My 2015 Goal : 50 Units by end-of-year
Current portfolio metrics :
10 Properties
15 Units
17.15% Un-levered ROI average per home
56% Average equity increase per rehab
This is a hybrid kind of portfolio. Our plan is to buy SFD & Multi-Family properties from now till around 2016-2017, at which time we plan on liquidating SOME of the SFDs to pay off some of the underlying debt that we will accumulate through the process. This is of course if the market sees appreciation. If we don't see large amounts of appreciation (And are unable to purchase properties that don't hit our minimum of 14% ROI).
In 2014 we added 8 properties for a total of 13 units.
Unlike many rehabbers, we "Do all our own work" in a sense that I don't contract all the labor out myself. My goal has been to try and do all the work internally on our properties so we can add even more equity to each deal via wholesale labor. This has worked out AWESOME as we've increased our net equity in each deal by 56% over each purchase. Many people ask us "Why not just flip them", however at the time we can refinance the property for 80% LTV based on the post-rehab value. This allows us to cash them out for more than what we paid, pay that money forward on the next property while still collecting fantastic residual returns.
Right now we're in contract for 2 properties, they are expected to close the first part of January 2015, so these will be added to the 2015 goal. This will bring us to a total of 12 properties @ 17 units.
With a rate of 1.5 units per property in 2014, we will need to raise this significantly in order to hit the 50 unit goal. If we are able to purchase & rehab a total of 15 properties at an average of 2.33 units per property we can hit this goal. This would best be achieved by getting a few quads or higher unit count properties (Commercial rather than MF residential). We do have a 4plex and 5plex we are looking at purchasing next year, which would take us to 26 total owned units.
The hurdles we expect to deal with will be primarily on the financial side, dealing with taking out equity on properties we already own for cash. Even though we have fantastic equity in our properties, banks are still somewhat slow to lend. We will need roughly $750k-$1.25m to hit our unit goal over the next year. This is a good deal of debt to take on in our area.
In this post I'll be detailing what kind of deals we look at, purchase and the various problems we encounter to hit our 2015 goal!
Brandon did you end up finding other avenues for funding your transactions? I have a bank lined up in Franklin County that does them as well( I think you were using VCB?)
VCNB is holding me off till I have 2015 tax returns done. For some reason they've decided to use estimates operating expenses of 2015 vs actual income of 2014 (We only ran near 100% occupancy the last 3 months of 2014, so our income was much lower in 2014 than it would have been with all properties rehabbed and rented.
- I'd like to hear about this bank.
It'll be a long shot that I hit 50 doors by the end of the year, but it looks like I'm assured to hit at least half that.
When I posted initially we had closed/rehabbed 15 units, I am closing next week on #24 and #25 which puts me halfway to the end goal.
The most recent purchase was kind of amazing. It was a online-only foreclosure auction even that was really, really poorly advertised. More or less, if you weren't driving by this area and saw the auction signs pointing you to the house, then looking at the sign in the yard you wouldn't have known it was there.
Because of the poor advertising, 3 people bid on it - One went to a max of $500, the second person bid $2,800.
My maximum bid was around $20,000 for the house. I figure it is worth around $30,000 or so as it sits. For some reason during the auction, my bid was increased to $9,000 from the other bidder's $2,800 (It seems to have bid against myself). No big worries though, I still got the house for a third of the price.
My plan is to bring it up to HUD standards and go that route. The last 2 rentals I've advertised have resulted in 20-30 hud/sec8 applicants and many of them looked great in terms of quality. The sec8 tenants I have now on average are a bit better than the non-subsidy ones I have now, so I'd like to get a few more in my portfolio. I don't want to weight too heavily on subsidy rentals or ones in C class neighborhoods. Next year I'd really like to report performance on my entire portfolio and do a comparison between C,B rentals and subsidy/non subsidy.
Here's the metrics.
3/1 per side
$9,000 purchase price + $2,500 buyer's premium
$15,000 repairs (I'm being generous, the house is in good shape but in a crummy neighborhood).
$13,800/yr or $1150/mo in income ($575/side)
$1,000/yr in taxes
$1,000/yr in insurance
$2,070/yr Rep&Maint escrow
$690/yr vacancy estimate
So, with everything hitting my estimates, I'll be at a princely sum of $9,040/yr NOI from an investment of $27,500 for a ROI of 32.8% per year straight cash return.
It'd be stupid to think I can continually get a home run like this, but at any rate I'm totally thrilled with the metrics.
Also, we're on track for that flip to be done soon, it's already in contract (About 3 weeks prior to completion. Will make a tidy profit on it, we would have under-priced it at $100k, and have it in contract for a bit more, however expenses are higher too.
Likely won't get that 50 doors goal, Brandon, but sounds like you'll still have a nice year. Congrats!
Great job! Any updates to your progress?
I'm doing this as I Drive with Google Voice, so if any of it doesn't make sense please forgive me.
