All Forum Posts by: Edward C.

I have a unit with a basement. For little in the way of capital investment, I was able to rent it out and earn extra income. I think the best alternative (as most things that require capital deployment) comes down to an evaluation of what the expected ROI is likely to be once a decision has been made. I don't know what the capital costs are for purchasing / installing laundry equipment (or having a coin operator provide all the equipment and charging lease / entering into a revenue share), but leasing an otherwise unused space for what may be considered below market rent is the closest thing that I've come across to "free money" in RE.

Agree with Matthew Olszak and Joseph M. My general take is that he is more a Jim Cramer than a Peter Lynch (drawing from folks in the equity markets). That is to say, he is a personality that makes some outrageous (and at times entertaining) statements to sell his products. The one thing I do appreciate about GC is his ability to nudge otherwise small time investors to set larger goals. Whereas I may have previously focused on 1x'ing my RE investing efforts, I never considered taking going ten times that amount. If he can get me to think of going 3-4 times what I'd otherwise have thought possible (without increasing my risk profile by a similar factor), that could be beneficial. Where I disagree at times (as other posters have also described on this thread) is when he tells otherwise small time investors just starting off to "forget that small investment and 10x it by going after an apartment complex, etc." For new investors, it's either not immediately feasible (leading to discouragement at they embark on their RE journey) or can be dangerous as newbs typically don't have the experience yet to properly assess potential risks / pitfalls that may arise.

@Joel Owens i was quoting warren buffett, but your analogy really took it to another level.  thanks for that.  hopefully okay if i share liberally with others that i come across.  thanks again. 

Thank you for the link.

I think now may be a time to tread cautiously and only swing at the really "fat pitches".  

One could argue that the shear interest in RE investing as evidenced by the activity on this website is an indicator that we very much late in the current cycle.  

I'm not suggesting folks sell everything and run for the hills.  I'd say now is a time to prune the portfolio and have some cash ready to be deployed.  

Echo the points on tax implications. Also, add to the mix the other transaction costs that are likely to arise from a sale (i.e., broker fees, transfer taxes, etc). I was in a similar situation with a rental and debated selling earlier this year. Am glad that I didn't. The then existing tenant that was providing the rent allowing me to breakeven asked to terminate his lease early. I allowed him to do so with a number of stipulations that are outside of the scope of this thread. The end result was securing a tenant with a better credit profile that is paying 12% more, providing positive cash flow. Not suggesting this will be the outcome in every instance, but concur with others that you may want to consider holding if the other aspects / fundamentals of your market remain attractive. Good luck.

@Chris Martin : Spot on. I've also had multiple 5x+ baggers. This may not go down too well on a RE forum, but equities have a place in an asset portfolio. Interesting point is that the same principles apply across both asset classes. Need to either buy value or identify potential strong earnings growth. Problem is too many are either unable to identify such opportunities or willing to go long / add to positions.

Am looking for a CPA that can help with taxes (personal, RE, business) and bookkeeping (business) in the Northern New Jersey or Greater NYC area.  Any direct intros or referrals would be much appreciated.  Thank you.

I've bought and focused in Bergen County. All of my properties cash flow well and some that were purchased in last five years have appreciated well (>50%). Point being, there are pockets of opportunity. Just need to be selective and find the right place.

Pls set one up in Bergen County as I'd like to signup. Thanks.

Darren Sager Hi Darren I'm an investor in northern NJ. Would like to connect with you and see if there are deals that we could work on together. Let me know. Thanks, Ed