All Forum Posts by: Frank Trigoso

Hello BP Family,

CBS or Wood frame? I know CBS is the way to go. Thus, I would like to read the feedback of RE Investors who have owned wood frame properties. I feel the cash flow will be the same as evident to me never having a tenant ask if it's CBS or wood frame prior to renting. What exit strategies do you recommend when buying wood frame? Thank you in advance.

Yes, I blame the taxes and inflation. I give 90 days notice.

When you start analyzing deals in your head and then actually break it down to see how close you were.

Or...

You tend to always relate the conversation to real estate...

@Lauren Van Riper try contacting your bank and tell them you can't pay because of your tenant. At the end, the only thing that matter's is results. I understand, you may have a big heart, but your tenant has been dancing with you for a while. You must start the eviction process. I will educate her of the process. You need to know when to hold them and fold them, and this case it's time to cut your losses. My tenant called me on a Monday, about being late and I immediately sent out a letter of the consequences of a late payment. If you don't train your tenants then they will take advantage of you. It's a business and you must always seek the Win-Win, but you must know your boundaries. 

Hello @Shelly F., 

What helped me is to understand the numbers. Be conservative. As long it cash flows is the most important aspect. Cash flow is the holy grail.  Cash flow will weather a storm.  Know your exit stragegy to. 

@Danielle Cage I know someone who was in the similar position as you; however from the buyer side. The buyer loved the deal. You must seek to create a "Condition Certificate of Re-Occupancy Agreement." The agreement will be 7 pages. It will have the buyer sign stating he is aware of it and he is legally abiding that he will bring it up to code within 45 days.  The city provided the documents. Do your best to not lose the deal. Instead, maybe obtain some quotes to provide to the buyer and give him a discount off the sale price. Seek the Win-WIn.

Love the deal. 

@Imran Raz Utilities appears to be too high. How many meters? I will personally walk away from the deal because I'm in it for the CF. Your deal is a low PCF. Your money could work stronger in some other deal. What are your exit strategies for this deal? Be careful playing the appreciation game.

@Austin FruechtingCongratulations. Your story is inspiring. 

Hello @Casey Mericle - thank you for the knowledge. I do have a small bite size track record which I'm on working on creating a portfolio on paper. The reason I break down 100 deals to show banks and lenders that I know my math while being conservative.