Chat 1-10-05
Posted on January 10, 2005
Welcome to the chat, Ralph Roberts!
[Seminar Room]: Ralph Roberts has entered (7:52 pm)
Ralph Roberts: hi Michele, you are the early one tonight 
Michele: hello
[Seminar Room]: Shane has entered (7:54 pm)
Ralph Roberts: hi Shane
Shane: Hi Ralph
Ralph Roberts: should be a good one tonight.
Shane: Guess I’m a little early
Ralph Roberts: that’s okay… we got the best seats
[Seminar Room]: Michele has entered (7:56 pm)
Ralph Roberts: rehi, Michele
Shane: Hi Michele
Michele: Hi Ralph and Shane
[Seminar Room]: Mike Summey has entered (8:00 pm)
Ralph Roberts: well, 8pm…. everyone but us three is late, eh?
Ralph Roberts: okay, Mike made it on time… barely
Shane: Hi Mike
[Seminar Room]: Roger Dawson has entered (8:00 pm)
Mike Summey: Hi everyone
Ralph Roberts: hi Roger!
Ralph Roberts: lots of rain still?
Roger Dawson: Yes, we’ve growing web feet in California. 20 inches of rain so far.
Ralph Roberts: wooo!
Roger Dawson: Everyone gets very irritated here. We’re not used to rain.
Mike Summey: Roger tells me it never rains in Southern California.
Roger Dawson: This is more rain than we’ve had in the last 3 years.
Roger Dawson: Michele and Shane: where are you from?
Shane: KY
[Seminar Room]: Doug in CT has entered (8:03 pm)
[Seminar Room]: Denise has entered (8:03 pm)
Mike Summey: Hi doug.
Roger Dawson: Hi Doug
Mike Summey: Hi Denise
Michele: burbank, ca. My roof is leaking like crazy from all the rain.
Doug in CT: HI Mike,
Ralph Roberts: hi Doug, Denise
Mike Summey: We’re just getting started.
Doug in CT: Hi Roger.
Denise: Hello
Doug in CT: I am anxious to hear the announcement you referred to in the email today.l
Roger Dawson: Anybody made an offer this week?
Mike Summey: Michelle, you missed my earlier comment…Roger tells me it never rains in southern California.
Michele: I think he was misinformed
Mike Summey: Doug, you’llhave to wait until about 8:30
Michele: w
[Seminar Room]: Bryant has entered (8:04 pm)
Roger Dawson: We’re at the end of the worst drought in 500 years.
Mike Summey: Hi Bryant
Doug in CT: I am on the edge of my seat.
Mike Summey: I want to be sure everyone is in the chat before I break the news.
[Seminar Room]: JackB has entered (8:05 pm)
Mike Summey: Hi Jack
JackB: Hello
Roger Dawson: Hi JackB
JackB: Hello
JackB: Mike thanks for the email response
Mike Summey: Has anyone done anything spectacular this past week?
Doug in CT: No offers this week. I am looking to fill my new properties.
Mike Summey: You welcome Jack.
JackB: Mike did you make any deals last week?
Mike Summey: I’ve been working hard. I’ll have an announcement at 8:30
[Seminar Room]: DavidinSF has entered (8:07 pm)
JackB: Doug in CT how many properties to fill?
Mike Summey: Hi David
Bryant: Roger you can have all the rain we are getting in SoCal
Shane: I am in the same boat as doug trying to fill a few vacancies
Roger Dawson: In Southern California, median sale prices actually dropped last month, from about 440K to 420K. That doesn’t mean that prices are dropping only that the steam is going out of the high end properties
DavidinSF: Hi Mike..thanks for answering my question about the 15, 20, or 30 year mortgage
Doug in CT: Well the four plex has one vacancy, and the single family house is being cleaned up — looking for a renter.
[Seminar Room]: sermiex has entered (8:08 pm)
Roger Dawson: Hi Sermiex
[Seminar Room]: mconlin1 has entered (8:08 pm)
Mike Summey: Shane & Doug, I’ve been at this for 30 years and I’m amazed at how the vacancy rate ebbs and flows.
sermiex: Hi All
JackB: how is your investments doing so far? are you pleased with results
Mike Summey: Hi sermix & mconlin
Michele: For the people that live in SO Cal are you buying outside the area right now?
Shane: Wow! What do you rent a 420,000 sfh for
Mike Summey: Shane, Roger is English…he tends to puff things up a bit at times.
Denise: Peanuts
Roger Dawson: Shane, that’s the problem. Maybe $2500. A lot depends on the area.
