Chat Transcript – May 3, 2010

Posted on May 4, 2010

Dwayne_Wiseman Charlie, Good evening. How is the weather in SC?
Dwayne_Wiseman Hi Mike.
Mike_Summey Hi Dwayne & Charlie
Mike_Summey Hi Rudolph
RudolphtheRed Hi Mike. How are you doing?
Mike_Summey Hi SJ
sj Hi Mike
Mike_Summey Looks like we’re getting a few people in early tonight.
CHARLIE HI MIKE
Mike_Summey SJ or Rudolph, if you have a question for Dwayne before the room gets crowded, you may want to ask him now.
Mike_Summey Hi Charlie
sj lots of interest in your guests tonight!!
Mike_Summey We’ll have a bunch coming in soon, so now is the time to get answers before we get busy.
Mike_Summey Theeeere’s Roger Dawson
RudolphtheRed I’ll probably “listen” for a while. This is my first time in the chat room.
Mike_Summey Hi Broadway
sj Mike how’s your buyers agent working out for you?
broadway Hello Mike
broadway Hello everyone else too.
Mike_Summey Rudolph, glad to have you. Feel free to jump in anytime. Everyone is welcome.
Mike_Summey Hi Trav
Roger Dawson Hi Everybody. Greetings from sunny Southern California
broadway Hey Roger!
Trav Hey Mike
Roger Dawson Dwayne, thanks for joining us this evening.
CHARLIE HEY ROGER
Roger Dawson Hey Charlie
Mike_Summey Don’t everyone be bashful. Let’s get some questions to Dwayne.
Dwayne_Wiseman You are welcome. It has been a while. The banking industry has really changed and will continue for sometime.
Mike_Summey Hi Redsox
RedSox9 Evening, Mike. Thanks.
Mike_Summey I’ll have an announcement in a few minutes, once we get more people in the room.
Mike_Summey Redsox, is this your first chat?
RedSox9 It has been several months since I have been on Mike.
RedSox9 Looking to connect more regularly as I get my investment portfolio going.
Mike_Summey I’ve bought several properties from Dwayne’s bank. He is one of the few bankers who knows what’s going on in the market.
Mike_Summey Hi Frank
Frank Evans Hello
Mike_Summey Hi seamass
Mike_Summey Hi Joshua
seamass hi
Joshua Hi Mike
Mike_Summey Dwayne, why don’t you get us started with a brief assessment of the market today?
RedSox9 I’ll throw a question out to start for Dwayne.
Joshua Mike, how often do you inspect your properties with your mgmt co? Do you talk directly with the tenants or do you prefer to just walk through and let your manager handle all discussions to maintain that buffer?
Mike_Summey Roger, are you coming to go with me to the shuttle launch?
RedSox9 I was listening to an online seminar last week discussing the merits of non-recourse loans related to using IRA-related investments for real estate. Do you have a perspective on the value/benefits or lack thereof for this type of product?
Roger Dawson Mike, I’m trying to work it out for the Shuttle launch. I’ll let you know by Wednesday.
Mike_Summey Joshua, I have my managers inspect 60-90 days after a tenant moves in and then prior to each lease renewal. I don’t usually inspect while a tenant is in the property, but do so frequently between tenants.
Dwayne_Wiseman The economic crisis has hit main street. Banks will continue through 2011 or longer working through real estate loans and divesting of the problem real estate. There will be ongoing opportunities for investors to purchase properties at discounted prices.
Mike_Summey Everyone, CHARLIE is our sleeper tonight. He is one of my “Buyer’s Agents.” If you want to know anything about how I do business, ask CHARLIE.
broadway Dwayne, do you see banks working more with investors to absorb the foreclosures in this market?
Joshua Mike, why the inspection 60-90 days after move-in?
Roger Dawson Dwayne, what loans do you have available now for non owner occupied investor SFRs?
RudolphtheRed How does one go about finding out about these bank-owned trouble properties?
Mike_Summey Joshua, to see how a new tenant is taking care of the property. If we find a problen after 60-90 days, we inspect again in another 60 days.
