All Forum Posts by: Michael Lucero

the 6% is the ~60K you said you would net if you owned the property outright. I'm talking about the go-forward, not what you've received in the past.

Hey congrats on what you acheived but i feel like the conversation should be around the kind of return you are getting. If the mortgage was gone at best you would be getting is around 6%, which is not very good, especially if you consider any time you spend working on the properties.

Maybe im mistaken but If you get title insurance, arent you in the clear?

The strategy that results in the highest roi will simply depend on the specifics of the deal(s). There may be an instance where you need to pay all cash for a property and get a 25% roi or the best may be to leverage rhat 200k into 1m of purchasing power through debt and purchase multifamily places. There is no one size fits all thing to do. Thats awesome you got the 200k at 1% must be a very nice person.

Typically though, leveraging(getting a losn and buying multiple properties) will be the best roi.

No need to hire an employee at all, that comes with headaches and additional costs (taxes) that you just dont need. Btw i love mammoth!

One thing you have to remember is that even if you are at the top of a cycle, the market doesnt have to crash like 10 years ago, rather it can dip a little to meet market demand. 10 years ago was horrible because the entire financial and employment markets crashed, so no one had the ability or willingness to purchase, which based on simple economics, causes the prices to fall off the cliff. However now, the stock market and job market/unemployment are doing great, so i dont forsee a massive drop off anytime soon unless interest rates jump significantly higher.

Just tell them you are raising rents to market rate (if thats true) and what the new rate is. They will either pay it or move out. Why would u pay for the carpet if they were willing to. Are you trying to raise the rents like say "ok becuz im paying for carpet rent is going to be X forever" or something. You seem to be making this way more complicated and emotional than it needs to be.

Breaking the law, probably not, take a look at the landlord laws in your area or pay a lawyer for some time. Landlord may be breaking the contract terms, go read it.

Great response from @Mike Cumbie, you can choose what form of value u are ok with receiving, but each may come with its own risk and reward. If i were to accept bitcoin i would put a massive spread on the value of receiced coin to hedge against volatility. i own bitcoin but havemt tried to sell any yet so i dont knoe how liquid it is, but depending in liquidity, id tell the renter each btc is 1800-2300 (market -2750). At the end of the day the person can just sell their btc and pay cash if they care that much.

Post is hard to follow but either tell her you want to part ways or just start working with someone else. there isnt an exclusivity agreement or anything for a period of time right?