JackB: Doug in CT how are your investments doing so far?
[Seminar Room]: mconlin1 has entered (8:09 pm)
mconlin1: hello-
Bryant: Seems that rental rates have flat-lined in the last few years while SFH have been on a rocketship, at least down here
mconlin1: 1st time here..
Roger Dawson: In So Cal we have to look in the working class neighborhoods to make the numbers work.
Doug in CT: JackB I am very pleased. I have been at it two years now and have watched my networth more than double.
Mike Summey: Bryant, that is due to the extremely low interest rates of the past couple of years.
JackB: Doug what did you start with? how many homes and how much cash out of your pocket?
Bryant: Should that make multi-family a better bargain than SFH
Doug in CT: The Weekend Millionaire book came along just when I needed it.
[Seminar Room]: mconlin1 has entered (8:11 pm)
Shane: I bet apartment complexes are high there as well
Mike Summey: With the low rates, many people who have been habitual renters have been able to qualify for loans and with all these new buyers in the market, it has pushed the price of SFHs up.
JackB: Mike do you think it will change as the rates rise?
Mike Summey: Absolutely! It’s already changing.
JackB: Rates rise so do renters?
[Seminar Room]: mconlin1 has entered (8:12 pm)
Mike Summey: mcconlin1 are you having problems?
JackB: Does this mean property will go back down as rates rise?
Doug in CT: JackB — I started with one house that I thought I needed to unload, when I got my mind screwed on right, I found out I wanted extra houses.
Roger Dawson: While low down payment deals may not pencil out in Southern California, real estate is still a good investment. Put 30 percent down on a property in a good neighborhood and you’ll still make a good return over the years.
mconlin1: yes
JackB: How much cash did you need to get started
Doug in CT: Now I have six single family houses and I am the proud owner of a 4 Plex.
Bryant: The apt bldgs that are smaller and in an area where they can knock them down and build condos have been going up with SFH/Condos but aside from land value should apt bldg stay low due to low rents?
Mike Summey: Jack, you may see some prices falling, but what is more like is that rents will rise to reflect the higher purchase prices.
Shane: I live in a rural area, and can’t seem to quit looking at apartments when I probably should be looking for sfh
JackB: Mike this sounds like a good thing for owners
[Seminar Room]: Robert has entered (8:14 pm)
Roger Dawson: Shane, eventually you’ll want a mix, but if you’re just starting we recommend starting with SF residences.
[Seminar Room]: mconlin1 has entered (8:14 pm)
Mike Summey: Bryant, apartment buildings tend to reflect how investors feel, which is based more on cashflow and less on emotion.
Mike Summey: Hi Robert
Robert: Hi!
Mike Summey: Ralph, can you help mcconlin1?
Doug in CT: I was working on the financial aid package last night for my son who is a senior in High School. I had to shake my head a couple of times and realize I am no longer a good candidate for financial aid. Mike and Roger have made me too stinkin rich.
Roger Dawson: People sell houses for lots of different reasons. Apartment buildings are more often owned by experienced investors.
Shane: Roger I started with a couple of sfh but now have two 6 plexes and 5 buildings consisting of 22 units
[Seminar Room]: mconlin1 has entered (8:16 pm)
Mike Summey: Doug, it will only get worse.
Doug in CT: Bring it on!
Mike Summey: Or better, depending on how you look at it.
Roger Dawson: Doug, we can solve the stinking rich problem for you. We know how awful it must make you feel!
Doug in CT: How?
mconlin1: my connection may be to slow
Roger Dawson: Doug, we take checks, credit cards, etc
Mike Summey: BIG ANNOUNCEMENT COMING IN 13 MIN.
Bryant: At what size bldg will cashflow determine value instead of market emotion?
JackB: another book?
Roger Dawson: Oh, Mike did you buy another plane?
[Seminar Room]: mconlin1 has entered (8:18 pm)
Robert: I think it is going to be a special guest…………
JackB: you are giving us all 10,000
Roger Dawson: Bryant, I think that anything above a single family home is a business deal
Roger Dawson: Oprah is it a free car?
Doug in CT: Mike should be able to outdo Oprah.
JackB: Roger do think Fannie mae loans are good to get for my first couple of properties?
Mike Summey: Bryant, emotion often causes individuals to pay too much for SFHs, but investors tend to run the numbers and price their deals strictly on cashflow. You aren’t competing with homeowners when you buy apartment buildings and commercial properties.
