All Forum Posts by: Ken George

@Anthony Angotti from a rental standpoint it doesn’t make much sense. Factor a 1% rule a $200k house needs $2,000 monthly rent. The typical rents don’t afford that in town. We have a lot of success outside of town where we get close to 2.5% in c+ and b areas. Not saying it’s a bad investment but I like a little more meat on the bone, and outside of downtown those deals can be had. 

Now flips are the way to go with a rising market. That doesn’t fit my strategy but for many it does. 

The only issue is where does it stop? Pittsburgh was known for its areas of separation. Now that it's expanding so fast will there be a crash when it's not affordable anymore? I believe that will happen eventually especially with so many investors and REIT's entering the market. Prices are so high they are unaffordable and the rentals are going to be pure speculation soon. I think we will see a boom on the outskirts of town in the next few years since downtown will be too expensive.

Pittsburgh is very interesting city. Come to ACRE www.ACREpgh.org when we open back up. It is priced by the street in some locations. We do well in the outskirts of the city. But the city is getting very expensive quickly so be on the look out. Hedge funds just got here and are buying everything up so deals are far and few between. 

I am looking to BRRRR a few properties to keep recycling our private lenders funds. I know I heard on a podcast the Brandon had a Loan Request Packet or a checklist to submit with his lending requests to a bank. Now I can't find the podcast or the download that was available. Is there one in the pro section or am I losing my mind?

@Steve K. Yes, I have ADHD and on medication for it. @Anthony Angotti I did just get a nice journal to keep records of everything. It helped in the past but I got out of it lately. @Sam Craven I agree with you on getting a coach. Actually I lucked out there. I meet once a week for the past three weeks with two investors that own almost 200 units between both of them. They are helping me, I will look for someone to keep me accountable. Unfortunately the psychologists that I meet with are just pill pushers and I hate it. Not one of the doctors I have seen had time to actually review my daily routines. They just see my past history and medical records and just say here, take this. Now it does help but it doesn't fix everything. @Nathan Wankel I failed by being stupid! I blew the money I made. I grew up dirt poor. So when I was making a few grand a month I spent it. I bought new cars, nicer things, bigger tv's, hot tub, pool, you know that fun stuff that we never use. We sold the big house we had renovated a house on two acres where we live now. So we even live in one of our flips. I know I can make the money and do the work, thats no problem. I just need to keep my hands out of the cookie jar. @Matthew Paul I am doing electrical work to help family and friends which keeps me busy when nothing else is going on.

Thanks for the replies! ADHD is something I wouldn't wish on my worst enemy, and it has ruined my mind a few times. The team I am getting together should be everything I need to stay focused.

Once I got the info out of my head and looked through this posts again I can say why I am so crazy. Too much success has blessed me. I have always been great at every career I had, I always advanced quickly and I was a leader that co-workers looked up to. What would it look like if everything you ever did was a success? You would do everything you can, right? After looking back this is my issue.

But my ADHD makes it hard to communicate with me. I can be one track minded or all over the place. The end result is alway a good outcome but it's not the first interaction. I need time to see everything from all angles and take input from everyone before I see the best results. I use the teams I work with to get to the root problem and solve it by using everyones ideas uniquely.  

I can't focus on one project at a time, I need multiple things going on. For example, I look at things like planning the drywall and setting up the electrical to make both projects go faster. Where to place the boxes so hanging sheets of drywall easier. I don't look for the lazy way out but how to make things more efficient. 

The flip was hard work which I don't mind. I listen to the podcasts which is where I was making the comparison between my investing and that of the big guys. They get to the point of not working so hard in the business but on the business. I was trying to rush things and that is not a good idea.

Thanks for reaching out to me. I really feel like you folks care and are honest. Everything you said is exactly what I needed to hear.

I am just south of Pittsburgh in Washington County. It is a decent area but watch out in Pittsburgh, some roads can be slums and the next road is for royalty. If you get any deals in Washington County please let me know, I am buying up rentals and doing flips. 

Thanks for the replies! I picked up my spirts thanks to you. I attended a local real estate meeting Tuesday and I took my friends. It ended with my friends wanting to partner up, one with the funding and the other with the management and I will be doing the buying and renovations. Just a slight change in attitude was all it took to start fresh with endless possibilities!

Now to find some deals south of Pittsburgh, PA! 

I started investing at 26. I bought a new house and did a rent to own wIth the old house. I was hooked. I built a business to 29 units and then got out of it so I could focus on my job. I have ADHD so a job was better for me. I bought bad houses in bad areas and broke even. I left the job two years ago and have been lucky enough to make money with my side gig a mlm company. I flipped two houses recently and made some decent cash to pay everything off that I own. I don’t make much money wIth the mlm AMSOIL business but I don’t need much. I have been thinking of trying rentals again but I’m scared to screw up. The flips did well but they were hard work. I did just about everything myself since I’m an electrician I have skills to do most tasks. So what do you do after failure? If you wanted cash flow would you go for rentals? How do you look back at feeling of failure and keep going? I’m just south of Pittsburgh Pennsylvania in a warm market.