Turnovers crush profits, so I keep these people in for cheap and they don’t bother me for much.

Just some food for thought for those who invest in mortgage notes and think buying seconds cheap gets you in the business at a low barrier to entry  - it is cheap until you have to reinstate or payoff a first lien.

I do not think that we are being “cheap” by any means.

So they'll sell it for cheap anyway (not full retail) and then pay the 6% on top of that.

Many of us rode that wave, using cheap financing to expand portfolios.

In order to harness as much of the effects that add to your net worth you want to buy as many assets as you can, and as much quality as you can afford.It is very tempting to go into cheap neighborhoods, but especially with the old housing stock we have in the Midwest capex will exceed cash flow over time and you are not building equity.Consider your first deal a proof of concept.

.- Take all the cheap prints off the walls. 

Our annual pass is stupid cheap for what we offer.I will say that while we do have a whole lot of sub2 investors that attend these groups, we don't put an emphasis on that strategy.

Cheap is expensive in the trades.  

How do you manage cost, unexpected surprises and keep the project on time. 10% to manage a rehab is actually pretty cheap, I suspect you have never done that yourself, otherwise you'd know how much work that is.