Dwayne_Wiseman Yes, they will have to but they will use stricter underwrtiing guidelines but they can be more flexiable/creative with a property they own.
CHARLIE Look fo a agent that deals in foreclosusers
RedSox9 How anxious and interested are banks to work with investors on short sale properties? Any suggestions you might have regarding paths less traveled by investors to identify bank-owned opportunities?
Mike_Summey Rudolph, they are listed for sale. That’s what Charlie does for me. He finds them.
Dwayne_Wiseman Roger, the loans we are doing now are basically for “bank owned properties” we own.
Roger Dawson Dwayne: Do you sell your REOs directly or do you list them with a broker?
Mike_Summey Dwayne, those are classified as “loands to facilitate” aren’t they?
Mike_Summey Hi Ripped
RippedOffByWIA Hi Mike. Call me RIP for short 🙂
Mike_Summey Gotcha, Rip
Dwayne_Wiseman RedSox9, very limited. These transacations take a lot of time. Banks will listen (if you find the right person) but it has to make some sense for them to move forward.
Dwayne_Wiseman Roger, Both. We prefer to sale directly to save everyone money.
Joshua Dwayne, does your bank have any operations in Houston, TX? If not, any good portfolio lenders you might recommend?
seamass how do you get started with limited money and bad credit?
Mike_Summey Redsox, I have an offer that has been pending since last July for a short sale. It took until February of this year to find out who actually owned the mortgage.
Mike_Summey Hi Ty
Dwayne_Wiseman Joshua, no we do not but several years ago we were looking to expand into Texas but when the crisis hit we put it on hold. I donot know of one in that market, sorry.
Ty Thank you. I hope everyone is well.
RedSox9 So, is the implication in your comment Mike that short sales can be more challenging than they are worth?
Mike_Summey seamass, I’m not going to mislead you. If you have no money and bad credit, it is very hard. You will have to focus almost entirely on sellers who can finance the purchase for you.
Roger Dawson Seamass: You could look for sellers who own property free and clear. They get money out with a first mortgage and they carry back a second mortgage for you.
Mike_Summey Hi dmcgrady
Dwayne_Wiseman Seamass, You need to know your banker. If you donot spend some time getting to know him/her.
Mike_Summey Redsox, that has been my experience. I have found my time is better spent on other properties.
Mike_Summey Hi candong
candonghome Hi Mike
candonghome This is my first time to join in this. Hello everyone.
Mike_Summey Candong, welcome. Feel free to just right in with your questions.
CHARLIE Redsox,short sales take the owner as well as the bank to agree on the sells price
Dwayne_Wiseman Seamass, it will still be hard but if it was a one time event and as time passes this will be time well spent getting to know your banker.
RedSox9 Thanks, Mike. And are you finding less competititon using the bank mortgage/seller financing route less competitive because more people are chasing the short sales?
RedSox9 Good point, Charlie. Thanks.
Roger Dawson My son John just bought a short sales from a bank that was about to foreclose. It was a traumatic experience. He didn’t know until the day before it closed if it would happen or not. He purchased with an FHA loan, which wasn’t hard for him to get.
Mike_Summey As I mentioned earlier, CHARLIE is one of my “Buyer’s Agents.” He know a lot about how I operate and I believe will tell you that what I say here is exactly what I do.
Joshua Mike, have you ever been audited? Are a lot of houses a red flag to the IRS? Thankfully I never have but wanted to know if this is a high risk as I continue to grow my rental portfolio?
Mike_Summey Hi rh
rh Hello.
Roger Dawson Charlie: how are you compensate as a Buyers Agent?
rh Dwayne, sorry if I’m asking questions that have already been discussed. How motivated are banks to sell foreclosed properties in their inventories? Buyers and real estate agents seem to be indicating that if a property is bank owned it’s going to be a tremendous value and the bank will be extremely flexible on price. I’m somewhat skeptical.
Dwayne_Wiseman Mike are you working on any books right now?
