All Forum Posts by: Aaron Hunt

@Bill O Brady I can top that, my properties are also in Vegas...7% PM fees all-day. Been that way since I started with them. My PM team is extremely selective though both of landlords and of renters. They hardly take on new owner clients and treat every property as if its theirs. They also seem to snag exceptional tenants.

Our stupid fireplace in one of our rentals was apparently broken. We had no idea if it worked or didn’t work cause we never used it. The repair bro comes out and deems it unsafe to use and says it’d be $2,500 to replace the gas fireplace. We told our tenants sorry, as-is, not a vital item...and this is a unit where rent is ~$1900/month. When this place goes vacant, I’m having it removed and sealed. I don’t got time for all that.

My PMs are bad@ss and take $15/month per tenant and purchase it on their behalf. I know cause I receive the policy with my name on it as additional insured.

Learn how to sell or learn how to fix. And besides that...FBGM.

One year ago today, I had to do the same thing. IDGAF. Tenant paid up in full with all late fees, and vacated with property in turnkey shape after her lease was done. Property is continued to be managed by a PM team.

Refi your husband. Tell him to quit being lame. All my contacts in RE world know my wife doesn’t give two sheets about this stuff...as long as her (hefty) online shopping bills get paid in full each month. So...all our transactions now, I get 2 Docusign emails and sign on her behalf as well. She doesn’t even know the address of or has seen the pictures of the investment property she just closed on 3 days ago and owns 50% of. When the mobile notary came over she signed everything at the speed of Flash Gordon and went back to her busy day. I filled out all the forms for her, put her SSN down and provided her license. (And she works in corporate finance!) We’re so busy running around after our toddler we don’t even have time to celebrate anymore.

Originally posted by @Account Closed:

Originally posted by @Aaron Hunt:

Perseverance and courage.

Translation: Don’t be a little b***h. No, really. Grow a pair (of male or female parts) and just do it.

All my friends are highly successful/relatively high income individuals or couples.

None have the courage to aggressively invest after having grown up through the most recent recession. Go after what you want in this life, no one will give it to you - including those on this forum.

So you think your successful high income friends dont have cajones? How do you think  they get to their success? Taking wild risks with insane leverage is not the only way to get what you want. Unfortunately thats the mindset that a lot of people here on BP promote. Not saying you are one of them but it feeds into it.

I know they don’t. They got their high incomes with education, just as I did.

You call it “wild risks” (your terms), just as my friends did/do, having gone through the recession and clearly having beens scarred by it - either emotionally or financially.

I call it cajones! I learned about real estate DURING the recession. I was interested by it and that led to me scouting out properties/short sales for my family and convincing them to buy.

That identification of opportunity secured my parents retirement, and then some, as we (due to dumb luck) bought multiple properties in the HQ2 Crystal City area between in 2010-2017.

Fast forward to my RE investment growth, the property I closed on yesterday was at 80% of appraisal, and a model match was just listed on the market for 130% of our final sale price (identical condition as ours). Now, we know that sale price won’t happen...cause of our deal having closed.

As a household this was considered our “wildest risk” to date, due to size of down payment, and the interest rate, but even this has a near 50% buffer.

Also, other than your mainstream funding, we self-fund our deals with our discretionary income. We don’t need the cash to live comfortably - what exactly is the wild risk in that? Higher income households have no excuse in my book.

I’m eager for the next recession. We’re gearing up on a miniscule level, just like all those PE & hedge funds that are holding $1.114 trillion to deploy.

Perseverance and courage. Translation: Don’t be a little b***h. No, really. Grow a pair (of male or female parts) and just do it. All my friends are highly successful/relatively high income individuals or couples. None have the courage to aggressively invest after having grown up through the most recent recession. Go after what you want in this life, no one will give it to you - including those on this forum.

What the fak I’m closing today and I have a 30 yr, 6.125% rate with 25% down, and a little over $3k in lender credits. If I wasn’t planning to accelerate payments and pay this thing off in like <5 yrs I’d be hella annoyed!

I’ve bought two Class A properties site unseen from 2,400 miles away. One with a new agent, essentially all over text message, until 3 days before closing when I landed in town. The other, with the same agent (gained my trust) 2.5 years later, but now I have an actual team in place. And landed in town 3 days before closing. No chance on Class C for me.