All Forum Posts by: Ryan Dunn

Sounds great that your not paying and its kept up. But yes if something happens who pays? Maybe see if you can find them and see if they are insured to cover any problems that might come up. 

I have a Portfolio in the Troy, Sidney, Piqua Ohio area. Its a total of 7 SFH one is a tri plex and one is a duplex. So a total of 10 doors. They are all long term rentals with property management set up. Total value is around $1 million and rents are also around the 1% rule.

What is the best way to market or sell them? 

One at a time would be a long time and a ton of 1031s. So the hope would be to sell to one group the full portfolio.

Open to all ideas or input. Thanks 

You have a great thing going for you. I would look more at the build out of the short term play. By looking at the cost of each option. The pond and camping sounds cool. But it is all about the ROI. Maybe get the cost of each option or a good ballpark. Then add it here or start a new post so we could help with real world number and could give you more directions. But sounds like a few good starts

Listen to as much BP podcast as you can. All day long. Its a free college course. But after a few months you need to make a move. Go driving looking at whats out there.  Make sure you know where you can get the funds. That could be here when you find a good deal. 

Cash flow pays the bills, Appreciation gets you rich!

So i started out for cash flow and now working to the appreciation to get rich.

As you can, roll one cash flow into an appreciation play slowly. 

2 deal and just about ready to cash out! Great job! Now to keep you eye out (if you have not) for the next one!

Communication is key. They need to talk people into paying rent( haha) and then paying on time. But also working with them if there is a job loss or a roommate moves out. Or during the world shut down on how and when rent will be coming in.  

The challanges you ran into are super common. But worth it by not paying the taxes and just rolling them into the new property.  I have heard on a few podcasts people do over pay just to keep the money from taxes. But also look at your cost base on the property. Maybe you will owe less then you were thinking fromn all the capx on the property you are looking to sell?

Great Job. Love BP is always growing!

On long term rentals the property manager should cover the book keeping. So all you need to do is give it to your tax pro. I do pay 10% and it comes with my manager