CHARLIE Roger, almost all listings have a pay scale for the buyers agent upon the sell of the property.
Mike_Summey Joshua, I’ve been audited twice. Both times the IRS had to accept my returns as filed. The last time, the IRS auditor told me after the audit that I had the cleanest books he had ever audited.
Dwayne_Wiseman rh, Very motivated. The key is finding the right person to talk to.
Mike_Summey Dwayne, yes I am. I’m almost finished with a new book with the working title of “The Financial Security Bible: How to Build Wealth and Be Happy.”
Roger Dawson Dwayne: I’m working on the third edition of Secrets of Power Negotiating, which will be in bookstores in October. I’m also writing a new book called HELP!!! How to solve life’s problems.
Dwayne_Wiseman That is great Roger.
seamass Is it better to buy houses under your personal name or create a business and use that name, I have seen both. Does it really matter
Mike_Summey Dwayne, I told Roger I would make him famous if he would make me rich! 😀
Roger Dawson Charlie: so you’re paid by the seller?
RudolphtheRed Dwayne could you elaborate when you say the key is finding the right person within a bank to talk to?
Mike_Summey seamass, I bought under my personal name for years until my estate planning attorney advised me to put the properties in LLCs as they are easier to deal with for estate planning.
CHARLIE Roger almost in all cases, there is a few times that the buyer will have to pay me, but not often
Roger Dawson Mike: I could swear it was the other way around. I would make you famous if you’re make me rich. I’ve done my part.
Mike_Summey Roger, 😀
Dwayne_Wiseman rh, you wouldn’t believe how many calls the banks get a day from “investors” and how much time it takes. Some can take a lot of time as you can imagine and most offers are very unrealistic so it hurts the true investor like Mike.
broadway Roger and Mike, I’d be willing to bet it worked on both sides!!!!
Trav Mike what is the key to getting multiple loans in your name
rh Dwayne, in what way are they unrealistic?
Joshua Dwayne, I would bet some of Mike’s offers are much lower than the banks want to accept!
Mike_Summey rh, I don’t call Dwayne, he calls me! I know how many calls he and other bankers get from people who call themselves “investors.”
Mike_Summey Trav, ASK!
Roger Dawson In my experience the price that banks offer REOs for is very realistic. There’s not much point in making a low ball offer because you’ll be beat out by another investor.
CHARLIE Hi everyone i have been working with mike for a year now and we have looked at a hundred properties or so and have been able to purchase around 15. In my opion you have to work the numbers.
Roger Dawson My son paid $5000 over the asking price and got a bargain.
Mike_Summey Charlie, can you respond to Roger’s comment.
Dwayne_Wiseman rh, when we talk with an investor we put them on the money (at discounted price). We explain what we will sale the property for then they offer 50% on the dollar.
RedSox9 Dwayne and Mike…does the use of an LLC or personal acquisition impact the perception/opportunity for an investor to obtain financing? Does it give the bank the perception that you are a more serious investor?
Mike_Summey Dwayne, you never give me a price…you just say here’s what I have , what will you give me for it.
Roger Dawson Charlie is right on when he says you’ve got to run the numbers. You could pay the bank 50% of what they asked and still have a bad investment.
Dwayne_Wiseman rh, it is very dissappointing when this happens and they tell us how bad the property is. Then we wonder why they even want it. I can guarantee you the next time they call much time will not be spent with them.
Mike_Summey Redsox, if you use an LLC you can expect the bank to require you to personally guarantee the loan. I have no problem doing this.
Mike_Summey Hi krspack
Roger Dawson Run the numbers the way we teach you in our book or on the Offer Generator software.
rh Dwayne, the reason I’m skeptical is because I’ve encountered many situations where banks are holding out for the best price they can get. And because of the enticement of the bargain of bank owned properties, buyers are bidding them up.
krspack1 Hey MIke
Dwayne_Wiseman Mike, we just lead you to the water and make a business decision because you always close the next day which is important for a bank.
