Gulf Coast Real Investment Something or other

Horrible day with jetlag and my cold/cough. Got some sleep during the afternoon and then at about 530ish got a message from a realtor "lets go to the Gulf Coast Real Investment thing tonight".

So....sprang into action, showered and went straight to the restaurant where they hold their monthly meeting.

Interesting speaker, guy buys apartment blocks, uses owner financing mainly, has investors (by way of IRAs), keeps saying "Never have to use any of my money" - which doesn't feed confidence.

I know what he's doing and it's all legit, and quite good business, but not really the business we're into. Interesting as his "First realty deal" was the one in this slide - which looks very like the deal we did in February ;)

Very interesting group. Going to enjoy going to that each month.

One thing he said "What was the scariest thing you've done in your real estate business?". He was looking for the answer "buying the first property", which everyone agreed with.

Nope, not me. My first one was exciting! Nope, scariest thing so far was that evening after the meeting, when an old couple at the end said to me (personally) "we're looking to sell our rental units so we can retire - are you buying?". There you go - my scariest moment, meeting old folk looking to dump rental units.

Another interesting thing was that the people in the room were split into two camps, the older folk (60+) and the younger folk (40-) (and a few in the middle of course). Very interesting to see a split in ages.