We have reached a total of 25 units, I think that I might be able to get one or two by the end of the year but it's kind of uncertain. This year's been a big struggle in some areas but we've also had so many successes. We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
The market continues to be extremely soft with regards to investors. I've talked to many landlords in the area and many of them want to get out of being a landlord. I would say that the median age for a landlord in our area is probably in their mid sixty's. Being a landlord has a lot of work, but it's also extraodinarily rewarding, I feel like I'm building a long term business that my kids can possibly inherent. The thing is so you gotta have a team to do it and many of the smaller landlords do not have them, the ones they do have the teams are still wanting to get out.
As it stands right now in the better of the two cities that I currently work at, there ar Addison's right now in the better of the two cities that I currently work at, there are at least for properties I could purchase for a medium for just price of $35,000. Find it in come on these would be right around 17 to 18%, someday rehab is needed but not a whole lot. Did the other town there's probably desert property that I could purchase with a minimum of 20 percent net income for months
As it seems right now in the better of the two cities that I currently work at, there are at least 4 properties I could purchase for a medium purchase price of $35,000. Find it in come on these would be right around 17 to 18%, someday rehab is needed but not a whole lot. Did the other town there's probably desert property that I could purchase with a minimum of 20 percent net income for months
Overall kind of disappointed, however not totally bummed about 2015.
Dog bumped the keyboard and it posted - LOL.
When I posted December of 2014, I stood at a total of 15 units.
As it is right now I've got 25 units, one of which looks to be a profitable flip which will be sold once we complete rehab.
MAY close on a 5 unit apartment by the end of the year, but may have to wait till January. Finally secured some serious financing for 2016, in addition to that, the banks are getting warmer on what we're doing. Hoping to definitely hit the 50 units by at least mid next year, maybe 75 by the end of the year. Falling short on my property roadmap that I started in 2013, but not overly disappointed, I started the rental business with nothing and have 25 units in a little over 2 years.
Congrats. That sounds like a good year and that you're laying solid groundwork for the years to come.
I didn't catch that did you say
"We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore."
Haha just razzing you. Congratulations on your accomplishments, keep going and keep us posted. Preferably just telling us once though, haha
Awesome job mate!
Originally posted by @Brandon Schlichter:
I'm doing this as I Drive with Google Voice, so if any of it doesn't make sense please forgive me.
We have reached a total of 25 units, I think that I might be able to get one or two by the end of the year but it's kind of uncertain. This year's been a big struggle in some areas but we've also had so many successes. We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
The market continues to be extremely soft with regards to investors. I've talked to many landlords in the area and many of them want to get out of being a landlord. I would say that the median age for a landlord in our area is probably in their mid sixty's. Being a landlord has a lot of work, but it's also extraodinarily rewarding, I feel like I'm building a long term business that my kids can possibly inherent. The thing is so you gotta have a team to do it and many of the smaller landlords do not have them, the ones they do have the teams are still wanting to get out.
As it stands right now in the better of the two cities that I currently work at, there ar Addison's right now in the better of the two cities that I currently work at, there are at least for properties I could purchase for a medium for just price of $35,000. Find it in come on these would be right around 17 to 18%, someday rehab is needed but not a whole lot. Did the other town there's probably desert property that I could purchase with a minimum of 20 percent net income for months
As it seems right now in the better of the two cities that I currently work at, there are at least 4 properties I could purchase for a medium purchase price of $35,000. Find it in come on these would be right around 17 to 18%, someday rehab is needed but not a whole lot. Did the other town there's probably desert property that I could purchase with a minimum of 20 percent net income for months
Updates pls? Still crushing it I presume.
Originally posted by @Bo S.:Originally posted by @Brandon Schlichter:
I'm doing this as I Drive with Google Voice, so if any of it doesn't make sense please forgive me.
We have reached a total of 25 units, I think that I might be able to get one or two by the end of the year but it's kind of uncertain. This year's been a big struggle in some areas but we've also had so many successes. We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
We decided to flip a property as the last point in July and we have been severely wrapped up in that, so much so that we haven't been able to buy anymore Rental. By rehab team is completely entrenched on that property and been unable to work on any of the Rental in the meantime. Because of this isn't really made any sense to buy anymore.
The market continues to be extremely soft with regards to investors. I've talked to many landlords in the area and many of them want to get out of being a landlord. I would say that the median age for a landlord in our area is probably in their mid sixty's. Being a landlord has a lot of work, but it's also extraodinarily rewarding, I feel like I'm building a long term business that my kids can possibly inherent. The thing is so you gotta have a team to do it and many of the smaller landlords do not have them, the ones they do have the teams are still wanting to get out.
As it stands right now in the better of the two cities that I currently work at, there ar Addison's right now in the better of the two cities that I currently work at, there are at least for properties I could purchase for a medium for just price of $35,000. Find it in come on these would be right around 17 to 18%, someday rehab is needed but not a whole lot. Did the other town there's probably desert property that I could purchase with a minimum of 20 percent net income for months
As it seems right now in the better of the two cities that I currently work at, there are at least 4 properties I could purchase for a medium purchase price of $35,000. Find it in come on these would be right around 17 to 18%, someday rehab is needed but not a whole lot. Did the other town there's probably desert property that I could purchase with a minimum of 20 percent net income for months
Updates pls? Still crushing it I presume.
90 units, 2 laundromats and working on two more laundromat deals.
Want to keep buying as long as I can figure out funding. Banks don't like low end rentals around here.