All Forum Posts by: Daniel Hansen

@Joseph Druther killed it with his post. 

The margin seems too low for me. I'd try to get the price down if possible. 

 Quite the valentines gift. 

Real quick on the assisted living facility. My wife is a physical therapist for a nursing home. So when I asked if an assisted living facility was feasible in this home, she said it wouldn't pass the medical board in its current condition. It would need an elevator and a professional grade kitchen to start, and apparantly the living area needs to be a certain size and have a certain amount of windows. Plus you would have to convince a company to lease the home for that purpose. So, while assisted living was a neat idea, (one which I initially thought could work,) I dont know if you're up for all the trouble @Brandon Turner. 

Frat house sounds cool. 

 I like this answer. Being clear, honest, and forthright is necessary. 

There's a bit you could do here, (mind you I haven't yet gotten a second property).  One strategy that I've heard of that sounds very common is finding private lenders to help fund your property. If you don't know any such person, another strategy is to borrow hard money and then refinance the property 6 mo to a year later. 

I'm going to point out the obvious and say that these properties seem like a high risk. 

@Mike Makkar @Shawn Thom  Guys, this feedback is fantastic. Thank you so much!

Setting up systems for your business is a frequent piece of advice given to new investors (Of which I am one). So that being said, could I get a little bit better clarification on what these systems are and how do they help your business?  Or better yet, what system has impacted YOUR business the most? Thanks! 

 This was my gut reaction.

@Jacob Beard I enjoy that you AND your wife tackled this project. It's encouraging to know that taking action can lead to fantastic results. Congratulations!