Don't get me started on the national debt and the amount we pay in interest each year.

I plan to move down to Miami to be closer to more investors and a better quality of living.

My worry is that since he has built a 16 year track record of always paying his pref and returning capital on time, that he is now overleveraging.Does anyone share this concern?

Even a single error could cost you more than years of property management fees.Understanding Tenant BehaviorProperties don’t pay rent—tenants do.

@Frankie Lotrec if you have an existing loan on the property and you plan to legally convert from a 4 unit to 5 unit , you should check the loan documents because you’d essentially be converting it to a commercial property, since 5+ units is considered commercial and subject to different appraisal approaches and so it would rule out the property being considered for purchasers utilizing residential financing.  

If we were not able to raise the price of our homes by 20% or more we would had to stop.. my LORI plan started at 600k sold two of them and made our normal 100k net.. last loris I sold 36 months later went for 850 to 900k and we made right at 250k NET on those ones.. so it was very specific to plans that CASH buying empty nesters wanted ..

Dennis' dad and I actually tripped over something similar back in Chandler.. we learned to tap into city planning websites and even call the permit offices directly to get a real sense of their backlogs.

To do this legally, I know plans need to be drawn and submitted to the Planning Board.

So the turnkey company has made 50k on their flip without needing to pay realtor fees of 6%.

It is not uncommon - main reason we see right now is over inflated original ARVs and now borrowers cannot sell and pay off the lender.