All Forum Posts by: Garrett Cuppels

Does anyone have experience owning a laundromat? Including financing strategies and cost of operating. Maintenance, the life cycle of commercial W/D, and the cost of converting from coin-op to debit card operated? 

I am considering purchasing a sober living house in Georgetown, DE. It has 5 bedrooms and earns 5K per month, but the owner is asking for 360 K.  It will be managed by a behavioral health company that guarantees a house manager, so I am shielded from any issues with the tenets. Furthermore, they will pay the monthly rent to my company regardless of occupancy, so the 5K/month is assured. The seller wants 20% down on a seller-financed deal.  But I wonder if I can do better using a mortgage broker.  Any advice is appreciated. 

According to Tom Cruz hereafter referred to as DB, I wasted 31 years of my life training to become an ortho surgeon but the DB doesn't understand some people enjoy their jobs and are passionate about helping other people.  I retired from ortho in less than 10 years bc of solid investments but he will be forever the loser DB with a garbage reputation peddling info you can easily find on your own.  No real talent, no skills, no friends that are not being bought.  All lies and manipulation of people who do not see through him. It's easy to see why he is so insecure. You actually need intelligence to become a professional and dedication.  He has neither. 

Exactly except prices for the first-time investor are high.  There are other vacation locations most people might not know about. Like Broken Bow Lake in OK that are value-priced and ready to be rented.  International rentals are cheaper too to purchase.  South America and Central America are good examples.  I can't give away all my locales but it's not hard to find them if you search around and ask people. I mean people in the MidWest need to go some place if they can't come to FL. LOL

 I called him out as a fraud and asked for proof.  Instead, he insulted my profession as an ortho surgeon which indicates to me I was right about his videos.  His IG videos are low-budget and I have seen grade schoolers make better vids.  In Miami, we all know how people use rented cars, boats and houses to give themselves credibility.  5k for me is pocket change but I never like to spend money on a losing investment.  The info he claims to have is easy to find on the net or in a book but why deal with Section 8 housing problems when there are so many other investments that are nearly hands-free?  Time is money and I prefer spending my time with my fam and friends instead of problem tenants and legal cases.  Use your 5k and find a decent 1-bedroom condo and put it on AirBNB.  Build your portfolio as your knowledge and wealth increase.  When it comes to AirBnB I have found its location, number of beds then amenities like kitchens and outdoor spaces that attract quality guests and demand higher prices.  I literally saved you 5k with just that info. 

 That was just one of my properties and I now have multiple in different vacation locations.  Midtown and Brickell in Miami are the hot spots for the city.  But I am involved more in multifamily and hotel resort investing now. 

 Here is everything you need to know about S8 housing. Eventually, you will be sued and end up in court. You will have tenets who destroy your place, use it as a trap house or drug den and will accuse you of being a slumlord no matter what.  Sounds fun.  Right? Oh wait the profit margin is garbage too.  (700+ properties yielding 600K is less than 1K/property before expenses)   Lastly,  many property management companies refuse to manage S8 housing for the above reasons so good luck. 

I have never paid for a course but spent $15 on a book about Airbnb rentals and it's simple math. Buy a property in a high-profile vacation destination with a few thousand down. Rent said property on Airbnb bc short term profits are more than long-term leases. Use your revenue to pay the mortgage, property management company and expenses then pocket the rest and repeat.  

No one should pay for readily available info that you can find on your own.  Realtors, websites, YouTube and books are all low cost.  But yet Tom is making a killing convincing you he has the secret to wealth when the secret is just doing your own research and putting it to work. 

He is different than a personal trainer bc at least a trainer cares about your results and isn't lying about their own. 

So this is what the gurus won't tell you bc they need to sell their courses and are very good at manipulating you into believing you can't do it without their secret info.  Get some Airbnb's in your portfolio and build your net worth and income then branch into apartment/condos/hotel investing where the occupancy rates are 85% or higher.  It's an asset that provides stable predictable income as well as appreciation and tax benefits next step buy yourself a Bently and celebrate. 

 It is a scam. He charges 5k for info you can get from any realtor who is familiar with Section 8 housing or on Google.  His videos use rented props to make it look like he's some guru but he is bottom-barrel scum who preys on the vulnerability and ignorance of people. His reputation in the real estate world is garbage and he loves to say he does not trade time for money yet to find, purchase and renovate over 700 properties, deal with Section 8 tenets, time spent dealing with lawsuits etc he is doing exactly that.  Ask him for proof of his success by being transparent with his car titles, deeds and tax returns and his default is to insult you while touting his amazing lifestyle.  So I saved you 5k and read my post above on why short-term rentals are a far better investment without the headaches of going to court to recoup damages or fight claims of being a slumlord (which by all accounts he is) 

It's 5K and the guy is cringe and by many accounts a slumlord. He uses rental cars, boats and houses to give him credibility he does not otherwise have as he never shows proof of ownership. It's the basic formula for selling an online course that teaches you nothing you cannot learn on your own. Section 8 housing is not a secret but it is plagued with problem tenants, lawsuits and low profit margins.  Even Tom's "empire" is 700+ properties that he says bring in 600K/month.  That equals less than 1k per property. Take into account your mortgage, a property management company and other expenses and you are lucky if you net $300. 

Now take short-term AirBnB properties like one of mine in Miami. It lists for an average $250/night which brings in $7500/month.  I use $2500 to pay expenses and save what's left in a fund for repairs etc...So I can count on approx 5K/month in gross income.  Not one lawsuit, the guests are respectful of the place and it's easy to repeat the formula in multiple real estate markets across the country. Not to mention the tax benefits it allows. 

His course will cost you 5k plus the downpayment of say $2500 on a property that likely needs work before it's ready for inspection.  Forget the course and put that money on a quality vacation short-term rental.  Then rent some exotic cars, a yacht, a mansion and some hot women so you can sell this formula online like Tom does. Boom multiple income streams. 

Caveat emptor....his 5K course times 10 suckers a week means he can gross 200K per month just on a scam that anyone can learn how to do.