All Forum Posts by: Marcus Johnson

So I was showing a unit where I posted no pets.   A prospective tenant came by knowing this and after she asked about whether or not I will accept pets, I said no.  She then proceeded to tell me, "Well, all i have to do is go and get a doctors note and a document I can download from the internet and then you will have to accept me".  Wow, the gull of some people, how stupid is the process of an emotional support animal.  So one minute your fine, but the next you need an emotional support dog, so that you can rent a unit.  

@Jennifer Pauyo

You should probably listen to the podcast because there are incredible women in vesting in real estate. 

@Joseph Barnes

So I was a highly successful five star Airbnb four times over host. I would only enter into this if the MathWorks, meaning are you there you live close to the property or you hire somebody that does everything from septic tank‘s, to lakefront property water issues to dock issues too everything other than cleaning. Because believe me it’s not just cleaning the unit it’s so many other things that people over looking are clueless about. If you are close within 20 minutes you can make a killing in certain areas as long as they’re away from large cities and have multiple states interested in your lakefront property. I got tired of driving an hour every time to do turnovers, but If I decided to live in that lake community I could’ve on five properties and made a killing.  

@Phil Wells

We know New York is a disease infested, dense, polluted, expensive and terrible place to live. Minneapolis when given the chance is full of people who want to trash businesses, loot, riot, block interstates and hate the police. I have a duplex in South Minneapolis and the only reason I stay there is my tenants are good, the cash flow is good.

@Cody Smith

What I have found through my experience, is that when you pay off debt you have more disposable income. This allows me to sleep better at night and I can save up money faster. I bought a duplex in 2014 had a very reasonable price and now it's worth almost 60% more than what I paid for it cash flows about 500 a month And is on a 15 year mortgage. I bought a Lakehome two years ago and did an Airbnb business through it and was very successful but got tired of the work so I just recently sold it and made a profit.  The pandemic has been very eye-opening because it seems like every 10 years there's a major event and high unemployment, so in my mind I want to start paying down my duplex mortgage and hopefully have it paid off in a couple of years. My cash flow will jump to almost 1500 to 2000 a month. So I'm planning in 3 to 5 years I will have a significant down payment for another duplex or multiplex. And then I will repeat the process of paying that one off and increasing my cash flow extensively.  My goal is to achieve somewhere between eight to $10,000 cash flow monthly on only three duplexes within 10 years. I believe that along with my pension my Roth IRA's and the monthly cash flow‘s I'll be doing quite well. And can hopefully retire from my W-2 job By the time I'm 60.  

@Paul Oscar

Yeah I guess if you’re stuck on that one deal then that wouldn’t be enough money. But I know plenty of duplexes in the Minneapolis area that I could put a down payment of 50 grand on.

@Paul Oscar

I just have a question about what you just said. So you say you paid off the mortgage, are you saying your monthly cash flow then wasn’t very high? Because if your monthly cash flow is say $2000, in a year you would have 24 grand. In two years you would have 48 grand. Is 48 grand not enough to put as a down payment?

@Tony Gaultney

Probably not a great plan, because here in Minneapolis on lake street, a lot of the businesses have been burned down due to the violent riots and even apartment complexes have been destroyed leaving people homeless. There are some locals that would rather destroy their own communities, then want it to prosper.

@Brook Vosler

Simple answer get $1 million life insurance term policy when you’re done. No big deal. Very cheap if you’re healthy.  

@Tony Merchan

The govt doesn’t care about you. The weakest always come first. Have reserves and plan to evict ASAP when possible. If it were me I would warn the tenant that’s what you’re gonna do.