thanks, Roger
Roger Dawson: Guesswho: Secrets of Power Negotiating is the book that will help you the most.
pattymelt: Not from Philly
gloworm: I will order it. Can my CPA give me advise - theswe investments are my retirement
Alan: No, y computer like to make me noticed I think. A fetish for attention
guesswho: ty
[Investment Chat]: Alan has entered (9:12 pm)
Al Lee: Many investors fool themselve thinking they are saving money managing it themselves, then they have high vacancy rates, high repair costs, etc. They weoul actually have saved money letting a pro do it
Jim_FletcherNC: Is the Joey Reynolds show on in the Asheville area???
housemonger: Bad joke - where do you invest?
[Investment Chat]: Penny has entered (9:12 pm)
Roger Dawson: Hi Penny!
JamieNC: I have a situation with my new tenants…they are being loud at night and have rebel flags in the windows(they have excellent credit /history etc.) can property assoc. step in after many complaints and make me evict them????
Mike Summey: Jim, I’m not sure.
Penny: Hi Roger!
Alan: alaska?
Mike Summey: Check our wor710.com
[Investment Chat]: Alan has entered (9:13 pm)
housemonger: My sister owns a property with the same probelm- except its a relly loud dog - any advice?
Penny: I’ve been here but somehow got re-entered. Hope you are well.
Mike Summey: The show airs in 225 markets according to the producer.
Roger Dawson: Jamie, reason with your rebel tenants. The last thing they want is to have to move.
Jim_FletcherNC: ok
Alan: There are 15 Alans in here, you mean you can’t see them?
Al Lee: There is a real art to tenant screening anda good manager will be able to avoid thos e bad tenants
Jim_FletcherNC: 18 now
gloworm: thought that ws the wine
Jim_FletcherNC: hold your hand over one eye
Mike Summey: Jamie, a good property manager will have terms in the lease agreement to deal with dogs and other nusiances.
JamieNC: they are nice to me but other in the n-hood want to start war because they are tired of having renters in the n-hood
Alan: What is the BEST both for screening tenants?
guesswho: mike, do you have any books, from the material i heard, your books have to be good, you and roger and very impressive
housemonger: Al, you are set on good management, is it smart to stay with one firm
[Investment Chat]: Alan has entered (9:15 pm)
Alan: book
Roger Dawson: One bad tenant who knows how to work the court system will sour you on investing. You’ll want to jump into the arms of the first professional property manager you meet!
housemonger: 19 now
JamieNC: The tenant pay on time all the time
Al Lee: House… I hae one management company for each metro area I invest in. I stick with them unless the let me down.
Mike Summey: guesswho, our book is The Weekend Millionaire’s Secrets to Investing In Real Estate.
Mike Summey: We will have other out in the future.
Jim_FletcherNC: and it is a GREAT book!
Alan: how romantic
guesswho: i will bye all of them
guesswho: buy
Roger Dawson: geuswho: Mike and I have three more books “coming down the pike” as they say in NC.
RJ: what do you pay your property managers, and how exactly do you manage them
Jim_FletcherNC: This is good stuff here tonight!
JamieNC: so can the assoc. make me do anything with them if the dont settle down
Alan: Mike, you hear my SECOND book that I said you should release?
JamieNC: can they fine me?
Al Lee: Property managers’ rates and fees vary, but you can expect to pay about 10% of the rent
[Investment Chat]: dawn has entered (9:17 pm)
housemonger: Jamie - read the CCR’s - it’ll be spelled out
Mike Summey: RJ, I currently pay 8%, which is high based on the number of properties they manage, but I want them to make enough off me so I can expect a lot from them.
Roger Dawson: Hi Dawn!
Mike Summey: When I started, I paid 10%
JamieNC: Al do they discount for more properties managed?
Jim_FletcherNC: Mike, Roger… Do you recommend putting your properties into LLCs? If so, how many properties per LLC?
[Investment Chat]: Alan has entered (9:18 pm)
JamieNC: gottcha
Al Lee: Jamie, HOA’s have more power than city governments do. They can fine you, file a lien, foreclose and all without you having done anything wrong.
