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3 December 2024 | 2 replies
If you’re okay with moderate negative cash flow as a "forced savings plan," that’s fine, but I’d advise setting clear boundaries on how much loss you’re comfortable with per year.
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2 December 2024 | 5 replies
Any suggestions for impactful investments or initiatives that could provide sustainable support would be deeply appreciated.Thank you for your wisdom and support during this challenging time.P.S.
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30 November 2024 | 0 replies
On Page 134, he lists the following when analyzing a deal:Sales Price: $132,490.00Sales Expenses: $17,000.00Loan Balance: $55,004.72Total Invested Capital: $35,950.00Profit: $24,535.28I agree with his thought process here when he calculates net profit, but I'm trying to verify the net profit by adding up all the sources of income over the past five years in his example by doing the following:Appreciation over five years=$12,490 (see chart on Page 133).Cash flow ($297.73x12x5)=$17,863.80 over five years.Loan paydown: ($60,000-55,004.72)=$4,995.28 over five years.Sales Expenses are still $17,000.Doing the math, profit= $12,490+$17,863.80+$4,995.28-$17,000=$18,349.08There is a $6,186.20 difference from the net profit he calculates.My question is: Is this $6,186.20 difference due to the forced appreciation gained in the property from the rehab he does in this example?
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3 December 2024 | 9 replies
Slowly moving projects when forced to by clients.I should have fired him 2 years ago but I was pot committed and didn't have the balls to start over with a new consultant.What I learned is that moving on quickly from an underperforming consultant is vital.
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29 November 2024 | 3 replies
., shifts in pricing, demand-supply changes).Analyze local or regional real estate data.Identify key economic indicators impacting the housing market.Stay ahead of demographic changes or migration trends.Do you have any go-to platforms, datasets, books, or even strategies that have been especially valuable?
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1 December 2024 | 2 replies
I don't understand how you can't track them down.You could stop paying HOA dues, and that will force them to contact you.As for the PM, I would instruct them to hold off on painting until the termite issue is resolved, which includes providing you with contact information of the HOA board.
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2 December 2024 | 1 reply
You'll need to look at adding hurricane impact windows and doors throughout the home, and bracing all the framing members of the house with hurricane straps.
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11 December 2024 | 101 replies
I don't think it's right to do that and especially not in a public forum so I was "forced" to set the record straight.Mind you, the irony of that discussion is that I suspect we aren't probably disagreeing on much.
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30 December 2024 | 819 replies
I purchased my second home in a much better neighborhood (neighboring houses all worth $100K+) with a better chance of appreciation, higher rent = better class of tenant, and room to add in forced appreciation if I build out a 3rd bedroom.I've learned A LOT this past year and a half.
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2 December 2024 | 2 replies
Of course, many investors bend/break this rule, but that's another risk.2) If your bid wins the foreclosure auction, you then have to deal with getting rid of any occupants - who may steal/damage everything they can in retaliation:(3) You MUST have a great crew on the ground that can minimize surprises - not easy to do on your first deal.Regardless if you buy a foreclosure or other property, read our copy & paste advice below:-----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?