Roger Dawson: I was amazed that Oprah couldn’t find enough deserving guests to give all the cars away! What a country!
Shane: How about everyone gets a sfh with 20,000 operating cash
[Seminar Room]: Debbie has entered (8:21 pm)
Mike Summey: Hi Debbie
Mike Summey: Where are you from?
Doug in CT: JackB–I find the first couple of “conforming loans” should come easy.
Robert: What has been the best ways that you all have found the most deals from your marketing?
Mike Summey: Conforming loans are ones that the loan originators can sell to Fannie Mae & Freddie Mac.
sermiex: Should lenders who make the loans and then sell the paper right away be avoided?
Debbie: I live in Waynesville
Mike Summey: sermiex, most lenders sell their loans.
Doug in CT: Sermiex–It doesn’t matter who gives you the money–as long as it is green.
Mike Summey: Debbie, glad you decided to join us.
Roger Dawson: Sermiex, no there’s nothing wrong with that. Most loans are sold off into the secondary market. The bank or S and L continues to make money by servicing the loan.
Debbie: I am trying to sell a commercial building in downtown Waynesville that we just finished renovating. It is fully rented and brings in $15,000/mo.
sermiex: Doug, how much did you start with?
Roger Dawson: Where is Waynsville?
Debbie: Any ideas on the best way to market it? We have 200 acres under contract that we want to develop. We want to do a 1031 w/the building
Debbie: Roger, Im about 30 minutes from Mike
Doug in CT: Only a single family house that I thought I needed rid of. It turned into a gold mine of opportunity, once I began to understand the game.
Mike Summey: Debbie, email me information on the building. I may have an interest.
Debbie: website is www.waynesvilletownesquare.com
Mike Summey: SIX MINUTES UNTIL ANNOUNCEMENT TIME!!!
Doug in CT: Suddenly that site has 100 hits.
Mike Summey: Debbie are you with CREIA?
Roger Dawson: Debbie, is the 200 acres for a residential development?
[Seminar Room]: Al Lee has entered (8:27 pm)
Mike Summey: Hi Al
Roger Dawson: Hi Al!
Mike Summey: You’re just in time.
Al Lee: Hi, Mike, Roger, everyone.
Al Lee: Just got in. What have I missed?
Mike Summey: BIG ANNOUNCEMENT IN 4 MINUTES
Debbie: Yes, I was the president of CREIA last year. I was at the seminar you held in Asheville not to long ago.
Ralph Roberts: nothing, Al… we’ll post a transcript
Al Lee: Wow! I just made it!
Roger Dawson: Mikes going to make a big announcement.
Roger Dawson: Ralph, missed nothing? I take that personally!
Mike Summey: Don’t everyone hold your breath!
Debbie: Roger: Yes the land is for residential, city water/sewer, golf course entrance already in, paved roads. Very nice overlooking Waynesville 3200-4800 ft elevation
Al Lee: Whew!
Mike Summey: Debbie, do the numbers work on the commercial building you want to sell?
Debbie: Absolutely
Ralph Roberts: he even missed the rain, Roger
Mike Summey: Let’s talk.
Mike Summey: Al, we’re glad you could join us tonight.
Mike Summey: The big preliminary announcement is that…
Roger Dawson: One of my speaking clients is National Land Partners. They develop rural land into upscale homesites. If you run into any parcels between 100 and 200 acres please Email and we’ll make some money together. Anything East of the Rockies and in the south half of the country.
Al Lee: So am I. I’ve missed a few of these chats. I am flying to San Fran to do a seminar in the morning.
Ralph Roberts: Roger -> I just got a call from a friend of mine in San Diego…. she says she just saw Los Angeles float by.
Mike Summey: I will be your guest on the radio this coming Saturday, but that’s not the BIG anouncement.
Debbie: Roger: what is your e-mail address
Roger Dawson: RogDawson@aol.com
Roger Dawson: Drum roll for Mike’s big annoucement!
Al Lee: Roger, my son and I have an option on about 250 acres of land in North Texas and will sonn have the option on an adjhacent 250 ac. We are offering it for under 1900/ac. Land is selling for 1900-2400 in the area now. It is undeveloped but in the path of Dallas growth.
Mike Summey: BIG ANNOUNCEMENT: Roger and I just completed the manuscript for WEEKEND MILLIONAIRE MINDSET today and to reward ourselves I bought the King Air I’ve been wanting and Roger bought a new neck tie.
Mike Summey: Drum Roll *******
Al Lee: Congrats on the necktie, Roger
Roger Dawson: What’s a king air?
