All Forum Posts by: Jeffery Waicak

what kind of project? Construction?  

  When the  project comes through,  rents will skyrocket,  triple what they are normally say 1500 for a 500 1bd  When this happens, a lot of landlords will do what they can to get the units empty.  So the people there leave town because they can't afford it.  The traveling construction workers come in, with more money than sense and spend a lot of money on dumb stuff. All the investors are happy.  Then the project wraps up I would guess less than 5 years. The workers move on and there's less people in town because the local people couldn't afford to stay. So now you can't fill a unit at 500. I would guess that most selling now are going to want a premium based on the coming boom. Unless I could more or less pay it off in 5 years o wouldn't be interested 

if your numbers are accurate, It would be a hard yes for me. That's great roi.  And all in for 50k, once stable would have a good bit of equity. 

  This isn't a deal for a first timer unless they have a good management company in place. 

@ Enrico Mariani  I enjoyed  meeting you too. Thanks for coming, see you there. 

 @Matt Kauffman sorry you can't make it. I'm going to try to keep it growing. 

@Zach Zimmer I hope you can fit it in! I look forward to seeing you. 

 @ Sarah Miller. It's definitely a great place to network. We should have from newbies to local experts, everything in between. 

 I will continue to post as meet up #x as I think we may need more room at some point! 

@Eddie Litalien. You have a great attitude.  You're on the right website to learn. I have another question for you,  WHAT IS YOUR WHY? 

Why do you want to do this?  I'll be honest, I don't think you need this answer to get started.  I do think at some point you'll need the answer to keep going though.   If you haven't already,  take the time to figure out your why. 

  From there my friend,  it's a done deal. Just keep learning, working, and applying. 

I think you should always have a solid emergency fund, until you get to say 50 doors.  Yes the world's economy may crash,but I care far more about my personal economy, and I have busted in a boom market. I really need to take this advice and build a little more cash reserve. 

  As far as preparing for the next recession you can hoard cash, gold,etc and I don't think any of that will hurt you a bit. During the last recession of 08 there was private money being loaned so I suggest find your sources,  and build relationships with them. 

Build your team now,build your portfolio as solid as possible.   Any properties you acquire now, buy them right, in my opinion, that means buy for cash flow now, not appreciation, solid loans, etc.   From this position when the corrections happen you will thrive.  

We had a really good turn out yesterday. I really enjoyed myself, and I think a good time was had by all.  We are going to do it again this coming Wednesday. Same place Roosters in belden village 4335 Dressler nw canton ohio 44718.  7 pm.  If you didn't get a chance to make it last time, maybe you can make it this week. If you have any questions, my number is 3303543856. 

Thank you to everyone who came to the meet up! It was a great time. We will do another one next Wednesday same time same place.   7pm Roosters in belden village. 

@kevin Powell sounds good. This is a great group to learn from, and network with. 

I'm pretty sure it's illegal to split the bill up. It won't hold up in court.at least as far as I know in my state. Your best bet would be to charge a utility fee on top of rent as a flat fee.  That way rent isn't so high.  Instead of being x it's y+$100 electric fee and $40 water fee. 

excellent. This is going to be great!