All Forum Posts by: Jimmy Mills

I don't like to discourage (i.e. charge money) to good tenants for escalating concerns. Otherwise they hide things or wait until more damage is done for fear you will slap them with bill. My financials allow for repairs, be it needed or otherwise. However, I have a few clauses where the TENANT pays...like unclogging toilets. They have accumulated 400.00 in unclog fees thus far. (new house but idk what they are flushing)

My experience is that staging helps especially when you have an awkward or undefined space/layout. 

One obvious key that I overlooked when positing any sort of acceptable successful offer : acceptance ratio was, as many have suggested, goal/strategy/market/etc. I temporarily stood behind an egocentric assumption that all investors share MY strategy and would immediately understand from whence I came. Pardon me, as common sense would tell me that's clearly not the case (along with 5min of reading this thread). My strategy is to acquire one SF dwelling per year. I can cherry pick all day long, as it takes me about a year to save 20% down. I don't need a 100% acceptance yet I have had 100% of my offers accepted. Thats when I began to think, "you must be paying too much." Then I recalled the passage I quoted in the title of this thread...and the rest is history. I'm no wiser for the wear regarding ratio, though it's really a moot point, but I have learned a lot about the vast array of investing strategies and made a few connections. With this new perspective, I have to agree that the original post was "vague", "absurd", and "utterly useless". Not bad for my first original thread. Cheers. 

 Well said! And with forum member experience levels ranging from wanna-be investor to "I buy entire neighborhoods and blocks", your explanation was value added. I appreciate that.   

Thanks Russell. I get what you're saying about understanding the market. Your response was precise and technical. My musings were just that, musings. I'm getting back into a REI thats changed, reading new materials, and just poking around for peoples experience. Maybe I hit the wrong forum and don't mean to waste anyone's time with absurd questions. I'm more of a "there's no stupid question" kind of person. Then again, this is the internets...

 I'm not sure about the author. I believe I read it in the "Rich Dad, Poor Dad" series years ago. The author was basically saying that if you're like Russell, and closing 9/10 offers, you're either THAT GOOD or paying too much. I posed the question to see if there were any truth to the author's sentiment. Looks like one yes and two no. Again, thanks for your perspective. I've personally closed 100%, but suspect I'm paying too much. I always cash flow but am leery when a seller jumps at my offer. 

 Worth mentioning, you've only confirmed that you close 90% of your deals (which I don't doubt), rather than refute that you're paying too much. Furthermore, "too much" is relative and surely means something different to each person reading this.

 No need to apologize. If you've been in real estate, you know people find success and failures in all shapes and sizes. Thanks for your perspective. 

Good point. I'm on MLS at the moment. I'm new to my area. Hopefully through outlets such as this, I'll make the connections necessary to find the deals I'm looking for.

 LOL I was in the middle of reading about this and in my mind, everyone else was literally and figuratively on the same page as my thought process. I'm new to the forums and will try to phrase my comments so that there's enough background and context. But thanks for seeking clarification.