The Good and Bad of Real Estate

[Robert Shortsleeves]

YO! We finally closed on the refi for this one. GOSSSHHHH

Issues:

• 25k over rehab budget

• 3 months over estimated timeline

• Someone stole all the flooring

• Had to submit an insurance claim

• Windows took 6 months to be delivered

• Had to evict a tenant

• Cash to close on the HUD was higher than expected

• Had to extend the hard money (short term) loan

Real estate is fun but it’s not easy. Sometimes you need to look at the bigger picture to keep your sanity.

The great thing about the Fayetteville, NC market is it's extremely forgiving. 

Benefits:

• Cash flow

• Tax breaks and deductions

• Appreciation

• Equity/wealth (tenants pay the mortgage)

• Hedge against inflation.