JackB: Nice !!!!!!!!!!!
Mike Summey: Roger, you wouldn’t understand.
Al Lee: Roger, it’s one of those large inflatable mattresses, I think
Doug in CT: It must be a awesome neck Tie.
Debbie: Do we get a free copy for being on tonight?
Doug in CT: Great Question Debbie.
Mike Summey: The new book is scheduled for release in May.
JackB: Good Idea
Robert: Let us read the manuscript so we can proofread it 
Roger Dawson: Is it written in English or North Carolinan?
Mike Summey: McGraw-Hill accepts all requests for review copies…not us.
Al Lee: Mike, can I be the first to announce it on my radio show on Saturday? Probably not as you will have talked on a dozen shows in the next 5 days
Doug in CT: What is the highest rating on Amazon that Weekend got to.
Mike Summey: Al, you will be the first. Promise.
JackB: Mike and roger will you do the TV and radio circuit to pump the book?
Mike Summey: Doug, it got to 23
Al Lee: I’ll send out an announcement nationwide!
Mike Summey: That’s the highest I know of.
Doug in CT: Can you summarize the contents in a sentence?
Roger Dawson: Al, Email me some info on that land and I’ll talk to them about it. It sounds like what they’re looking for. They plan $80 of acquisitions this year.
Mike Summey: Jack, we don’t know what McGraw-Hill has planned for promotion yet, but I have been assured it will be much more that the first book received.
Roger Dawson: That’s $89 million!
Mike Summey: Doug, it’s the thought process behind the real estate book.
Roger Dawson: Doug, the book is primarily about Mike’s raising himself up by his ragged boot laces and how he learn to get rich. It’s good stuff. I learned a lot just proofing it for him
Doug in CT: I think hangin out in the chat room with some real real estate honchos is one way to build the though process.
JackB: Mike will it make people like me and get off my butt and pull the trigger and start buying property?
Doug in CT: So Roger, Mike’s your ghost writer?
Mike Summey: Al, I’ll get your show on the website calendar tomorrow. Anyone interested can listen via the Internet. Instructions will be on the website.
Roger Dawson: Abosulety Jack. But Mike will be much to shy to tell you that.
Al Lee: Roger, I just sent you an email to start the dialogue. I will have a detailed write-up soon. and will send it to you before anyone else
Roger Dawson: I remember when I first started investing. It was all so strange and scary. But once you get going you toss $100K around like it’s nothing at all.
Al Lee: Mike, you are a gentleman and a scholar. I will have a different board operator working on Saturday, so we whould not have tech difficulties with getting it recorded to put the shwo on my streaming audio website, either.
Mike Summey: Roger has censored some of the things I wrote in the new book.
Mike Summey: He’s such a stuffed shirt.
Roger Dawson: Al, thanks. I’ll put you in touch with the principals
Doug in CT: Streaming web audio is really great. What kind of things got censored?
Mike Summey: Ask Roger.
Mike Summey: He said I can’t talk about it.
Roger Dawson: Only three things. You can’t say !@#$. You can’t say !@#$ing. And you can’t tell amputees that it’s their own damn fault that they can’t run marathons!
Mike Summey: See, I told you he was censoring me.
Doug in CT: So, it was all the North Carolinianism.
Roger Dawson: Ralph does this site screen out bad words?
Mike Summey: Hillbilly logic!
Al Lee: At one of my seminars a guy told me he was out of work, had not money, had poor credit, but he wanted to invest in real estate like I do. he wanted me to tell hime where to get the down payment money. I said: get a job! Is that censored?
Doug in CT: It must– because I could only read about half of the words of your last post.
Roger Dawson: Ralph are you still awake?
[Seminar Room]: JJ has entered (8:44 pm)
Mike Summey: Hi JJ
Roger Dawson: Hi JJ!
JJ: hey mike
JJ: everyone
Mike Summey: YOu’re late, we’ve missed you.
Roger Dawson: Mike, tell them about your new plane
JJ: i know i know
JackB: and about the necktie?
JJ: mike what was your surprise for tonight
Doug in CT: I remember in NYC that Mike talked about another goal of his…and it seemed to have big wings.
Mike Summey: As those of you who have been regulars on the chat know, I’ve been planning to get a new airplane. A Beechcraft King Air Propjet. Well, today I finished the new book and rewarded myself by buying one.
JJ: ?
JJ: o ok
Al Lee: Mike, the Kink Air is a twin turboprop, isn’t it? Was the Duke a recip?
Al Lee: King Air
Roger Dawson: What’s a King Air?
