All Forum Posts by: Tim Hall

@Patrick Eldridge

Hey there congrats on your success. Here’s a couple of questions for you. Do you self manage or do you have a property manager in place? We’ve got about the same amount of units as you. If you don’t mind me asking how much do you net? It took me and my wife about 9 years to get to around 40 units, we’ve been flipping houses as well as rentals, using the profits to pay for the down payments and rehabs. Are all your loans fixed rates? We’ve been really good at the buying, rehabbing side and have a good relationship with our bank but most of our loans are 5-1 10-1 which has pushed us to pay off or refi out.

@Chris Webb yep, what’s up?

@Keoni Manago firstly who is telling you you need a new HVAC? Let me guess it’s a HVAC contractor. Also who is it telling you that a clogged toilet is needing thousands of dollars worth of new drains. It’s one of them high $$ plumbers right. This is the biggest problem with out of town/state investments. You are beholden to people who you don’t know and who don’t know or care about you. In my experience I’ve had plumbers tell me that it will take 20k to fix my drains and it took $2k I’ve also had HVAC guys who don’t fix problems they just change out the machine. Why make $4-600 when you can make $4-6000. You need a trusted team that includes your realtor. Have you worked with them before? Do they know what a working HVAC looks and sounds like? Did they flush the toilet and it went down? Apart from getting a camera and inspecting the drains there’s no way to tell. Did you pay for that? Did you get an inspection by a proper licensed inspector? Why didn’t they catch it? The realtor is the last line of defense, and to be frank this is why people shouldn’t buy site unseen unless you factor in all the utilities as broken needing replaced. Get some more quotes, opinions and stop worrying about who to blame. It’ll cost more in legal fees than it’s worth

@Tony Clark Hi Tony me and my wife run a real estate company in Tallahassee. Would love to see how we can be mutually beneficial together.

@Roseline Pierre Hi there, there are plenty of strategy’s that don’t involve selling your house or putting your personal assets on the line. Real estate consists of lots of ways to make money, rentals by the room is just one of them. That’s how me and my wife first started, house hacking, letting other people pay down our mortgage so it frees up cash to do it again. My main strategy is to try and buy something with the least amount of money out of my pocket. It could be seller financing, subject to, creative financing and on and on. Not just the the run of the mill straight line 20% down route or the pay it with all cash, Dave Ramsey way. He didn’t do it that way either otherwise he’d still be saving up now. The more investing knowledge you have the better equipped you’ll be to make all the money. Finding money is just one ball, finding a great deal is another and then figuring out how to do it again is another. You’re training to become a nurse because you want to be the best you can. Train to become a savvy investor and you can become very wealthy. You’ve come to the right place.

@Molly Fusco yeeeseeeeeeeesssssss I’ll be there!!!

@Naphese G. Here’s the thing if you’re buying off the mls you either get a realtor who’s on your team or you roll the dice with the listing agent. Either way you’re not paying for it, seller pays for it(at least in Florida) So if I were in your shoes I would find a good realtor who will get you the best deal just my 2 cents.

@Joseph Matsushima we just bought a 9 unit in Tallahassee, fixed it up and it chugs out cash like a steam engine. We also bought a motorlodge/motel in panacea Fl that fires out cash like a cannon….BOOM!

@Desmond Pressey hey man sorry you’re going through this. I think there is an alternative solution such as abandoning the old pipe putting a grinder pump in there and pushing the s%%t up the hill. The pipe is smaller so it would cost less to install and you can do it anywhere. Something to think about.

@Laura Suarez hi we do str in Tallahassee. Always love a chat about some real estate. Also there is a small group of investors that meet up at World of Beer on Apalachee Parkway. This month December it’s on the 14th at 6pm feel

Free to contact me