All Forum Posts by: Justin Thiesse

@Theresa Harris

Absolutely. I don’t believe in buy and hold. I have done well selling properties that have appreciated. Then roll the money into a new investment.

@Theresa Harris

The one thing that changes as you start reaching your goals is the deals that once made sense, now look like a headache. You’re right about changing my goals. That includes only buying A class. properties. Less returns but less headaches. I am also selling off my smaller apartments and buying bigger ones.

When do I decide I have enough Real Estate. I having been buying apartments and storage facilities with money I make from flipping homes. It has snowballed into a very nice size reoccurring check each month, more than most make in a year. I know I could keep getting bigger, but I’m well past my goals and growing more would make me less efficient. No I don’t own a jet yet, that would probably be my first question if someone asked me if they had enough!

@Kully Millage

I have experience owning a 54 unit complex that is about the same age, that I sold. My honest opinion is to walk away from the deal. Sioux Falls is so overbuilt with new apartments that you will be dealing with lower end tenants forever. Does it have a boiler or basement. My rule now is no boilers no basements. Good luck with what you decide.

As far as financing, interest rates are great right now. I would try to lock in for 7-10 years with a bank. CFD might get interesting if the seller was to die and you have to deal with his kids.

@Erik Whiting

Vacancy is not Vacancy. I already pay for the water,sewer, garbage, mowing, and snow removal in my apartments. When a single family house becomes vacant, these become added expenses for me.

@Surinder Singh the market is strong in Mitchell. All units are full with long term renters.

@Surinder Singh

I have 2- 4 plexes and a 11 plex. I would sell in Mitchell.

@Jian Guan

When is the best time to plant a tree? Today. You sit on the sidelines for something bad to happen, while people are getting rich off of real estate. I own multi family and storage. Today I am very happy I have what I have, 25% tariffs will definitely force appreciation! Everything I buy cash flows while using equity from property I already own. I continue to buy, the properties continue to appreciate.

@Greg Dickerson

I have the opportunity buy more connecting land and build as many units as I need to. I understand I need to maximize my profits and land. Just curious on where to stop growing or keep going on this complex. My thoughts are to keep building as long as I can fill them.

I currently have a storage unit Buisness and currently building more units. My question is how big do I need to be to sell to a big investment company some day? I am currently at 47020 sq ft, and I am building another 11900 sq ft. I’m not sure if the big investors need a certain sq ft or number of units, to look at a deal. I am not selling the property but I do believe in a exit strategy. Any help would be appreciated. Thanks