All Forum Posts by: Mitchell Gunlock

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Mitchell Gunlock has started 3 posts and replied 15 times.

What do you all think about buying undeveloped land and setting up ADUs to rent out? I'd only look at land that's at least connected to water and power and already has a septic plan in place.

0 Votes

Quote from @Matthew Crivelli:

Quote from @Mitchell Gunlock:

Quote from @Matthew Crivelli:

Quote from @Shaylynn O'Leary:

I am currently looking at my first investment property. The property needs to be rehabbed. Initially we thought we would flip, but now we're thinking of holding and using the equity for future investments. What formula or criteria do you use to decide whether to flip or to hold? I'm interested in hearing different perspectives. Thank you.

@shay The biggest question - can the property cashflow after paying for the costs of holding the property? If you cant turn a decent profit on a monthly basis, it's not a great long term play and you should sell the property.

@Shaylynn O'Learyundefined

how much is "decent profit"? $1k?

Cash on cash return. It depends on the property value / how much money you have invested. If you have 100k invested in a property but you're only cash flowing $200 a month, it might make more sense to sell and reinvest into another property or simply put the 100k in a high yield saving account at this point in time.

Fantastic response—thanks a lot!

0 Votes

Also interested.

0 Votes

Vancouver, Washington

Hey everyone! First-time poster here. Just wanted to say hi and let you know I’m looking forward to learning from all your helpful advice!

2 Votes

Portland, Oregon

Quote from @Matthew Crivelli:

Quote from @Shaylynn O'Leary:

I am currently looking at my first investment property. The property needs to be rehabbed. Initially we thought we would flip, but now we're thinking of holding and using the equity for future investments. What formula or criteria do you use to decide whether to flip or to hold? I'm interested in hearing different perspectives. Thank you.

@shay The biggest question - can the property cashflow after paying for the costs of holding the property? If you cant turn a decent profit on a monthly basis, it's not a great long term play and you should sell the property.

@Shaylynn O'Learyundefined

how much is "decent profit"? $1k?

0 Votes