All Forum Posts by: Josh C.

That response made me laugh. You got to own that one.

Baseboard heat is 3-5 times more expensive to heat your house. January heating electric bill could be $700 for a small apartment.

Also, $6700 for an AC?!?! You are getting robbed. That is like 3k at the max. Especially for a Goodman. That’s a cheap brand.

@Laura Williams

100% your furnace. Replace with heat pump or gas ASAP. We managed a property that was a one bedroom and the bill was $800 in January. Rent was $675. They moved out and didn’t pay either bill.

@Cindy Rack

I’d also be interested in seeing all the numbers (rents and expenses). I don’t totally see how this makes money at 19k a month in rents with that kind of mortgage payment and other expenses.

Also, I can’t believe how much work you did for $310k. That’s amazing.

Thanks

@Asmaa Ahmed

How much money are we even talking about? What did you pay?

@Z. Otto B. It has to worth something. You are allowed to throw out broken conches and old clothes left. That’s trash. If it’s nice stuff then yes, but it’s rare a tenant will will something of value. Has happened to me only handful of times over lots of evictions. Taking a video or lots of pictures is a good idea. Good luck

@Scott Duerk Can you elaborate on your strategy? You’d have no money in deal and 80% equity? Not sure any investors would would bite on that.

@Jorge Pena How is net profit exactly the tile company net proceeds check? You get 100% financing or something. At minimum you’d have some holding costs right?

@Anthony Dooley He was interviewed and said he would hold however much gold in his hand that he wanted in monthly income. If he wanted 10k a month he would hold 10k in gold. Rich dad poor dad is amazing, but yes, you need to get multiple opinions and use good judgement.

It is common on large jobs that are very difficult to predict (lots of unknowns in an older homes) plus the owners always want to take down another wall or do something else different after the fact. What’s his ”plus” the percentage of the cost he is taking?