All Forum Posts by: Michael Ablan

@David Walker - Tapping into your equity will be the fastest way to get back into the game.   Whether or not thats a smart move for you is a question I can't answer though.

I've always been a massive action type of guy though.   I'd be tapping into every fund source I have and looking for off-market value add deals

@Vincent J Brunori - They could sell it to you for less money, but then hold a second private unsecured note for a consulting retainer while you take over the property for the next two years

They could could it to you for less money and be a silent partner in the deal w/ a buyout after x amount of years

@Dustin Stubbs - The only way that I'm aware of is to buy property in a solo 401k (self directed) tax vehicle.   You can build a portfolio with the deferred profits generated by deals done within that structure.

You could purchase with the self directed IRA and then rent the space to your construction business. It'd be an expense for the construction business, and could grow tax deferred in the 401k (which can be used to buy more real estate).

**I'm not a financial advisor or an accountant.  Just an investor who listens to too many podcasts**

@Brittany Stradling -  Partnerships, owner-financing deals, Multi-family, High Cash flow areas of the country

I have one 24 unit that cash flows 10k/month on its own.  It changed the way I've been spending my time

@Laura MacDonald - Add an additional partner whose financeable or get private money (or get a hybrid of the two)

@Steve Gibbs - How quickly can you accumulate that cash again?

I'd pull from the equity if I'm cash poor for the foreseeable future

@Account Closed -  Everyone wants what you're looking for.   

How can you make yourself stand out?  Or at the very least, how can you build relationships so that your name is in the hat when a deal comes up?

Joint Ventures with experienced people is likely your fastest way into the door

@Jacob Eikenberry -  It's always going to be market and contractor specific.

We replace it all the time.   There's a few ways to do it

1.) Abandon it in the walls and fish all new wire through the basement/attic

2.) Cut strips along all the walls and remove/replace with new wire

3.) Leave it in the walls and just update everything in the basement/attic.  Then protect the lines with arc fault breakers and/or GFCI outlets

There's technically nothing wrong with knob and tube wiring (that's in good shape).  The main issue is it isn't grounded. 

**Disclaimer**  I'm not a licensed electrician.   I'm just a guy who buys, sells and flips tons of old 100 year old houses

@Jon Stephens - Make a reputable one a partner in the deal.   Start building connections and rapport that way.  It'll pay off huge in the long run if you choose the right guy

@Jeff Cua - We use appfolio online rent payment

We also allow our tenants to directly deposit into the bank if they prefer to do that

They can also mail the check directly to the bank if you give them the info they need