27 February 2024 | 6 replies
You can tell your AI tool to make the copy more emotionally compelling and you should perform much better as a listing. 4.
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27 February 2024 | 11 replies
The best way to explaining this is for you to download an IRR calculator spreadsheet or build your own simple one and play around with one.For what its worth most deals I deem meeting minimal IRR standards is 13-15% but you have to dig a little deeper to uncover the real placements of cashflows and capitalization events... and then dig even deeper to verify the assumptions such as occupancy, rent increases per year, and what reversion cap rate was used.Again I don't look for IRR cause its manipulated a lot instead I look at total return on a 5 year basis.
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27 February 2024 | 10 replies
I would be happy to look deeper into your scenario as well.
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27 February 2024 | 2 replies
Additionally, negotiating with buyers directly demands a level of expertise and emotional detachment that might be difficult for homeowners with strong connections to their property.
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28 February 2024 | 43 replies
When you run numbers through a model you realize that even with potentially higher rates, you'll refi a lower principal against higher rents and higher property value, so it is mostly an emotional conern rather than a financial issue.
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26 February 2024 | 29 replies
Add $800 for paint, floor covering and essentials plus my laborer for 2 days and my total cost was about $1400.I painted the 30 1200 to 2700 sq ft homes in Las Vegas with two helpers including ceilings and it never took more than two days to paint a house and that included removing all the electric wall plates, dropping ceiling light fixtures, removing smoke detectors, cleaning windows, installing new blinds, cleaning bathroom fixtures and it never took the 3 of us more than 2 days because I am good at knowing how to get the most from my workers like a Lakers coach knows which players to put on the court because the cost to do a paint job is not as critical as the time it takes because when I go to Las Vegas to manage a job I have to leave Los Angeles and my 20+ employees without my micro-management and "When The Cat Is Away The Mouse Will Play" if you know what I mean.I am a very difficult person to work for because I am 71-years old, a workaholic, a fast worker and when young workers are slow I fire them within minutes when they are working because I don't like to have to waste my time and stop the work I am doing to constantly check on my workers and I don't like to get emotional and have to keep correcting workers when they work sloppy and slow.
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26 February 2024 | 40 replies
It is easier if you can back away from the emotion in these situations.
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25 February 2024 | 1 reply
Because I was willing to walk away from the deal and had no emotional attachment to the house, I went back and forth on the price settling at 10% below their lowered price which was a total of 15% below the original asking price of $1,099,000.
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25 February 2024 | 7 replies
amazing how emotion can railroad logic.
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25 February 2024 | 22 replies
Same with real estate - those that panic sold Spring 2020 would also now regret that decision.Having illiquid investments prevents investors from making emotional (short term knee jerk) decisions.The one property v multiple property issue cuts both ways.