All Forum Posts by: Mike Dymski

It's uncertain what will happen with deportations but it is certain that the border will be materially closed down.  That will definitely increase blue collar wages in certain industries and decrease rental demand in certain submarkets over the course of years.

I like Seth Godin's (altMBA) approach where there are application, experience, and qualification requirements.  Life it too short to teach people that won't follow through...or to spend money learning stuff that you won't apply.

You don't have to compromise.  You can have wealth, health, and relationships.  17 waking hours a day is a lot of time.

He should just sell the house.

Separately, I would not rent to her.  She freeloaded off your dad and now wants to screw him over again.

@Jonathan Small government actions have led to an unprecedented 40% increase in the money supply, 50-year record inflation, record increase in interest rates, bank failures, credit tightening, CRE recession, housing affordability issues, mobility issues, inventory issues, and massive impacts to the world economies, every investment class, and our families, kids, and friends like never before. Government actions are THE cause of the dysfunction in the real estate market and why so few investors and homeowners are transacting.

The side moral to this story - be in the plumbing business.

Real estate is capital intensive; so, that makes it more difficult to scale (despite leverage).  For me, adding value is table stakes (and that helps with scalability).

Most of us had to be this ourselves (with a little help from our investor agents, where applicable).

It's like anything new, you just have to start and figure it out as you go.  Sounds like you need an agent and/or contractor based on your strategy.  Don't worry about whether an agent would find you properties less than $50k.  Just search and try to find ones that understand sourcing investment properties.  You may find that you are looking at the wrong properties...or that you are looking at the right ones...or you switch strategies.  Just start and find the answers along the way.  Same for contractors.  Post on local Facebook pages for contractor referrals, go to local REIAs, and ask your potential agents and PMs (even if not using a PM at first...you may at some point).

There is only so much that service providers can do and many of them are far from "experts"; so, be prepared to be your own expert at being willing to figure stuff out as you move forward.

Happy holidays.  Enjoy your posts.

Here's a deal of the day hack.  I bought an LG TV a few weeks ago, was on the LG site, asked a question on the chat, and they offered 20% off without even asking (on top of the sales price).