CHARLIE Mike, roger, the banks want to get the most they can out of a property. They will list it below market most of the time but on the high side. You have to know the area had have glide lines in place
Mike_Summey Hi OK
rh Charlie, the type of offers that Mike makes doesn’t seem typical of what most investors are doing and real estate brokers are teaching their agents. I’m having difficulty locating real estate agents willing to write frequent low offers. Do you have any suggestions for questions I can ask when interviewing agents that might help find one who’s is willing to work with me, rather than against me?
Joshua Mike and Dwayne, how did you two start your relationship in the very beginning? How did you meet?
Mike_Summey Everyone, banks want to sell their inventory, not play games. If you can offer them cash and a quick closing, it means a lot more than the price. Dwayne, you can comment on this.
Mike_Summey Hi hawkeye
hawkeye775 Hi Mike, Everyone
ok Hi Mike and Hi everyone
Dwayne_Wiseman rh, we are averaging 90% on the dollar which is good but at the same time we keep the foreclosed properties moving. When we get an offer our goal is to respond in 15 minutes and we will work offers up until 11pm in the evenings if the transacation is moving in the right direction.
Dwayne_Wiseman Mike, didn’t we meet going to a NACAR race in North Wilkesboro?
Mike_Summey Dwayne, that is correct. I believe it was the last NASCAR race at the track…many years ago.
Roger Dawson NACAR? Do drug dealers have a racing circuit now?
CHARLIE Rh, let the agents you are talking to that you are a serious investor and want to look at several propeties at a time and will make offers on most if not all of them.
rh Mike, I have a reasonable offer on a bank owned property right now, but the bank is taking a very long time to respond. My feeling is their dragging they’re feet in hopes of getting a better offer. I’m considering withdrawing my offer so I can move on to another property.
Dwayne_Wiseman All, Mike is correct. The 2nd question after what is the price I ask my Special Assets Mgr how quick can they close.
Mike_Summey Charlie finds 8-12 properties for me to look at. I will take a full day inspecting the properties and then usually make an offer on all of them. I use the Offer Generator computer program to make the offers and Charlie can tell you whether it works or not.
rh Charlie, one of the problems I have is that many agents say they have experience with investors, but their experience with investors is quite different than the type of investing I’m doing. So far my agent experience has been very frustrating.
Roger Dawson Rh, didn’t you have a time limit on the offer anyway? I would say, “Good upon presentation (to the seller).”
Dwayne_Wiseman All, Banks had rather have cash but if the project/property is incomplete they will finance it for you. Keep this in mind when maiking your offer.
rh Roger, the time limit is very long. Something my agent argued for.
Mike_Summey rh, I rarely give a bank or anyone else more than 24 hours to respond to an offer.
broadway Dwayne, how agressive are banks in financing ‘incomplete’ projects and how ‘incomplete’ can they be?
Mike_Summey rh, many agents confuse “investor” with “speculator”
sparky37 Hello Mike and Roger
Mike_Summey Hi sparky
Dwayne_Wiseman All, there are some good buys out there. Start with your community banks first as they will talk with you.
Roger Dawson Hi Sparky. Welcome
rh Mike, in my opinion most agents see investor and speculator as the same thing.
CHARLIE Rh, find a good agent is like find a property that works, it is a number game. Keep interviewing
Dwayne_Wiseman Broadway, they realize many people do not have the cash and cannot obtain a loan on unfinished project so they will work with you if you have the means to carry the project.
sparky37 Wanted to pop in and say Hi! Been tough to get in live with my schedule but i am reading the transcripts
broadway thanks dwayne
rh Charlie, do you feel it damages your reputation with other agents as the agent who regularly brings in low offers?
Mike_Summey rh, it’s up to you to explain the difference to them.
Joshua Dwayne, what advice do you have for me in trying to sell portfolio lenders on a fixed payment, floating interest rate loan? This is VERY uncommon in Houston and I’ve spent over 1 yr trying to make this happen with no luck.
broadway Dwayne, how do you like Mikes amortization of the loans he does? Was that something that was difficult for the bank to work with at first?
