Posted by Brian Ruffo on September 19, 2001 at 17:56:39:
Thanks Tim.
I’ll be in touch!
Brian
Employment - Posted by Judy
Posted by Judy on September 16, 2001 at 18:15:49:
I’m considering buying the Carleton Sheets package and would like to know whether employment is necessary in order to purchase real estate using his plan. Thank you.
Re: Employment - Posted by Tim Conde
Posted by Tim Conde on September 17, 2001 at 14:25:45:
If you’re asking whether or not you have to be working at a job somewhere to buy real estate, the answer is no. But any lender is going to want to have confidence that you can pay them back if you take out a loan from them. I don’t have a job as such, but I have purchased a ton of properties over the years. I usually try for seller financing, and there is seldom an income verification involved.
Tim
Re: Employment - Posted by Judy
Posted by Judy on September 17, 2001 at 16:13:44:
Thank you, Tim. Yes, that was my question, and I see how seller financing could be a way around income verification required with bank loans. Based on your experience, do you have any advice for me on purchasing a duplex or triplex? I am seeking an income-producing property in which I can also reside with a positive cash flow. Thanks again. Judy
Re: Employment - Posted by Tim Conde
Posted by Tim Conde on September 18, 2001 at 13:52:05:
I’m probably the wrong guy to ask about this stuff, since I have a different way of doing it than most people.
I was a Sheets student, but it got out of hand. I’m now a RE broker, contractor, and manufactured home dealer. I build duplexes for myself. I created a terrific design that has 4 bedrooms, and 2.5 baths per side. I can build it for $250K, total. I can rent out one side for $2300 here in Northern California. At current interest rates, you’d have a PITI of $2100 or so, and BINGO, positive cash, and a free, new 4 bedroom home. Extremely do-able and the numbers actually work out. Yeah, it’s a pain to build and all that, but the numbers do work out. To buy someone elses, the numbers are tighter, at least in the areas I know. In most cases, you wouldn’t have a positive cash flow, but you’d have a substantially lower housing cost. If you have any questions, let me know.
Tim
Re: Employment - Posted by Brian Ruffo
Posted by Brian Ruffo on September 19, 2001 at 24:15:25:
Tim,
Great idea. I don’t suppose you would be willing to share your design. I might be interested in trying the same thing in Washington state.
No pressure of course 
Thanks,
Brian
Re: Employment - Posted by Tim Conde
Posted by Tim Conde on September 19, 2001 at 14:00:25:
Brian: Frankly, the design is copyrighted and really not for sale. As a builder, I copyright these things so I can use them over and over without any competition. Plus, mine was designed and engineered for California. Washington may have vastly different engineering requirements, roof loading requirements, etc. Why not do your own? Go to any bookstore and buy the plan books from HOME PLANNERS or whoever. There are thousands of plans available or just take the general ideas from the books and create your own. I designed my own and then went to an architect / engineer to make everything legal for my part of the state. It wasn’t bad. He charged me $4K for a full set of drawings and his “stamp” on the plans. Let me know if you want any help getting started. I really love the process. It is a wonderful experience to design a building and a few months later, be able to walk through it. You don’t get that from any other job I know of.
Tim