Mike Summey: That’s correct AL
Roger Dawson: Kink Air, that’s better than Virgin Airlines!
Al Lee: Are you competent with all that technology?
Mike Summey: Roger, wait until I get to take you for a ride in it and then you can tell everyone what it is.
JJ: mike and roger, in the book you talk about making a no money down purchase by using bank and seller financing… but what about closing costs?
Roger Dawson: Al, don’t use big words like competent on Mike!
JJ: i dont know if you talked about closing costs in the book
Mike Summey: JJ, you simply factor in closing costs into the purchase offer.
JJ: alright
Mike Summey: They are treated the same as repairs you may need to make to get the property ready to rent.
Doug in CT: I mentioned last week that closing costs are way down when you use owner financing.
JJ: true
Mike Summey: Calculate what they will cost and allow for a return on this money also.
JJ: thats what i figured, just wanted to make sure
Mike Summey: With owner financing, closing cost can be negligible.
JJ: ya
JJ: Al…
JJ: you have identified territories for your investments
[Seminar Room]: matt has entered (8:49 pm)
Roger Dawson: Hi Matt!
Mike Summey: Anyone have any idea where everyone is tonight.
Mike Summey: Hi Matt
JJ: does that mean that you only buy properties in those territories>?
Mike Summey: Where are you Matt
Al Lee: JJ, are you addressing that to me?
JJ: yes
[Seminar Room]: Penny has entered (8:50 pm)
Mike Summey: Hi Penny
Mike Summey: Where have you been ?
matt: hello
Penny: Hi Mike, I finally made it.
Mike Summey: Long day?
Al Lee: OK, I ONLY buy rent houses in Texas. I have managers in the five largest metro areas in the state. I also buy interests in large commercial buildings nationwide.
Penny: Yes, just home getting settled back in to my routine.
JJ: ok…
Roger Dawson: Matt, I have a friend who has a doormat that says, “Hi! My name is Mat” I laugh everytime I see it!
Debbie: Mike: I sent you an e-mail with the details of the building. By for now.
JJ: i know why you only buy in Texas, but…
Roger Dawson: Hi, Penny. Getting close to clogging time
Al Lee: JJ, if you go to my website, www.myRentProperty.com and look at the articles I have posted there, you will see detailed explanations as to why.
Mike Summey: Thanks Debbie.
Mike Summey: I’ll look it over and be in touch.
JJ: i know you only buy in texas and yes, I have read your articles as well as your book, question is…
Penny: I’ll be waiting to watch you put on your shoes!
Al Lee: YOu need to log in to see the articles. You need to be a subscriber to log in. It is FREE, so don;t worry about becoming a subscriber. I never give anyone’s email address or other contact info out, either.
JackB: Al Lee, what is the web address?
Al Lee: www.myRentProperty.com
JJ: do you buy outside your territories….like you’ve identified the NW part of San Antonio as a good area…does that mean you only buy in that part of San Antonio because the ratio between property values and rents are good ?
JackB: thanks
Penny: Ralph, I’m so glad you post these chats. I look forward to reading what I missed.
Al Lee: JJ, that is right! Even in those metro area, only certain parts will have the right ratios. My minimum is rent of 1% of purchase price -or- price not more than 100 months rent.
JJ: ok wanted to make sure
Robert: What are your most effective ways of finding your deals–especially when you were starting? Do you remember?
Al Lee: That is for tiop-quality properties, often new construction. For older properties I go for better than that minimum because there will be more maintenance, etc.
JJ: true
matt: i do not type so it takes me time to type. listened to cd course and very informative and enjoyble to listen to
Mike Summey: Robert, I just started making offers. Most of them were rejected, but eventually one was accepted, then another and another. The rest is history.
JackB: Mike, do or did you use realators?
Robert: I know you have to make offers, but you gotta have people calling you. What were your most effective ways to get people to call you? Or did you use a realtor via MLS?
Mike Summey: Glad you could join us Matt. Don’t worry about your typing, you see that we have errant fingers at times also.
Roger Dawson: I think that cozying up to real estate agents is a great way. Be upfront, tell them that you’re looking for rental bargains. Some real estate agents don’t believe in buying properties themselves (believe it or not) or they need the cash from the commission more than they need another investment.
Robert: Or did you ever use direct mail, cold calling, etc.? Just curious on your most EFFECTIVE ways.
Al Lee: Mike, fumble fingers on final can be fatal!