RJ: So what issues do they handle themselves and which ones require your involvement?
Mike Summey: Jim, I hold all my properties in LLCs
housemonger: Hey goloworm, did you hear that?
dawn: hi. Will there be a transcript of the chat afterwards? having connection issues
Al Lee: Jamie… It is imperative that you know what sort of HOA will be in effect in the areas you buy in.
Alan: The ASHEVILLE Guide to managing your Real Estate Empire. I upped my creation fee to 1.5%
Jim_FletcherNC: How many houses/properties per LLC, Mike?
Mike Summey: RJ, I give them leeway to handle anything under $500. Over that they have to check with me.
gloworm: yes, thanks Al - I look forward to the CD - is it complicated
Ralph Roberts: Dawn, yes there will.
Roger Dawson: Housemonger: it’s gloworm. Go-lo-worm is something else entirely.
JamieNC: its kind of a downer because they alway pay on time.
Al Lee: gloworm ??? what CD, I have lost track of one of the conversation streams, I guess
Jim_FletcherNC: LOL, Roger
housemonger: roger, sorry, just a typo
dawn: is there a national chain of property managers that you would recommend?
Alan: The CDS are the same as the book
Al Lee: dawn, go to www.narpm.com and search through 1300 nationwide
Mike Summey: dawn, I don’t know of any chains of property managers.
gloworm: The ad for your book mentions a CD with forms and helpful tools
dawn: thank you
Roger Dawson: For residential properties, it’s a cottage industry. For commercial properties there are national companies.
Al Lee: gloworm, OH, sorry. I missed par t of the conversation. No, the CD is tools that you can use oon the computer to evaluate properties. It is not the same as the book
Mike Summey: The listing Al is talking about is not a chain I don’t believe. They are all independent property managers, Right Al?
Roger Dawson: Mike, just thought of a way to make another million. We’ll start a nationwide property manager’s franchise.
housemonger: does anyone fear what the rates will do to our investing
Alan: Cottage meaning what exactly?
[Investment Chat]: Alan has entered (9:22 pm)
Jim_FletcherNC: Mike, Roger… How many houses/properties do you recommend per LLC?
Al Lee: NARMP, National Association of Residential Property Managers is not a chain, it is a professional organization.
Roger Dawson: Cottage meaning locally owned.
Mike Summey: Jim, that is a question you should take up with your attorney.
Al Lee: house.. Rates will most likely go UP, so I am advising peopel to buy NOW and lock the rates ASAP
Jim_FletcherNC: ok, thanks
guesswho: mike and roger, how and why did you get start in REI
Jim_FletcherNC: $$$$$$$$$$$$$$$$$$$$$444
Ralph Roberts: for those of you being dropped in and out, I do have a complete transcipt of the chat tonight… about 8,000 words so far ;-).
housemonger: can I buy with my IRA
Alan: ARMs are not good i think
Al Lee: Ralph, how cna you count those words so fast?
Ralph Roberts: spelling appears optional
Ralph Roberts: computer power, Al
Mike Summey: guesswho, I started out just to build a little extra cashflow, but it soon became a game. Much like playing Monolpy for keeps.
Al Lee: housemonger, yes you can buy in a self-directed IRA with restrictions on the financing
Roger Dawson: guesswho: I started investing by accident. Working for a company that tranferred me every two years. I would buy a house and rent it when they moved me.’
[Investment Chat]: Alan has entered (9:24 pm)
housemonger: roger, that’s tranSferred
Jim_FletcherNC: Do you know of any method of using an IRA or 401K in some kind of rollover to purchase properties????
Al Lee: Alan, with rates as good as they still are you shoudl lock in a 30-year fixed mortgage, not an ARM
Roger Dawson: Housemonger: I like that! can I use it?
Mike Summey: He’s English…they speak funny.
Alan: The human brain only reads the first 15% of word at either end
guesswho: do the both of you do teh no money down deals, as in fight for no money down, — how do you structur your deals
housemonger: of course!
