All Forum Posts by: Blake Garcia

Check out us hardware supply. Custom key codes 10.49 for deadbolt and handle. Also can be mastered locks for 19.99 a set. They have some great deals for turning over units

Its definitely higher, but by doing credit checks and application systems it can help you screen. I definitely suggest online payment options

Grasshopper. The hours, extensions, and texts are worth the $20

Most people get too busy with life and lose focus... Starting off before having a family gave a great foundation. Once kids and houses roll into picture the focus changes and slips if you let it.

Break out time for investment, podcasts, networking.

@Benjamin Bleasdale

There appears to be alot of open answers to your open question. In west tn aartments ive paid from 25k with 400 per door income to 32k with 500 monthy per door per unit.

Most deals ive seen are advertised as 8 to 10 cap and actually perform between 7 to 9 cap.

TN market is relatively expensive compared to a few years ago. It is ripe for opportunity with some remodeling and renovations if you are willing to do paint, floor and basic updates. Lots of owners dont reinvest and are losing out on financing opportunity.

Ive increased most of my rents by 150-200 per unit with a 2k-4k investment.

35k all in appears to be the sweet spot in my area.

@Gary Crawford

Congrats Gary, i believe it is definitely possible. I have done brrr since before brrr and bumped into excellent equity.

This post has alot of freshman hating on senior grade type mentality.

What millionaire means?

A millionaire is an individual whose net worth or wealth is equal to or exceeds one million units of currency.

What is Net Worth?

Net worth is the value of all the non-financial and financial assets owned by an institutional unit or sector minus the value of all its outstanding liabilities.

@Ryan Enk

Purchased a house off market. Met seller. Called him after to ask if he knew anything else in the area in his circle. He had 16 apartments and was tired of them. He had given his management to his secretary who was also sick of them.

16 - 2 bed, 1 bath brick. Good shape, not remodeled.

$5600 rent roll with empty and non paying tenants

I proposed owner finance and we agreed to 400k total with 20% down. I tried borrowing down payment from bank. Bank declined a partial and came back with 100% finance at 6%.

The bank took 15% from seller as a cd until i hit that equity mark.

I paid appraisal and took over.

Current rent roll is 7600 with 2 remodels currently in progress. Those will rent for 650 and bring new rent roll to $8900.

@D'Andre Byers

Take the title of "INVESTMENT" off of it.

Suggest a fixer upper.... but not as an investment, as a custom home with walls and floors of your choices. Something she has input on.

You still get the benefits but without the big cloud over head. You still know if done right you will make money and be able to sell or refi right which will allow for a nice home and possible investment money at same time.

I purchaced a hubzu house for 72 and was all in for 100. Sold for 140 after 2 years tax free!

@Wesley W.

This is golden, also about to he stolen 😂

@Martin Neal

I would consider a system like online management. It takes the personal confrontation out of the picture. I offer online payment options using check or credit card options. The credit fee is a surcharge paid by them. Late fees are automatic. I setup a reminder 3 days before the first. They can use auto pay. Statements are also on auto. I chose buildium but most all have same features. Sometimes encouraging even partial payments with a percent based late fee helps both parties.

Evictions can be very long and expensive but there is still a time to cut them off.