All Forum Posts by: Robert Ruschak
Robert Ruschak has started 4 posts and replied 64 times.
Post: Own or Rent Paradox: Your home is not an investment
- Real Estate Broker
- Indiana
- Posts 65
- Votes 11
Originally posted by @Jay Helms:
@John Fulton - question for you. We sold our primary home last year and cashed out $115,000 in equity. That is after all closing costs were paid, including realtor fees. We purchased the home just 3 years before w/a minimum down payment and installed upgrades to the tune of approx $15k. Are you telling me I shouldn't have considered that primary home an asset or an investment? Because we now have the equity working for us, on our way to purchase 6 more units.
That is incredible equity appreciation✅
Post: The Cost of Owning a Duplex
- Real Estate Broker
- Indiana
- Posts 65
- Votes 11
Originally posted by @Jared Baker:
Thanks for the responses guys! After reading Scott's book, Set For Life, I'm trying to reduce my housing expense. Right now I am paying about $700 in rent and I would like to purchase a duplex and house hack. Would it make sense to look into other areas to invest when my goal is to reduce my housing expense?
You will need to look at different sub markets if you are looking for positive cash flow! The high end areas will have lower cap rate returns, whereas other areas will provide an investor a 7+ cap rate return! Good Luck on your search 🔦
Post: Overcoming the Idea That Paying Off Mortgages Is A Good Idea
- Real Estate Broker
- Indiana
- Posts 65
- Votes 11
It does not make sense to pay off the full mortgage on a rental property, because the (IRR) internal rate of return will decline. The magic of using good debt leverage & a conservative DSCR debt service coverage ratio!!!
Post: Self Storage
- Real Estate Broker
- Indiana
- Posts 65
- Votes 11
Originally posted by @Sam Green:
I've heard that investing in Self-Storage is a great idea. I agree! It seems like a great business. I was wondering if anyone has had any experience in this area?
Hello Sam,
Any “potential” real estate investment is a great idea! You must know your financial metrics and long-term goals!
Post: Coronavirus and late or no rent payments
- Real Estate Broker
- Indiana
- Posts 65
- Votes 11
Originally posted by @Arthur P.:
What is the plan when tenants can’t work and cannot make rent payments?
It has already started for me.
Write to your Congress and the Federal Government to pay for loss rent!!! Boeing is experiencing ( Death Spiral Financing), wasted billions on stock buybacks and begging the Government to be bailed out.
GOOD LUCK!!!!
Post: $1.3 million in deals done in 2 years from out of state!
- Real Estate Broker
- Indiana
- Posts 65
- Votes 11
Incredible!!
I am looking to writing an aspiring story about my success in real estate and to multiply with great partners!
Post: Here’s What Is Possible in 9 Years as a Real Estate Investor
- Real Estate Broker
- Indiana
- Posts 65
- Votes 11
Joe: Your life journey is incredible and unbelievably inspiring. I love the massive amount of information you presented on Biggerpockets, I will model after you and my ambitious goal is to become a Multi—millionaire investor!
Post: Why Do 97% Of Real Estate Investors FAIL?
- Real Estate Broker
- Indiana
- Posts 65
- Votes 11
Originally posted by @Joe Villeneuve:
Originally posted by @Don Mangiarelli:
@Sadrud-Din Williams real estate investing is like any other business. It takes time, patience and persistence to be successful. 97% of people get really excited when they start a business, but when they don't see immediate results, they quit. That's why only 3% succeed. If it was easy, everyone would be doing it and would be successful at it. Most people aren't willing to work hard to get results.
This just about covers it. Add this to the mix. Most of that 97% are followers...and they would rather follow the majority...even if the majority fails. To them, all that proves is it can't be done the way the majority tried.
This make no sense to me. The answer is staring them in the face...don't follow the majority if they failed. Why not follow the minority if they succeeded? What's more important to them...success, or being part of a majority.
I wonder what the success rate is for those that just go for it...with no training, and learn as they go? I also wonder what was used to measure success in both the original question, and mine?
“The answer is staring them in the face...don't follow the majority if they failed. Why not follow the minority if they succeeded? What's more important to them...success, or being part of a majority.”
I prefer to connect with highly successful individuals in real estate, figuring out how to maximize my results, separate myself from the majority and create “future” long-term business partnerships.
Post: Storage facility purchase
- Real Estate Broker
- Indiana
- Posts 65
- Votes 11
Thank you for the responses!
https://www.storedge.com/how-to-choose-the-best-gate-security-system-for-your-self-storage-property
Post: Storage facility purchase
- Real Estate Broker
- Indiana
- Posts 65
- Votes 11
Originally posted by @Joshua Watts:
For the self storage management software we use Web Self Storage. It is just so much cheaper than others. And for our rental property management software we use Appfolio.
Do you manage all three facilities or hired part-time manager/maintenance? Have you considered the blue-tooth electronic locks by Janus International?