All Forum Posts by: Jerrad Shepherd

My first income property came before I starting educating myself on rental properties.

@Kayla Elliott

I suppose you just have to ask yourself if you trust the government or yourself more when it comes to funding your retirement. Social security is a joke and it’s getting worse. Meanwhile the cash flow from my rentals/small business is getting better and better.

@Jim Morris

I had the dad of a inherited tenant call me telling me that if I didn’t give his deadbeat son his deposit back he would make waves for me. Lol, started the conversation out with so you know who I am??? The unit was left in horrible condition and it cost us around $2,500 to get it back into rent ready condition. His dad is the building inspector in the area I invest in. This happened my first year into being a landlord and it was easier for me to just give him his deposit back and go on with life rather than have the building inspector down my throat. His son has been arrested numerous times since my run in with him so daddy might have raised him a bit wrong... I would have probably done the same thing even today with the experience I have now. Sometimes it’s just easier to pick your battles. I had no reason to fear the building inspector but being on the wrong side of him wasn’t in my best interest.

@Steve Vaughan thanks for the response!

My entity bought the property and it is still in its name. So I have never owned the property personally.

We recently got our primary home under contract to sell and will be moving into one of our rental properties that is owned by one of our real estate L.L.C.’s. We plan to live in this home for several years. I was wondering what everyone’s thoughts were as far as whether or not I need to change the deed over to our names rather than our entities. We plan to rent this property out again once we are done living in it in around 7-9 years. The property will be owned outright and has a value of $100,000. It was a rental property for only around 9 months. Any insight would be great, thanks!

@Shiloh Lundahl

I feel the exact same way. When getting into business everyone liked to give opinions on why it wouldn’t work but no one acknowledges when it does. I don’t know about you but I have a lot of people state how lucky I am this or that. In the end though, it has to be about you and your immediate family. Nothing else really matters. I find I have a very hard time talking or hanging out with people from the rat race days. It’s just a different mindset I suppose.

I see the current cd rates are around 8.25% in Mexico. That coupled with the low cost of living would make it really attractive in my mind for a place to retire early. I think a good trial run would be to move $200,000 or so into an account and try it out at first or course. Have any or you thought about doing this? I realize there would be fees and such to get the currency back into dollars if need be though.

@Mark Burlison

I hear this argument all the time, I have dozens of sfh and when one is empty the others carry it just as a multi family would. Also the exit strategy is a lot easier with houses. The problem I am running into is scaleability, although most people do not wish to grow their portfolio to the size that it would ever hurt them. In my area the roi is a good 4-6% better on houses versus multi family. Most of the big money doesn’t want to mess with houses. I am fine with buying the scraps for a better return.

@Dennis M.

Facebook is great. I know within 5 minutes from looking at profile rather or not I want them in my lives!

@Jay Hinrichs

Btw, I watched the podcast you were on today. You have been around the block a few times! You have seen things that us younger investors have not. I appreciate any advice given!