All Forum Posts by: Earl Hatmaker

@Jay Hinrichs haha, people write books on real estate? Stop giving away all the secrets!

@Mark Fries i would gladly take $200 a door in my neighborhood where I raise my family vs $500 in the slums. Chances are you aren’t receiving your rent and your turnover/eviction cost are astronomical.

You’ve missed something in your research. If you had a $50million apartment complex and it only cash flowed $200 a door and was being payed down that wouldn’t interest you?

You’d rather own a $40k place free and clear With just your cashflow?

@Mark Fries are you paying cash for all your properties? Is that $500 net per door?

Does your tenant  receive a check if there is excess power produced? I doubt it). This sounds like something you the LL did to try and make an extra buck on a property. Did the plan not work?

What is the cost to "lease" the panels? What do you do when you decide to stop leasing? What is the damage that has been done to you house?

If they are not paying an electric bill and the cost of the "lease" is lower than a bill would be I would just build this into your rent price in the future. But as it has already been said, you  need to be specific on your lease from the start.

@Aaron Hunt where is the sticks? I live in Dayton, Ohio. I am 5 minutes from 75, that is a major interstate incase you were wondering. I am also 25 minutes away from Dayton International Airport, 5 minutes away from a large private airport, and 45 minutes away from Cincinnati's airport. So I think it safe to say I can be wherever you go just as fast maybe faster without traffic. I spend my money, well my companies spend money, I don't put it in any silo friend.  

Also who said I am plowing sub 50k investment to get cashflow?  Any sub $50k investment I make will net profit over $100k within 12 months and I could hang onto the property for cashflow as well if you want to deal with all those headaches like you said. 

But regardless of one way to invest, my focus is to own multiple doors under the same roof. Im talking about 100- 200 doors, but whatever the count of doors doesn't matter. All I am saying is I wouldn't make investment to take a loss and I know my investors wouldn't be happy throwing their earned money into a fund for no return.

My last sentence is focused on anyone who still receives a pay check. You are making 500k a year at your job, losing 20k in real estate, you are using the loss on property for tax benefits. 

I've never had a full time job except for when I was in college so unfortunately I never was able to do this.

I do agree that the "hustle" on here is more "job" focused as most people are putting too much work in for such little gain. I am not looking to own SFH unless I get them for pennies on the dollar and can flip.

I also roll my eyes about people wanting to build wealth by sitting on their capital. I also have 3 kids and its nice to be able to be with them as well, which wouldn't be possible if we didn't own our home without a mortgage. Just because I live in the midwest now doesn't mean I'm not well traveled.  I thought starting in my back yard would help with finding investors and I was right. 

@Aaron Hunt so if you had apartments all over the country and each was losing 20k or all together your net profit was -20k that’d be ok for you?

Knock the hustle all you want but when “us” people in the Midwest can match your income and our cost of living is a fraction of your cost who is creating real wealth?

You can keep 3 doors for 2 million. I'll gladly take 25 doors that cash flow, where I can FORCE appreciation and my tenants (op) will pay my mortgage and at the end of the day sell for a profit or hold with smaller appreciation than the coast... What's wrong this vs losing money to hold liable real estate (SFH)

If you make 500k a year and loose 20k a year investing in real estate, your not an investor. You’re more than likely just taking tax benefits.

@Aditya Soma congratulations are in order my friend. Welcome to the dark side, now you can’t look back!

Leaving your job will push you to work harder and stay determined!

Way to go!!

@Aaron K. commission based should only make money if you make money. An advisor at X firm gets paid as long as you sign on.

@Taylor Burns run away from any "planner" as they are going to sell you life insurance... however if you go to your local REI meetups you will meet investors that can help you structure a finance plan for real estate. Oh and you can physically see, touch, and feel your property. Good luck feeling your index fund.

@Laura Williams sell them off, take your profits and invest in actively or passively invest in apartments.

Why take the loss unless it helps off set something from your income!?