All Forum Posts by: Jonathan Small

I have been buying properties from wholesalers since 2008.  I personally have never meet a good wholesaler.  I have meet wholesalers that have good deals.  I have not meet good wholesalers that I have bought more that 2 deals in their life.

I have bought plenty of off market deals from title companies, realtors, property managers, and home owners.  That is where I find good off market deals.

....but a good wholesaler....I have never heard of such a thing.

Poster is a member since Dec 24, 2024.  This is his 1st post.  I bet $1 this a bot.  I bet $2 we are all wasting our time replying to this nonsense.

I look for cashflow to service the debt, repairs, cap ex, taxes, and insurance while the equity grows, my taxes are decreased, and rents are increased to make more cashflow.  Cashflow is key!

I don't worry about what others are making.  If I want to make more money then I need to go figure out how to make more money.  I don't look at the cleaning lady and say you are making too much because I am making less.  Don't look are other people's pockets. Look for an opportunity and take advantage of it.  Don't take advantage of people.  Take advantage of opportunities.  If the cleaner is making so much money, maybe you can start your own cleaning business or figure out how to partner with your current cleaner.

I feel I have mastered rent increases.  I keep our rentals in great condition so this strategy  make is easy for me.  I usually print out the market rent provided by Zillow and a few other websites.  provide it to tenant.  Let them know taxes and insurance cost have gone up.  Ask them what is a fair rent rate to go up to.  Ex:  Lets say market rent is $1,200 and they are paying 900.  I may offer they can either pay 1,100 or 1,150.  Their other option is to move out and pay $1,200 somewhere else.

Don't just think about cashflow.  Think about capex and repairs.  Ex:  A roof in my area cost 9,000 and will last 25 years.  9,000 / 25 yrs is $360 a year.  The $360 a year breaks down to $1 per day.  As a land lord you need to be putting away $1 per day to pay for your future roof.  We still need to calculate appliances, flooring, windows, HVAC, fixtures....My point is that we need to be putting away money to keep our properties in max market rent rate condition.

look at deals on marcusmillichap.com/. These are brokers that provide professional T12. Evaluating deals on this site will help you understand expenses, income, and financial statement.

I don't think the police officer was correct.  Police enforce the law.  Judges interpret the law.  I don't think a reasonable judge would allow a tenant to remove your stuff.

Consider this, no lease says that the doors are not to be removed from the house.  So therefore a tenant can take the doors when they move out?  NO!  

I would seek advice from a real estate attorney.

I have had section 8 rental since 2008.  The longest tenant stated 16 yrs.  They took care or the property.  They paid their portion of the rent.

I have found a lot of investors bring their personal or political feelings into the investing conversation.  I too have feelings and thoughts about the programs.

After I get past my feelings, I have found that I consistently get paid and vacancy is low.  Low cost housing is a huge motivator to change behavior and keep their housing voucher.  Send me a DM is you want to discuss.

I have been buying real estate since 2008.  I am comfortable offering cash to buy 150k deals with 1-2 day due diligence.  I don't think it is smart to start off buying foreclosures in an area that goes for 500-600k.  I think you need more experience.  If you do decide to go down this road, mayby partner with an experienced investor.  You put up the money, they lend you their expertise. You all can agree to a favorable split.

I would pay a plumber and upgrade the refrigerator.  I think filtered water is expected.  This is the best long term solution.  You don't want negative feedback on your review.

I don't like to make repairs.  However, I always have to ask myself what decision do I make today if I am evaluating the consequences 2-5 years from now.  In short, don't cut corners and it will profit you later.