All Forum Posts by: Jon Haft

Looking for any and all ideas on types of businesses to fill up some of our vacancies during these uncertain times. Besides groceries, guns, and liquor stores which seem to be the only ones doing well these days

I would never buy based on proforma alone. projections can be misleading. get several years of P&L to see the whole picture.

plus you need to consider if you're going to be an owner operator or pay to have it managed. did the previous owner operate or have manager. This will affect the expense report and could inflate the net. also ask about the roof, hot water heaters, age of mattresses. are the door locks magstrips or updated to RFIDs. This will be large expenses down the road.

any other hotels being built in the area? why are they selling?

A mistake I made when I was a newbie (I still make mistakes) was I repaired the drywalls and then had the foundation for a pier and beam house repaired which introduced new cracks once the house was leveled. so needless to say I had to repair the walls all over again

A house we are remodeling and trying to get it ready to rent has a drop-in electric range that measures 28 inches in width between the cabinets. All the new slide in or drop in ranges are at 29.75". we really don't want to have to rebuild the cabinets which would be way too much added cost. I have looked everywhere for a electric range that would fit and have not been able to find one.

Has anybody ever dealt with this dilemma?

maybe you should develop one especially one that serves the needs of a RE Investor 

im trying shoebox right now, but its so broad

I like how Stessa.com works with my bank statement as far as tagging to each property and categorizes it

A quote I once heard that I've always liked is "rich people are rich because they act like they are poor and poor people are poor because they act like they are rich"

my family is an example of this. My wife comes from money and they never spend anything. they wear old clothes and drive old cars, and my family doesn't come from money and they spend almost everything they earn but they have the latest clothes and cars

we have 5 rentals. 3 are within 20 min of us, 1 is 2 hours but has a PM, and 1 is 8 hours and we manage it, but i also drive there once a month for work and have a maintenance man in town

what i find to be more important than where i live in relationship to the rental as much as how far away Lowes or Home Depot is especially during the remodel phase

back in 2014 we wanted to get into flipping and so we flipped a house in a suburb of DFW. We only made $15,000 on the flip and at the time we needed the cash to get the next deal. Looking back we would have made that much in rent the 1st year and would have then made that much every year since then not to mention that the value of the house has gone up by at $40,000 since then

a lesson apparently I am still trying to learn and that is holding subs to a timeline and also getting them to clean up their mess when they are done

I also would not have over remodeled on flips ive done. the $35 granite would have sold just as well as the $55 granite

with hindsight I would have begged borrowed and steal to buy as many homes back in 2009-2010