[Investment Chat]: Alan has entered (9:25 pm)
Al Lee: Jim_Fletcher, yes you can do tha with IRA money
Alan: That’s why I said I don’t like them
Jim_FletcherNC: My brain is borderline human
Mike Summey: guesswho, I do no money down deals when they sork, but I don’t let “no-money-down” rule what I do.
Mike Summey: work
Al Lee: Jim_Fletcher, I have a list of companies that do exactly what you asked about with IRA’s
housemonger: Hey roger, mike’s on board!
Alan: 131 IQ here
guesswho: in what way, lacn dontracts, lease options, ect ..
Jim_FletcherNC: OK… How about a 401K?
guesswho: land contracts
gloworm: will property manager guarantee a tenant, I can’t afford to loose that much money
Al Lee: Jim_F……….. Yes, if you convert to a self-directed IRA, which you can do
Mike Summey: guesswho, rephrase your question.
JamieNC: See you guys it past my bedtime see ya the next chat!
Roger Dawson: Bye Jamie
Al Lee: glowworm, we just started a new program called Turnkey Investments that actually does guarantee a tenant
Mike Summey: goodnight Jamie, thanks for your participation.
JamieNC: see ya!
Jim_FletcherNC: thanks a lot, Al Lee
housemonger: GUATANTEE, AL?
[Investment Chat]: Alan has entered (9:29 pm)
Al Lee: OK, Jim
Jim_FletcherNC: bye Jamie
guesswho: on your no money down deals, how do you prepare the paper work, with a land contract, lease option or another way
Roger Dawson: Gotta go Folks. See you next Sunday!
Mike Summey: Alan has an “I want to be noticed program running on his computer.”
[Investment Chat]: Alan has entered (9:29 pm)
Alan: Fine line between forcing in tenants and being too selective
Al Lee: housemonger, yes. It aggregates the house, loan, tenant, lease, everything and you buiy the entire package — you ge tyour first rent check the day you clos.
guesswho: b-by roger
housemonger: By Roger, thanks for the input
Jim_FletcherNC: bye Roger
Jim_FletcherNC: Thanks
Al Lee: bye rpger
[Investment Chat]: Alan has entered (9:30 pm)
Mike Summey: See you Roger!
Al Lee: Roger, that is
housemonger: Hello Alan?
Penny: Goodnight Roger. I’m with you.
Alan: See that?
[Investment Chat]: jane has entered (9:30 pm)
Al Lee: Alan, I forgot wher you are from–Alaska?
[Investment Chat]: Alan has entered (9:31 pm)
housemonger: Alan, are you on DSL
Jim_FletcherNC: Alan, ever thought of a sledge hammer hit on the ENTER key?
jane: Hi, Mike
Mike Summey: housemonger, NO I’m in Asheville, NC now. I was in NYC yesterday and will be back on Tuesday.
[Investment Chat]: Alan has entered (9:32 pm)
Al Lee: Mike, are you flying the Duke to all these venues?
housemonger: I hear Charlotte is a good market???
Mike Summey: Yes Al.
Mike Summey: It is running great.
Jim_FletcherNC: La Guardia?
Alan: That won’t fix anything…It would be like chopping off the monster’s hand
Mike Summey: Jim, I fly into Teterboro.
housemonger: NEed a Right seat?
Jim_FletcherNC: Oh yeah… that makes much more sense
Mike Summey: Occasionally.
[Investment Chat]: Alan has entered (9:33 pm)
Al Lee: Mike, the few times I triie dto use my little plane fo rbusiness I ended up landing half way there and renting a car because of weather.
Jim_FletcherNC: I haven’t been to T’Boro since my Learjet days
Mike Summey: I took my son Matt on this last trip. He is a pilot also & has his multi-engine rating.
[Investment Chat]: Alan has entered (9:34 pm)
Alan: Let me shut this down…and reenter {for real}
Mike Summey: I’m working with him on his instrument rating.
housemonger: Mike - doyo use a stormscope - lot’s of thunderstorms in yur neck of the woods.
Al Lee: I thik EVERYONE here is a piot.
Mike Summey: Alan that sound smart.
Jim_FletcherNC: All Lee… Good decision. Too many people have tried to outdo Mother Nature and have gotten hurt or worse doing it!