Dwayne_Wiseman Joshua, does the loan have an interest rate floor or ceiling?
Roger Dawson Joshua: why would you want to do this? Their are fixed rate 30 year loans available at sensationally low rates right now/
CHARLIE Rh, i know all the true foreclouser agents in my area and i have a good reputation with them. I cann call them and they call me
Joshua Dwayne, I would be fine with a floor and ceiling.
hawkeye775 Charlie, I missed the first part of the chat. Do you work in Asheville?
rh Roger, aren’t fixed payment floating rate loans what Mike uses?
Dwayne_Wiseman We have not had to finance one for him as he wrote a check.
Joshua Roger, I own too many to do secondary market loans with 30 yr ams. I have to do portfolio loans.
Mike_Summey Everyone, I lucked on to Charlie purely by accident. I made an offer on one of his listings. When we met, I like him and the rest is history. Charlie, has anyone bought more properties through you than I have since we ment?
broadway thanks Dwayne
CHARLIE Hawkeye,i work in the anderson area of south carolina
rh Mike, when you made that offer to Charlie, did you make it through another agent that you stopped using?
Mike_Summey Dwayne wants to charge me too much interest, so I just deal with him on a cash basis.
broadway ROFLOL
Trav 😀
broadway Mike, it’s not because you’re a bad credit risk I’m sure
Mike_Summey rh, I don’t remember. Do you remember Charlie?
Dwayne_Wiseman Joshua, I am not sure why they wouldn’t want to give you a fixed payment. Most systems can adjust a payment if interest rates rise if your tied to prime or libor. They could also add a 3, 5 or 7 yr rate call and adjust at that time but most system adjust now when rates move upward.
CHARLIE Mike, you have become my leading buyer. I have some buyers that will buy one or two a year.
rh Mike, a general question about fixed-payment/floating-rate loans: I know you try to amortize the loan at a higher interest rate, but in periods of rising interest rates with a fixed-payment the amount of principal being paid off would decrease, so what adjusts? The number of payments?
Dwayne_Wiseman Mike, us poor bankers have to make a spread to pay for overhead.
hawkeye775 How is the market in Anderson, Charlie? I live in Asheville, which is getting a bit better lately, but prices are still hard to make work. I’ve had more success in TN.
Mike_Summey rh, I use a fixed payment floating rate with a 5 year balloon. I usually set the payment based on a 15yr amortization at a rate .5 to 1.5% above the prevailing rate at the time. During the 5yr term the payment stays the same but the principal and interest adjusts based on the prime rate fluctuation.
rh Charlie, how many offers do you make for Mike every week?
Mike_Summey Hi kevin
Dwayne_Wiseman Hawkeye775, Have you talked to Scott Nesbitt about some of our properties that may be available in Asheville?
rh Mike, so that means nothing changes during the life of the loan, the payment and the length of the loan always stay the same even if the interest rates rise above 1.5%?
Mike_Summey Dwayne, I don’t mind paying for your overhead, but I don’t what you to get rich on me! 😀 😀
Mike_Summey Hi barbie
Joshua Mike, do you protest your own property tax values or hire a company?
barbie hi everyone!
hawkeye775 Dwayne_Wiseman I haven’t and I missed the first part of the chat so I didn’t catch your information. What bank do you work for?
Dwayne_Wiseman Mike, your class is really growing!! A lot of new people.
CHARLIE Hawkeye, it is a number game, you have to kept looking, in my opion it does not mater were you are you have to look and make offers, and fallow the properties. I have gone back to some six months later and been able to close those at a lower price
Dwayne_Wiseman Blue Ridge Savings Bank
Mike_Summey rh, at the end of 5 years we adjust everything and start over for another 5 years. The actually payoff may be anywhere from 12 years to 18 years depending on what rates do.
kevin Hi Mike and Dwayne. Sorry I’m late. Dwayne, are you lending on apartment buildings these days? If so, what kind of rate/terms?
hawkeye775 I’ll have to inquire. I’m still new to investing and haven’t made all the contacts that I should have. BTW, do you know Gil Walden?
