All Forum Posts by: Stephen Jones

@Josh Appelman

Great stuff man! Congrats again!

@Josh Appelman

Also, jumping rents nearly 500$ is a lot! Is this a decent area to where you were able to accomplish that?

@Josh Appelman

Awesome man! Good for you. If you don't mind me asking, where is this property located that you acquired?

@Ryan Mortimer

Yes. Would be selling the 8 unit for capital to exchange into the 43 unit. Great idea on the partner route, trust me, I've tried to go that way but my significant other is not on board, unfortunately. Therefore, this is a project I would have to get done myself. 

@Jack Mawer

Great idea. Thanks!

@Peter Nikic

Thanks for the feedback!

@Marshall Leipprandt

I didn't mention that in my post, but yes I do realize the new units will most likely cause me just as much of a headache if not more than the 8 unit. With that being said, I do have a great property manager and I think with his and my view we can get the property where it needs to be. It has just been completely mismanaged for the last 8 years when the current owner initially bought it. 

BP,

I need a little advice. I have an 8 unit property that I would say is in a B class location. I also own an 8 unit on the street behind it (It shares the same backyard). Therefore, in the future, If I ever did want to sell, I could sell all 16 units together. The one particular 8 unit that I am considering selling has also caused me issues, problems, money. 

With that being said, I have an opportunity to buy a 43 unit property that is in a C class area that needs quite a bit of exterior work, but it is a cash flow BEAST. What are your thoughts? I hate breaking up the 16 units, but it is hard to pass up on the cash flow this particular asset brings. Any feedback would be great! Thanks.

@Percy N.

They are located in both Illinois & Kentucky, the majority of the units are in Illinois. Yes, we are 100% owners of our business. 

@Paul De Luca

Thanks for the feedback man! I was kind of thinking the same thing. I have a 16 unit property that cash flows well, in a decent area, but causes me a ton of time, money, work. I might look into unloading that first if and when a nice piece of property pops up. Thanks again!