All Forum Posts by: Perry Ivy

Greg Kimura thanks for sharing your story, I believe it shows us the "other" side of real estate investing and provides a balance to the abundant fall into success stories. Cheers!

Eric P. My first question to you would be, who empties the trash can when its full? In a past life I owned a retail store and had a partner. Being young and inexperienced I didn't draw up a partnership agreement and we didn't assign roles. For the first few months we were passionate and if something needed done, we did it. However as time passed the little things started becoming a big problem. I felt like he wasn't doing his job, or pulling his part of the load and I assume he felt the same towards me. This worsened until it caused me to chose to end the partnership. We were highly successful, had a solid business, but that was ruined by a lack of clear roles. Everything should be discussed, written down and signed. Everything includes taking out the trash:) What happens in the case of death, divorce,disinterest? I have had many partnerships and personally wouldn't do another one. You can do it alone and if you need their help you can hire them.

Bill S. Thanks for sharing. Your story is probably more common than its told, people tend to glamorize real estate, but it's a tough business. I hear and see people talk about all these amazing deals, how much money they've made and how awesome long distance inserting is. I've been in this game long enough to realize most of that is false information. I appreciate your honesty, you probably just saved some people from losing everything.

Thanks again for the comments Jassem A. I appreciate the info.

Thanks for the comments and I apologize for not responding, but I access this through my iPhone and it doesn't notify me when there's activity. To be clearer, no I'm not licensed, I'm also not trying to do anything illegal. I do have a licensed hvac guy that does my work, but since he's an independent he doesn't have a cost effective access to new systems. The property that I'm working on has a package unit and my thoughts were to buy one on eBay for $2100 and have my guy install it. I know I probably came across wrong, however I'm trying to save a few bucks. Thanks again :)

Ken Badziak I use my calendar for payment reminder and the I use the debtpayoff app to keep up with balances, interest, plus it has a debt payoff plan that I love.,

Joseph Jones it's good to see someone else from Jonesboro on here. Everyone has already mentioned most of the sources that I use, however the two I didn't see was your realtor and the Jonesboro housing authority(HUD). Sometimes you have to do a little guesswork and then adjust your price based on response. Good luck!

Andrew Syrios thank you sir, do you have a place to get a good deal on a new one?

I buy bank repos and most of them need an outside unit at minimum. I was wondering where other investors find good deals on units. I have purchased most of mine used, but when I start doing flips I'll need new units. Thanks

Good luck with that one :) I have never paid myself, but I have personally paid my business for years. Fortunately I can afford to do that. Maybe I should buy the book that was mentioned ha