All Forum Posts by: John Blythe

@Leo Koonan, yes. It’s more appropriate for someone wanting to take it to the next level and compete w the higher price points in the markets. 

Hi, all.

I picked up my first investment property 2 years ago. We rehabbed it to get it rent-ready and had people renting it out ever since. 

We want to go ahead and move on to multi-families at this point so are trying to get this house off of the books for the moment.

Would love to pass it on to someone from BP since this site and podcast have been so helpful in getting us started on this journey.

very helpful on both fronts, @Alex Deacon. appreciate the info!

thanks for the info @Account Closed. that was more or less my initial take on it as well but wanted to tap into the community's experience in case i was off base in my assumptions/gut.

follow up question, roughly how much of that 30k could be kept? or does the tax on capital gains vary based on where you land in the income spectrum?

hey all.

did a BRRRR last year and learned _a tonnnnn_.

still wanting to do BRRRR as our general strategy, but have come across a potential flip. wanted to see what some of your rules of thumb are concerning profit, margin, etc.

my moderate analyses are putting me at ~$30k when all is said and done on a $350k sale. is that decent? terrible? nearly nothing post-taxes?

would love to hear the thoughts on flip specific bugaboos to watch out for and guiding principles to keep in mind that are different from BRRRR/hold strategies.

thanks!

Hi all In Keller's "Millionaire REI" he mentions the 30:10:3:1 lead gen ratio on page 216. It makes sense and sounds great. I'm curious, though, what you think the bridge is in between 30 and 10. He says the 30 meet his criterion but that the 10 "warranted serious investigation." What makes it so? Basic analysis of numbers? More info found via a walk through? Something else? Ditto between 10 and 3 (only 3 are worth making an offer on) The 30 are assembled by the criterion and the 1 deal is sifted from 3 by the terms, so I'm wanting to know what mechanisms you think he is assuming for the other two steps and/or what *you* use in those steps to whittle down. Thanks for any input!

i'd be glad to! fellow n00b here, so others can comment w much better lists i'd imagine.

rich dad poor dad. personally not a fan of the format, but everyone seems to love this one. i read it in highschool but revisited it when beginning REI. despite the meh nature of the writing and anecdotes, there are a handful of principles and concepts that can serve as a sort of Copernican revolution to your outlook on finances, assets, REI, etc. protip: much easier to blaze through the boring portions and still pick up all the goodies when listening in audiobook format at 2-3x speed.

multi-family millions by david lindahl was a great read for me. really helped me to dream big on the ultimate direction of my REI journey. i'm nowhere near the apartment complex stage, but many of the concepts bleed over to whatever angle your REI approach may take.

ABCs of real estate investing was another beginner's guide that was helpful in orienting my thoughts. 

gary keller's the millionaire real estate investor is by far the most thorough, comprehensive, and helpful. like i'd mentioned above, i very much wish i'd read this one before getting our first deal. 

i'm in the middle of another that i can't remember the name of that deals w all the tax loopholes and provisions that REIs get to take advantage of. it's a solid one, but will be mainly used for reference in the future.

out of what i've read so far, i'd suggest knocking out rich dad poor dad (again, on audiobook if you can handle that, will make the read much easier imo) and keller's book. orient your high level thinking via RDPD and get you a crapload of tools, charts, figures, ideas, etc. from Keller's nitty-gritty and incredibly practical work in TMREI.

happy reading and happy holidays!

Hey everyone. There's plenty of discussion concerning getting renters into a property raises its value, but I've yet to find any rough estimates as to how much. I have a property that was appraised at 130k. We've got tenants in now. What conservative estimate can I use to figure the current value of the home w the tenants in place? Thanks!

@Account Closed , have you read Gary Keller's "The Millionaire Real Estate Investor" yet?

i had it as one of my first REI books yet didn't start reading it till last month. and shame on me for having read many of the others beforehand. he kills on the subject of offer terms and the way they can help to really sift out otherwise dangerous to terrible deals. highly highly recommended.

I'd say update your offer to make your monthly cash flow per unit double *at least.* Worst that can happen is they say no and you avoid a too-narrow-of-a-margin deal.