All Forum Posts by: Rob Lee

@Joseph Cacciapaglia

Yea that does sound ridiculous how lacks they were last time! By the way you sound like an expert to me! 😆

@Joseph Cacciapaglia Great explanation Joseph! That makes me feel a lot better! Did you hear that rates are rising right now? What's up with that? Too much demand?

@Nathan Gesner Good idea Nathan! Thanks!

@Cameron Tope I hear ya man. I think he's in a decent position in with his cash and credit. I told him that a guy like him will be fine. I worry about others waaaay more!

@Brian Boyd yea I suggested that. I think he's looking into it now. Thanks!

Hey @Jim K. That's what they said in 2008 ha!

Hey guys! So My buddy and I were talking yesterday about the corona drama and our rentals. We were talking worst case scenario. He was telling me that he doesn't make much from his 3 rental properties (3 SFH) and that he needed more cashflow. He asked me how would I create more. Uhhhh

Anyway, he said that if I remember in 2008-2010ish the banks stopped lending so if he needs to borrow something the time is now!

I told him that I would drop it into the community and see if anyone had ideas. Here is the situation:

He has a wife and a one year old

Sales job 100% commission, (car or RV sales or something. Really slow right now)

She doesn’t work

They have a paid off 200k home

3 single family houses about 200k each, 50% paid off each   (2 strong tenants work in the medical field)

$300 cashflow each house per month after all is paid

How would you create more cash in these uncertain times before it gets too bad?

This may help out other people too! Open to all suggestions.

@Victoria Coleman Just personal preference since we have so many newer places in my area, and issues with older places.

@Victoria Coleman We are done with class C, so class B or better! Way too hard to collect rent at times. Near good schools, no foundation issues and as close as possible to the 1% rule. Oh, and build in 1995 or later! 

Hi @Julian 

I want you to succeed so I’m going to give it to you straight. My son just graduated college last year and he was in college at Texas State and had a part-time job. He was maxed out! He is an extremely bright kid but we saw his straight A’s slipping once he started his part-time job. (which we didn’t think he needed btw) He eventually pulled it together.

I think you should go to college and be a realtor part-time ONLY if this is possible. If it is not, go to college and work part-time if you need money. Become a realtor as soon as you free some time and are able to do it part-time comfortably.

Keep in mind also you will still have to pay fees monthly such as monthly dues to your broker, quarterly to the county, MLS fees, etc. Approx $250 a month in total. You will still learn the business earlier than most and when you become a multimillion-dollar realtor early, and all of this college and working regular job stuff will be a thing of the past!

Btw, you DON’T have to be a realtor to be an investor. My oldest kid is now working and following in my footsteps but without being a realtor. He is making great money and is buying his first house hack soon and will continue to use his income to buy more to build his mini-empire of real estate for cash flow to become financially independent and quit by the time he is 40 he says!  Good Luck!

@Julian Montesundefined