All Forum Posts by: Account Closed

@Ladè Baruwa

Pretty silly question. Assume the worst. Because that is what you will get at some point if you get big into these properties lol. Murder. Drugs. Getting paid in 1’s....

I like the questions that are more specific: “I have a tenant that got shot this morning at 2 am. What do I do now?” Lol thats C & D...

A & B— Tenant is complaining that the carpet doesn’t match with the blinds and the rug is stained... pick yr poision!

@Justin Kim shoot me a DM I am in the area and am open to discussing.

Right off the top of my head. Breaking even is not a good deal—- but don’t forget about depreciation, interest/insurance deductions etc. This should give you some $ back come tax time. Also you can deduct many things since it is a duplex and not your SFown home type of scenrio.

Also—-escrow = look for reasons to reduce the price. I really never care so much as price as I do for term. If you pay 350k and can get 20k in credit for repairs does price matter at that point? Anyway. Would love to help.

@Rudy Curtler Owner-Financing by far. Big down payment. Monthly income & interest.

@Erin Dorsey Robinson not a problem. This is why we are in BP Yes?? Of course.

In regards to deals: This is how my offers begins. Motivated Seller. Long term. Owner-Finance. Subject-to. Master Lease (commercial). Contract For Deed (24-48 months balloon (with kicker). Last resort in residential: Traditional bank etc.

If you learn to utilize these I think you can be off and running. 👍🏽

@Phil Cohen woah! Good info... will be doing this!

@Rusty Scott Price reduction vs pulling out cash does not make sense in this instance. I would take cash back (more $ for my next deal, repairs) vs a price reduction (as long as cashflow is good of course or flip makes sense).

This of course is subjective to your deal. But typically I take the commission back.

@Erin Dorsey Robinson I havent seen anyone mention the John McNellis strategy here. I would give him a looky on Youtube as well.

Essentially... JV with larger developer, piece a big deal together > 1 Million. I have enjoyed his content here recently in the last couple months.

Plus, sometimes its nice to work on nice things vs the 1-4 unit business and working with people that eat with fork and knife lol (dont get offended).

@Benjamin Maciel *apologies I meant linoleum not carpet

@Gary L Wallman #1 congrats on the success! Many ways to win in RE. Opportunity cost wise 3-5k for granite, 8k-10k in carpet, that could be for many in this group a DP for another deal. Just another way of looking at things. Both ways work IMO.

My thought on linoleum has changed in the last yr when I discovered what it is made from in China and the toxins etc. Maybe something to look into.

@Charlie Anne “always Carpet and Paint. Never granite counters...” say that 10 x in a rown and that should lead you in the right direction.

One person I was working with said she “updated” the roofing shingles to get more in rent lol.. dont do that.

Clean. Simple. Safe = perfect rental.