Mike Summey: housemonger, I have stormscope & weather radar both.
housemonger: real estate = pilot!!!!! how else spend all that money you make us?
Al Lee: Jim… I did a few dumpt things and scared myself silly
Ralph Roberts: I have Flight Simulator on my computer… does that count?
Mike Summey: Jim, in nearly 30 years, I’ve only missed 2-3 trips due to weather.
Jim_FletcherNC: ALl pilots have done stupid things… the living ones learned form their mistakes and did not repeat them
realeyz: my dad was a pilot, but I am not
realeyz: I prefer to race cars
[Investment Chat]: wkendmillions has entered (9:37 pm)
Mike Summey: realeyz, in my younger days, I drove a car on the NASCAR circuit for a while. This was back in the 60s.
Jim_FletcherNC: That is good, Mike. I can’t tell you how many pilots I knew who made a bad decision to press on and did not liove to tell about it
Mike Summey: Hi weekendmillions
Mike Summey: I like the name.
wkendmillions: Hi all
Jim_FletcherNC: “Get-Home-itis” is a real killer in an airplane.
wkendmillions: me too
wkendmillions: LOL
gloworm: Ihave to go - when and where is the Dallas meeting? I think I need to be there
realeyz: my dad flew for Unit ed Airlines for 30 years
housemonger: Yea, pls remind me - May 8?
Mike Summey: Jim, I’ve had my share of those experiences you’re talking about. We’ll have to discuss it sometime.
realeyz: NASCAR - awesome Mike
Al Lee: gloworm, if you are talking about the one I was going to be at it is May 8 at tah Wyndam Anatole hotel–all day
Jim_FletcherNC: I want to go to a racing school. Know of any good ones in this area? (Atlanta maybe???)
realeyz: Im from Portland Oregon
Mike Summey: I think Richard Petty has one.
housemonger: Right, a link on your site, yes
Al Lee: housem… yes, you shodu find it pretty easily
Jim_FletcherNC: Mike, I love to talk flying. I would enjoy talking to you anytime. (681-1603)
Mike Summey: I’ll catch you at the airport one day.
Jim_FletcherNC: Cool!
gloworm: thank you - can I buy your book there
Al Lee: gloworn, yes, or at Amazon, etc
Ralph Roberts: or at aBOOKS.com/store … we have SIGNED copies
Mike Summey: Guys, this has been fun, but it’s getting late & I have a big day tomorrow. I hate to, but I’m going to have to sign off. Let’s all get back together next Sunday…same time, okay?
Jim_FletcherNC: I retire from airlines in a few yrs… will free me up to do real estate FULL TIME!
gloworm: thanks bye
Jim_FletcherNC: This was a great session. Thanks to ALL!
realeyz: bye Mike - thanx for your time!
guesswho: bye mikle
dawn: thank you!
Jim_FletcherNC: G’Night, Mike. See you next week.
Mike Summey: The rest of you can stay and talk as long as you like, but I haven’t even had dinner yet.
housemonger: No, thank all of you. I learned alot - everyweek this time?
Mike Summey: It’s almost 10:00 here.
Ralph Roberts: full transcript will be up in but mere moments
Mike Summey: Goodnight
alph Roberts: nite, all!
Jim_FletcherNC: Ralph—-How do we get the trascript?????
Al Lee: I try to be here every Sunday and I log in during the week at the same time to see if anyone is on.
Ralph Roberts: cut and paste … and mah arm is tired
Ralph Roberts: then I post it as an article here.
Jim_FletcherNC: Thanks for all your help too, Al Lee!
[Investment Chat]: AlanReturns has entered (9:43 pm)
[Investment Chat]: Bud has entered (9:43 pm)
guesswho: anyone from pa
Al Lee: Hi Bud
housemonger: Great - talk to you soon. Bye Mike, Al, gloworm, patty, Jim….Alan, not sure whether to say hello or goodbye
Jim_FletcherNC: c’ya, housemonger
Bud: Hi
AlanReturns: lol
Ralph Roberts: I’m gone, you guys can continue… have fun
Al Lee: Bye, housemonger
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