All Forum Posts by: Jeff G.

A line of credit in my case allows me to make "cash" purchases and the ability to close in 10-12 days.  Then I refinance with my bank into a commercial loan.  Many people will not accept an offer where I invest unless it is cash.

Hope this helps.

Great idea, so when someone gets shot, injured or killed you get sued for preventing a person their constitutional right to protect themselves.

I have a similar situation:

I have a duplex with tenants I inherited.  Though I have owned the property for 2 years one tenant has been there for 9 years the other 7.  I haven't raised rents yet but plan to do so this lease renewal in June.  The rents are about $500 each where market is $550-600.

My plan is to increase each unit by $25 to edge them up while not increasing to the point that will drive them out.

I may increase an additional $25 in a year or two if neither tenant moves out.  This property cash flows about 8K/year with current rents so it still performs well.  I just don't want to be in the business of owning property with very low rents. So maintaining the balance of rents to market will be a struggle with this particular property so long as these tenants are still there.  The cost of raising rents and having them move out if far larger than keeping them there in my estimation because I will have to update both units to some extent.

If it meets my minimum cash flow requirement that's all I care about.

My investor buddies think I am crazy to buy at market.  But they all buy junk and fix them up.  That's not my gig.  I like my houses to be as close to move in condition as possible.  

My tenants take care of this themselves.  Its right in the lease with the penalty if not done in a timely manner.

Its a crazy ride.  I have had ups and downs in my short investment career but I am all hands on deck and full speed ahead.  Don't get discouraged, trust your gut and you will be fine.

you need REIGUARD, reiguard.com

specialize in flip insurance.  

I am using them for my flip now super easy, pay by credit card and no complaints by me.  as @Jason Bott about them, he will hook you up!

Congrats... I look forward to hearing your BP podcast... its only a matter of time.

$850 for a 1000 sq ft single family I paid $31,000 for in move in condition.  

My current reno project will be all in at 35K (total gut job) and rent for $1000-1100

$1000 is nothing in the grand scheme of things!

That's one broken appliance for a rental in many cases.. put it in perspective