All Forum Posts by: Anthony Polcyn
Anthony Polcyn has started 10 posts and replied 41 times.
Post: What's holding you back in your real estate investing career?
- Investor
- Jackson, OH
- Posts 42
- Votes 20
Shiny object syndrome. Staying focused on one type of investment and getting the job done. I started reading "The One Thing" and I think it is helping!
Post: What's holding you back in your real estate investing career?
- Investor
- Jackson, OH
- Posts 42
- Votes 20
Originally posted by @Linval T.:
@Davey Wilde - This is a great post to get BP members to talk about what's stopping us from moving from neutral to taking action with our REI career and get in gear.
It depends on how badly you want it. The bottom line is that you have to sacrifice your time by giving up the things you love to do.
Example, watch less Netflix, TV or hanging out with friends regularly to drink and/or pass time aimlessly to name a few.
Use this time to learn, develop and expand REI career.
Vigorously pursue private money, hard money or conventional loans if practical. Fix credit issues if warranted. Pursue JV partnership if needed.
Spend a lot of time searching for deals online and offline. It will be worth the time and effort when one is found.
Yes, deals are hard to find, but, frankly they are not going to find you, if you are simply sitting and waiting for one to be handed to you!
REI is a career that should/must be treated as your current or former W-2.
Why? Because, it's a job in and of itself whether you Birddog, Wholesale, Buy & Hold or Fix & Flip.
So, my conclusion is that the only thing that's holding you back is YOU!
Very true!
Post: has anyone gone through fortunebuilders program?
- Investor
- Jackson, OH
- Posts 42
- Votes 20
I feel you can get the information you need from this site. Save your 25k and use that as a down payment or rehab funds on a fixer! Just my personal thoughts.
Post: Investing on crowd funding real estate platforms with Self-Directed IRA
- Investor
- Jackson, OH
- Posts 42
- Votes 20
Ishmeet,
I agree with some of the above comments. Meet some active investors and invest in rehabs. Your funds can be put in rehab deals with purchase and repairs under 70% of after market value. Unsure what rate you are looking for, but from my experience you can easily make above 10% backed by a first mortgage with significant equity to back the deal. I would pay 10+% all day long for private funds!
Post: Bed bugs and land contracts
- Investor
- Jackson, OH
- Posts 42
- Votes 20
Originally posted by @Matt Clark:
@Anthony Polcyn, your single family rental has bed bugs from the previous tenants... how do the neighbors figure into the equation? Or am I confused?
Are there some details missing?
They think the bed bugs migrated to their place. She has OCD and panic attacks.
Post: Bed bugs and land contracts
- Investor
- Jackson, OH
- Posts 42
- Votes 20
Roy
Land contract is a total separate piece of real estate--no bed bugs there!
I think the neighbors are ok for now. She is going to be a thorn in my side with future tenants, I am sure.
Post: Bed bugs and land contracts
- Investor
- Jackson, OH
- Posts 42
- Votes 20
Originally posted by @Roy N.:
We are talking about two separate - like by 10 - 30 ft (or more) - houses? Unless folks, or animals, were regularly visiting between the two houses or the were sharing blankets, the bedbugs are quite unlikely to make the migration from one house to the next. When you have a multi-unit building, or row houses, the bugs have no issues crawling under a wall, but I've not heard of them moving between SFHs on their own.
BTW: It would be inadvisable to enter into a land contract with bed bugs ... or even for bed bugs.
Post: Bed bugs and land contracts
- Investor
- Jackson, OH
- Posts 42
- Votes 20
Hi fellow investors. I am seeking advice about bed bugs. I have a SFR rental and my tenants moved out without notice and handed the neighbors the keys. They told them it has bedbugs (brought in by the tenants). The neighbors are going crazy and his wife has OCD and we are really having problems. After much research, many calls to Ohio Health Dept., my attorney, and many sites on bed bugs, I have offered to pay for treatment up to $800. I have no liability, but I am trying to keep the peace in the neighborhood and have an ally instead of a foe as a neighbor. I can get treated for $500, but they want their home heat treated. I offered to cover $800 out of potentially $1,200. Do you feel I have any obligation to assist and what would you do in a similar situation? Just trying to feel this out.
Also, I am purchasing a house and a mobile home on two side by side lots--no, this didn't discourage me from investing--and I am looking for a land contract in Ohio. Does anyone have a form that they use? I will run it through an attorney before I use it.
I appreciate any comments, suggestions, etc. Hope no one else is experiencing these type of headaches!
Post: Have 300k but do not know what to do with it
- Investor
- Jackson, OH
- Posts 42
- Votes 20
We are investing in flips. We buy, rehab, and sell in hot zip codes. Our last project took three months and our investor made 10% cash on cash. The annualized rate was 40%. I can help you get started if you like.
Post: Should I advertise a 4 BR rental townhouse as a 3 BR unit or a 4 BR unit?
- Investor
- Jackson, OH
- Posts 42
- Votes 20
Hi Ann,
I would advertise as a four bedroom. Anyone that needs three can live in four and have an office, storage, exercise room, etc. Anyone that needs 4 won't look at the three. It will give you more possible Tenants. It is up to you to screen and pick the best tenant whether it is a 3 or a 4 unit.
best of luck,
Anthony