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24 December 2024 | 9 replies
It's good practice in making the calculations needed to decide whether or not to pull the trigger on a potential deal.You soon learn that starting off as a Doctor is less advantageous than starting off as a Janitor, because the game presets your income and expenses based on the job title.
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24 December 2024 | 13 replies
I just get complacent with a nice streaming cash flow for years.
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21 December 2024 | 7 replies
I don’t know your living situation or if there are any nice 2-4 unit buildings in the area you’re moving to.
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16 December 2024 | 35 replies
I've heard at least some of this before, but I'm paranoid and don't necessarily take the best notes of what I bought etc, so the physical receipt is a nice tangible record if I ever need to justify an expense.
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21 December 2024 | 1 reply
I also reccomend lining up a contractro early, realy early, from what I’ve heard, so you can keep everything on schedule and budget.So now that you’ve tackled what most investors would call a major job, do you see yourself repeating a similar strategy.. or do you feel like branching out into something else?
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19 December 2024 | 8 replies
It can be done, but don't assume "they will cash flow nicely".
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20 December 2024 | 1 reply
Sometimes pulling out equity and reinvesting it elsewhere..maybe in a smaller, more agile asset..can give you the cash flow boost you’re after without giving up a solid property.Improving the property’s current performance by making it more appealing to tenants or tweaking lease structures could give you a nice bump.
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21 December 2024 | 10 replies
Quote from @Tom Gimer: @Jay Hinrichs We essentially have an in-house abstractor (Salt Abstracts — MD; M&M — DC), so when I REALLY need it I can have title in ~1 hour.I try not to be that demanding often but it’s a nice resource to have access to. not everybody has an abstractor on Speed dial LOL..
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20 December 2024 | 3 replies
In the Parlor floor we added a large-ish kitchen with electric oven and cooktop that goes to the sub-panel that belongs to the Parlor floor, making it a nice 800ft 1 bedroom apt, with access to a shared backyard.