All Forum Posts by: Ryan Rush

I have a great deal on a building with 8 apartments. Looking for 250,000 - 270,000 long term financing. 

I have a great deal on a building with 8 apartments. Looking for 250,000 - 270,000 long term financing. 

@Kelly DeWinter that is interesting but I still don’t know how to get them to work since they have a card slot on them. Maybe I just sell these and use normal ones but these are commercial.

I inherited about 8 laundry machines that have card readers (not credit cards - laundry mat cards) specifically for the laundromat they came out of. I want to convert them to coin machines and use them in my multi family. Is this possible and how do I do it?

@DeWayne Counce. I’ll just give you my experience since I was in the exact same situation. Not everyone is the same- I realize. I thought I would try to quickly make that money grow so I started in the flipping game. I quickly found out that it was frustrating- anxiety ridden- contractors taking advantage and ripping me off while doing terrible work- I can go on and on. I lost 40 grand on my first two flips. I’ve seen a lot of people lose money just getting started with flipping. I firmly believe that buy and hold is the way to go. Since my flip flop- I have bought and held quite a few homes and multiplexes and it has saved me.

My suggestion. Buy and hold until you have money to gamble with- then try the flipping world when you have money to lose. I believe that you can win flipping, but the risk is higher and there is trial and error until you get the right team.

@Robin Cox thank you

@Thomas S. I agree. I am new and learning one mistake at a time

@Nathan G. Very smart. I will definitely incorporate this from now on.

@Karl Harmon. Thanks. That makes me feel better. Exactly what you said is the reason I felt justified here.

Today I had a person who traveled from a long way away to move into a property I have. When he originally called me I explained to him that the property was very small- about 530 square feet of living area. He said not a problem. The house he lives in now is smaller. We went through the entire process - he signed the lease - sent the down payment. Today when he showed up he said it was too small and he couldn’t live there. I told him that was up to him but I explained I would keep the amount that was written in the lease for someone who leaves before the lease is over. He was very upset because he had never moved in or paid the rent. He said he was going to get a lawyer involved. I feel bad for them that they came 800 miles to move into a house that is too small, but I don’t feel it is my fault that he doesn’t understand square footage and I don’t feel I should have to pay for his mistake. I feel completely justified for keeping the money to help me through the process of getting someone different in now.

Am I in the wrong here?