All Forum Posts by: Caleb Heimsoth

@Martin W. You need to get them for much cheaper. 2 years ago I paid 35k for a property spend 4K in rehab and got 850 in rent.

That’s more rent for half the price you’re paying In this example

@Maria Marrero you need to sell. Step 1 is to call a real estate agent and figure out what you can sell it for and any work you’d need to do.

Then you list it and sell it.

Getting out of rental real estate is probably best with what you’ve described. You can make way more than 9-11 percent in methods that involve way less time and worry.

Real estate is often said to be a “safe investment” because it’s tangible (unlike stocks), but tenants bring a ton of risk.

@Maria Marrero I would sell. As a long term investment this doesn’t really beat the S and P 500. Based on long term averages it’s actually less

@Michael Hooper you could also see if you could buy some of your neighbors land to make it large enough.

@Jacob Lapp I don’t think your mentor ship has much value honestly beyond a simple one time fee. Maybe a few hundred dollars.

Your best option is to provide this type of value and convert that to sales or purchases with you as the agent.

@Ryan Myers banks aren’t idiots, they are aware of this method. You will need to find one that lets you do this.

Most banks will allow this but require seasoning of 6-12 months, which is a big deal to some people and not others

@Jim K. The better way is don’t buy long distance single family homes. Unless it’s a screaming deal (and turnkey properties never are), it won’t work out Long term.

@Ryan Huffman the light bulb price is pretty crazy but blinds seems even more expensive. How many sets of blinds? Blinds are very cheap.

You’re finding out why long distance investing isn’t great. Turnovers kill all your cash flow. Add in the PM lease up fee, probably 2 mortgage payments and this is easily a 6-7k turnover or 2 years of cash flow.

Even if your turnover is 2k, which is about as low as it’ll go, the other costs will make it 4K and you’ll have the same problem.

@Annu Zer buy Tesla stock. Better return than just about anything. 100 percent liquid, requires zero effort and no tenants.

You could have bought 1 year ago, rode 900 percent appreciation and sell. That IRR would be pretty high

@Carter Kemper why would you renew the lease? That was the first mistake. The landlord can not control where the property is located. This is an obvious rough area.