JJ: Al im looking to start investing in texas… im in miami and the ratio here isnt too great
JJ: the only time a property will really cash flow is in bad areas
JJ: ugly areas
Al Lee: JJ, there are only a few places in the US where you can regularly buy at a price where you will cash flow from the normal rent. You can do it anwhere is you find the right deal, but that is a lot of work.
Mike Summey: Jack & Robert, I use Realtors most of the time. I have a couple that look for deals for me, but in the beginning, I would simple take the classified ads and go through them looking ofr potential deals and then make offers. Don’t be shy!
JJ: so thats why uve identified those areas so you dont have to do any more work?
JJ: as well as for your members
JackB: For sale by owners might be a good way to find some deals
Al Lee: JJ, I beleive that the appreciation on shabby properties will not usually be very much, so you trade appreciation for cash flow in those bad areas
Mike Summey: Al, I never have fumble fingers on final.
JackB: Good night all. Mike and Roger Congrats on the new book I can’t wait to read it.
Roger Dawson: Al, I swear he nearly killed me on an approach in Florida. And he says he was scared out on my sailboat!
Roger Dawson: Thanks JackB
JJ: and i really dont want to own shabby properties
JackB: I will wait for a copy in the mail.
Al Lee: Roger, I once forgot to add flaps on a take off with a full load. Seeing the treetops pass JUSAT below my wheels scared the heck out of me.
Al Lee: JUST
Mike Summey: Al, all I did was keep from flying him into a thunderstorm on final appraoch.
matt: just let a agent know i was serious about investing in single family home. she called w/in a week w/ a property with need little fix up ingood neighborhood. approx 40k equity in after fix and should be able rentw/ pos cash flow thanks to your cd inspired me get off my tail.
JJ: mike i met a guy recent.ly who currently owns 150 units and he got started with carleton sheets’ course
JJ: 7 years ago
Penny: Gotta run. Goodnight. Thanks for the quick chat.
Al Lee: Maybe Roger would have preferred the storm.
Doug in CT: I think “curb appeal” is an important consideration. When you drive up or by does the property call out to you.
Mike Summey: Matt, that’s great.
Roger Dawson: Buy the worst looking property in the best neighborhood.
Al Lee: Buying yoru first property is the hardest part. After that it gets easier.
Doug in CT: The single family house has a lot of emotion behind it.
JJ: what age did everyone start at?
Doug in CT: It is a dream, a vision, an ideal, a longing…
Al Lee: JJ, I started at about 27 and I just had my 59th birthday. I retired on my rent houses at about 54.
JJ: how many have you acquired over the years (if u want to tell)?
matt: 39, do you still recommend sigle family over muli units?
Roger Dawson: I bought my first house at 24 for $12,700. They wanted $12,750 and I wouldn’t pay it. Almost lost the deal.
Mike Summey: I have several houses in a neighbohood near me. When I first starte buying there I bought the worst houses in the neighborhood and began to spruce them up. As my properties improved, the homeowners started to improve theirs. Today houses that I bout for $30,000 - $40,000 each 10-15 years ago are now worth $120,000 - $150,000.
Al Lee: JJ, not as many as Mike, about 50. I still own about half o f them, plus commercial property,
Roger Dawson: I need to leave you. I hear my family stirring downstairs.
JJ: ok
Al Lee: Are you cooking them , Roger?
Doug in CT: Mike, do you thing that level of 10 year appreciaiton is still possible going forward to 2015?
Mike Summey: jj, who did you meet that started with Carleton’s course?
JJ: hopefully ill do well by starting now, im 21
JJ: bclosing a couple this or next week
JJ: just some investor i know
JJ: owns 150 units now
matt: good bye and thank you mik
Mike Summey: Goodnight Roger.
Al Lee: Nighe, Roger
Doug in CT: See ya next time, Rog
JJ: he has 150 ental units
Mike Summey: I’m going to have to sign off as well. I’ve enjoyed it and I look forward to talking with everyone next Monday.
JJ: plus he rahbs and flips
Al Lee: Go stir the family so they don;t burn.
JJ: rehabs*
Shane: Good night everyone enjoyed it
Mike Summey: Goodnight Al, I look forward to being with you Saturday.
Doug in CT: So long…til we meet again …in the ether.
sermiex: Good Night and congratulations Mike
Mike Summey: Thanx all! Goodnight
Al Lee: Mike, we’ll do a great show. This tiem we will get it recorded and on the website, too.
Doug in CT: My “Mike Summey” google alert is ready for news on the new book.
Al Lee: Goodnight
Ralph Roberts: good night, all
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