CHARLIE Rh, i look for properties for weeks and when i get atleast 10 i think fits his critiara we spend a day and make offers on all properties
Dwayne_Wiseman Hawkeye755, yes we worked together at FCB and BRSB. He is back at FCB.
Joshua Charlie, are all the properies you find for Mike REOs? If not, how do you find the other sellers in distress situations? Long days on market?
Dwayne_Wiseman Kevin, At this time our Bank is not unless we own the property (foreclosure).
Mike_Summey Dwayne, tell everyone about the two house I bought from you that we looked at on Tuesday and closed oN Thursday.
broadway Charlie, do you use Offer Generator for Mike to help weed out some that he wouldn’t consider over pricing?
rh Dwayne, does your REO division prefer dealing with offers through real estate agents or are they comfortable having investors contact them?
Mike_Summey Hi brian
brian_in_pd Hello
Dwayne_Wiseman rh, either way is fine. if an agent is not involved it can save both of us money.
Joshua Mike, do you protest your own property tax values or hire a company?
hawkeye775 Dwayne_Wiseman I’ve known him for years through his inlaws. Good guy.
Mike_Summey Joshua, I do my own protest. I protested every one I bought using Charlie last years and everyone one of them were reduced.
Mike_Summey Hi Penny
CHARLIE Josha, not all are foreclosures,time is also what i look at.
hawkeye775 Dwayne_Wiseman I’ll have to give Scott a call. I need more information on financing. I’ve used up my four conventional loan limit.
Penny pheww, what achore trying to reconnect to internet service
Dwayne_Wiseman All, we showed Mike two houses we tried to sale for a period of time. He looked at them, made an offer and I made the decision on the way back to the back. Both properties were rented and I believe still rented some three or four years later.
Mike_Summey It’s coming up on 9:00 and we have a good crowd. Charlie & Dwayne, can you stay a few minutes longer?
Dwayne_Wiseman Hawkeye775 call me or him at 285-2209 or 285-2200.
Dwayne_Wiseman Sure.
hawkeye775 Dwayne_Wiseman we’ll do. thanks
Penny looks like a packed chat…I missed it, but I’ll read the transcript.
CHARLIE Broadway, no, i have a good feel for what mike is looking for. He has bought one house sight unseen just from use working together.
Mike_Summey Penny, we’ve been working Dwayne & Charlie over tonight.
broadway thanks Charlie
Dwayne_Wiseman Hawkeye, he is.
rh Dwayne, sometimes Mike’s offers are 50% of asking price. What would you consider an unrealistic offer from an investor?
kevin CHARLIE Do you use public records at all in locating potential deals?
CHARLIE MIKE, YES
Mike_Summey rh, my offers aren’t alway’s 50% of asking price, only when the asking price is 200% of what it realistically should be.
Joshua Mike, how do you come up with your maintenance reserve % in your NOI calculation? I know in your books you use 5%, but am wondering if you adjust this on a formula based on age or condition, neighborhood etc?
Roger Dawson I need to leave now. Dwayne and Charlie, thanks for sharing your expertise.
Dwayne_Wiseman rh, it depends on how much time we spend up front with them and if we put them on the money. If they come in that low we are dissappointed. If we get an offer that low through a RE agent we just counter it quickly.
rh Mike, I’m just using it as an example. 🙂
CHARLIE Kevin, i use the mls service and the agent in town call me if they have a good deal.
Joshua Mike, also does your maintenance % also take care of your “make-ready” in between tenants or does that come from somewhere else?
Mike_Summey Joshua, yes, the mait=ntenance percentage I use includes everything.
rh Mike, I’m catching a lot of flack from my agent for making low offers. He basically won’t submit him. I have a contract with him for another four months.
Mike_Summey rh, get another agent!!! Ask Charlie about that.
rh Mike, I will definitely replace him when I can. It’s making for a long summer.
