All Forum Posts by: Lee Fahy

@Shane Bracewell; I was going to type in 'start small and local to get the hang of things' then I googled Barrow, AK and now I agree with your distance investing. Haha. Good for you man. I'll be honest, I have a very hard time not being local and hands on with my properties.

Lee

The smell of cat pee wet cigarette.......stinks like money man.

I feel you, see below, haha:

https://www.biggerpockets.com/forums/522/topics/46...

@John Nachtigall; Fancy fireplace is everyone's favorite now

If you guys like the Investa-Brothel post here's a recent hit I like to call "It's -34 degrees in Minneapolis and the pipes in my passive investment are frozen"

https://www.biggerpockets.com/forums/12/topics/668...

@Henry Kaldenbaugh; Wow, passive solar in the 80s. I didn't realize people were doing that back then. 

@Natalie Schanne 

I started this journey in 2016 with almost no experience at all:

- Clowntown Brothel - July 2016 purchase, rehab takes until late July 2017; Purchase: $61,120; Rehab $21,000; rent $1150; PITI $515; Profit about $600 per month

- HUD Trainwreck Purchase - March 2018 - $125,120 purchase, rehab so far $7,800; PITI $730; Should rent this spring for $1350

- Minty Fresh colored 1900 built Duplex Purchase September 2018 - $243,500; PITI $1339; main level rent is $1250, small rehab $2,000, I live upstairs; this one is by the University of MInnesota

@Tim Kiser; I do a lot of stupid things Tim, haha, I'd rather people didn't see most of it. 

@Erik Anderson haha, don’t tell people you know that it used to be a brothel full of clown graffiti

If you are wondering you have to shimmy into the darkness shown by that hole in picture two (about 2'x2') and then belly crawl hauling your wife's favorite electric fireplace behind you for about 31 ft over dirt, broken concrete, and discarded timber/refuse until you  get to the 1.5' by 1.5' space they hammered out of the stacked rock for access to the next crawl space. Once you squeeze your 38 year old (and now slightly heftier bulk, get off my back I like craft beer and wine) through that hole you can then point the aforementioned fireplace at the P trap while you begin to heat tape the frozen toilet water supply line because "bro, toilet won't flush yo....". My Fluke temperature gun says the ambient temp is about 20 to 30F which isn't bad considering outside is -25F without windchill.... paaartae

@Charisse Ryan; Minneapolis chiming in here (-52 wind chill)

Step by step tutorial on how to deal with -34 ambient temperatures

1. Panic about your 119 year old duplex when the main floor renter texts "hey... the hot water line doesn't work, am i supposed to not use that bro?"

2. Panic again, visualize the split copper pipes and 33 degree water raining into the crawl space

3. Get in there and fix some frozen pipes, start with a hair dryer and graduate to a space heater, or (like I did) take your wife's favorite 'fancy' electric fireplace and drag it into the crawl space dirt to thaw the main floor P trap under their tub because you have no options and nothing is draining

4. Over do it and start wiring in unnecessary hardware like baseboard heaters (panic subsiding... slowly)

5. Feel free to lay awake at night listening for bursting pipes and not sleeping, either way, get in there and save your investment by any means necessary. 

6. Real estate is passive money