All Forum Posts by: Shawn Coverdell

We have a PM. I fired 4 or maybe 5 PM's before finding one we could tolerate. The trick really is to not loose focus of growing your cash flow. You need enough units so that you will not cry over PM fees. As long as you can do the things you want in life and bank account goes up and not down. Who cares. You will die soon. Let someone else smell the pee and step the poo from that Pit Bull you did not know your tenant had. We travel alot and like to get out and do things. We can get pretty loose and still see the bank grow when we get back home.

The biggest issue is trying to get a W-2 worker, who gets 18 bucks from a PM to do a good job on maintenance. It never works! So you have to have your own guy to turn units and get things freshened up so your units always look great and you get the best applicants. If you leave it up to a PM or licensed contractor to turn your units you will notice things go downhill quickly. Your own handyman is the only way to keep things up and not pay 500 for a new water heater. Have him go to Home Depot, buy water heater and install in say 2 hours. 50 bucks labor and a mid range 300 heater and he is off to the next task. Have him side your properties, roof them, new windows, whatever and you will feel great and sleep well.

I think the general idea of doing a BRRRR investment was to use your own cash. Borrowing the cash muddies the water and takes from profits. I think it got to the point that so few had the cash that they started financing them. I still believe you are best to use your own cash.

Refinance other properties if you have to in order to load your bank account. Then use that cash to complete a smooth, low stress BRRRRR.

I do carry a gun for last resort protection only, and I think most landlords should. I agree with jill. In my area, mostly Longview and kelso WA. the closest we get to a real gang member is a young teenager doing meth with his single mother. Learns from a rap video that XIV is a gang symbol and paints it on one of my fences. I use a solid paint stain on all fences. This way the only weapon needed to win the battle is a paint brush and a gallon of the matching color. 

I used to get upset when the neighborhood gentlemen (grown men sometimes) would wear there pants low enough to display there butt crack. I am a heterosexual so I am not in the market for such a product and find it offensive. But now that I understand there customs I am more understanding. It is a mating ritual. Men have always had a tendency to attempt at attracting the ladies by showing off there assets, most commonly a vehicle or expensive clothing. But if you are 45 years old and your vehicle is a BMX bike with a blue tooth speaker taped to the handle bars and living with your mother because she is eligible for HUD, stamps and EIB, The only thing you may have to offer the opposite sex is the fact that you have access to running water. What better way to show proof than airing your clean crack.

You will make way bigger profits than what is common. In fact, you will stop telling other investors about your numbers because they will not believe you anyways, but few survive the Hood. Just look around. You have to be able to work around absolute NO hope. Some of these people are so bad off even I refuse to believe it. They choose to be this way. 

You have to find those 1 in 100 tenants with a spark of life in there eye. and you absolutely MUST know the difference between that spark and what we call Heroin Eyes. It takes time and money (losses) to learn these things. 

Wow, that's one way to skip eviction costs I suppose. Is this a ghetto area?

Wife and I decided to finish our last rehab, get it rented and travel the earth. We will try to resist buying more homes (very addicting!!!!)  and enjoy the finer things. Take a cash position until the next housing crash possibly. If your passive income is more than you can spend even while traveling excessively, do you need to generate more?   I think many of us have cracked the code, broke our chains and beat the game. Keep playing anyways?  

I often wonder if the only reason I keep investing is because I am still in disbelief that I am financially free?!? I am not sure what to make of it to tell you the truth. 

Maybe we will run into some ancient wise man in our travels who can clear it up, but for now, especially in this market it makes no sense to deal with all the drama. 

We live in an age of Hotwire and expedia and all these sites. Wow. I am booking flights to places I only dreamed of seeing!!!

I am laying down my spreadsheets and picking up an itinerary.  

Your bank balance. Quit your job, Go on a long vacation. when you return, recheck your balance. if it went up your most important data is good. if it went down. Buy more properties and try again. 

"All 14 Alaskan Huskies are emotional support animals. We train them every morning. They are a dog sled team."

Funny. I only know a couple people who are not Bro investors. I am surrounded. Do you think it is due to the new legalization and wide acceptance of marijuana?  What is causing this?!?  I am constantly vacationing to avoid the questions. 

Don't look too far off. Keep in mind that you will be paying the general contractor about 2K for 1 days work. He will pay his employees a few hundred bucks and the rest will go to materials. His profits will be between 1,500 and 2K. 

If you hire your own roofers and spend the day babysitting them, SUPER easy this time of year. That 2K savings can go towards your next deal. 

No, you do not need a license, just do it. I have a license and not once has anyone ever asked me for it. 

Shawn Coverdell

Homes in the Hood

If they will not pay you now, they will not pay you if you have a judgement. Paper means nothing to a system person. Let them file when they see it on there credit report. In the unlikely event they do file, you will be the defendant and have better odds of a win. Burden of proof is on them.

Keep records and notes. You will forget

Shawn Coverdell

Homes in the Hood