CHARLIE Rh, all agents are suppose to summit all offers that are sent to him. This is a law in south carolina
broadway rh, I think that’s the law anywhere, it is in Missouri
Joshua Mike, I wonder how only 5% is enough for all of that unless you completely remodel a house to new when you acquire it?
rh Charlie, he will submit them when I force them to. He’s mastered the art of evasiveness. It takes so much arm twisting I having to start yelling before it happens.
CHARLIE Rh, you can ask him to release you from a buyers agent at any time here
Mike_Summey Joshua, where did you get 5
Mike_Summey 5
Mike_Summey 5%?
rh Charlie, I will look into that. The contracts are pretty binding.
kevin Mike_Summey Who do you like for property management in the Asheville area?
Mike_Summey I vary the percentage based on the age and condition of the property.
Joshua That’s what you use as an example in your books. What do you use then and how do you estimate? I use 10% but sometimes wonder if that’s enough.
CHARLIE Rh, turn him in to the board of realters in your area.
hawkeye775 kevin, i just started using Bayshore, please so far
Mike_Summey Kevin, I am currently using Alpha Real Estate and Bayshore Company
hawkeye775 only one property
Mike_Summey Welcome back Penny. You must be having problems.
Mike_Summey Dwayne got startred well ahead of the curve with disposal of his bank’s foreclosures and as a result has gotten more for them that many of the banks will be able to get today.
a Penny double yep,
Mike_Summey Joshua, the older the property the higher the % needs to be. The more deferred maintenance a property has the higer the percentage needs to be.
Joshua Thx Mike, what would you say is a low to high range you use on your properties? 5-15%?
rh I should get going. Thank you Dwayne and Charlie for some very helpful information.
Mike_Summey We have several people who have been very quiet tonight. Do any of you sleepers have a question before we wrap up the chat?
Dwayne_Wiseman rh, you are welcome.
hawkeye775 Thanks a lot Charlie and Dwayne
Mike_Summey Joshua I’ve use as low as 5% and as high as 30%
CHARLIE Rh, your welcome
Dwayne_Wiseman hawkeye, you are welcome. Scott and I look forward to meeting with you soon.
CHARLIE Hawkeye your welcome
broadway yes, thank you charlie and Dwayne. Very good chatting with you both tonight. it’s always great to chat with Mike too
Mike_Summey My son Jason just logged in. He forgot us tonight. Eveyone say hello to Jason.
hawkeye775 As always, Mike, thanks for an informative chat. Goodnight all.
hawkeye775 Hi Jason
CHARLIE Broadway your welcome
Dwayne_Wiseman Broadway, you are welcome.
broadway Hey Jason! Missed a good chat tonight
Joshua Dwayne and Charlie, thank you for your time. Mike, as always thanks for the great info.
Mike_Summey I think Jason is having problems too.
Dwayne_Wiseman Joshua, you are welcome.
CHARLIE Hello jason
jason hey charlie, sorry I’m late had some homework and had problems getting logged in tonight
CHARLIE Josha your welcome
broadway Thanks again Mike and everyone have a terrific rest of the week! I’ve got to find some more properties!!!!!!!! Good night to all!!!!
CHARLIE Jason how is school and the baby
Mike_Summey Everyone, we had a scare last night. One of my son Matt’s friends went down in an Apache helicopter and for about 3 hours we didn’t know if it might have been Matt. Thankfully, he is safe.
Mike_Summey Dwayne & Charlie, thanks for joining us tonight. You’ve added a lot to this evenings chat.
jason keeping me very VERY busy lol
Dwayne_Wiseman You are welcome everyone. Have a good night. Thanks for the invite.
Mike_Summey It looks like most everyone is logging out, so we’ll call it a wrap for tonight.
CHARLIE Jason missed seeing you the past couple trips
Ty very informative! thanks everone!
Ty goodnight.
jason I missed being there for sure…not much longer though…nursing school is more than I though it would be LOL
Mike_Summey Goodnight all! See you here next month. Be sure to read the transcript from tonight tomorrow on the website.
CHARLIE Mike good night talk to you tomorrow
a.nawesh Kevin, it looks like we are too late

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