All Forum Posts by: Joshua D.

@Steve Vaughan Hey Steve! Thank you for your insightful response. Can you explain what CSI is? I'm not aware of that term but would be very appreciative.

Thank you!

Thank you so much to everyone for your insightful and knowledge! You have given us much to think about.  @Jim C. Your answer made us both feel MUCH better, reminds me exactly of my wife and I. We are definitely taking your advice. Makes me relieved to know that you and your wife have been successful, sounds like you've worked your way to exactly where we want to be in 15 years! @Jerry W.Thank you so much, we are definitely going to start reserving cash reserves more readily. I think you are 100% right, and thank you, we are in a market where sellers are quite motivated because our area has extremes of those who are stable and completely UN-motivated and who are willing to sit on their property, and those who wait until the very last minute of a desperate situation and sell quickly. But that also might be every area, hard to say. @JBeard You are so correct, we don't have any idea, at the moment, about what the NOI on our properties are. BUT now that you've suggested it, we most certainly will start to get on that.

bump :)

Thank you so much Marcia! I will re-locate this question, I very much appreciate it!

ALSO, for the RE deals that have "will generate", these are under construction and not move-in ready, but the rent amounts are conservative and realistic for the area. 

So first let me say, my wife and I got into real estate investing about a year ago. I am going to put below the RE deals that we have made, thus far. 

1. Duplex- Paid 16k-Worth 35k- Generating $1,280/month in rent

2. SFH- Paid 27k-Worth 75k- Generating $925/month in rent

3. SFH- Paid 36k-worth 90k- Generating $1250/month in rent

4. SFH- Paid 40k- Worth 85k- Will generate $850/month in rent

5. SFH- Paid 24k- Worth 35K-Will generate $950/month in rent

6. SFH- Paid 24k- Worth 65k-Will generate $750/month in rent

7. 4.6 acres of Land + utilities - Paid 11k- Worth 40k-Will sell for 22-32k

8. SFH- Paid 22k-Worth 52k- Will generate $750/month in rent

NOW, granted, these numbers don't include our utilities costs/mortgage costs, etc. 

(However, we are in less than 100k in debt total, around 71k to be exact right now.)

With us growing, we get nervous every now and again that we are doing the right thing. Sure, we've gained tons in equity, but then you get nervous wondering, "well what if i couldn't sell it?"

Do you ever get nervous about sinking so much money into real estate? Do you think that it's 100% worth it? Feeling victorious but a little fearful, is it jusitified? Is it normal to ever feel apprehensive at times, hoping and praying that you're doing the right thing? 

So me and my wife have been buying and holding real estate for about a year now. We have 8 properties now and wanna grow much more we are working on 3 properties now getting rent ready with are maintenance guy doing all the work for us. We have a decent process but really wanna streamline everything and make for a much more efficient and fast and organized process if we continue to grow which we plan on doing but wanna make sure we are on top of it all. Any ideas are greatly appreciated. We are in process of keeping materials kept up with and making binders now. Any advice would or suggestions would be great.

@jordanredar Thank you so much Jordan! We are really excited about it. We just found out yesterday as well that the first brick house has 100% original oak hardwood flooring underneath the carpet, so that was great! We are going to rip out the old carpet strip by strip and wash down the wood underneath and leave it as that, we are thinking. 

 Always great to hear other investors who also think we got a great deal, we are feeling pretty lucky on this one so far!! Going to keep it, thanks Jordan! Hope to maybe meet up sometime down in Stuart, we are down there several times a year!

UPDATE- Closed on it for $48,000. Got both houses. Escrowed money for the taxes, so that's why it wasn't as high. So far, super happy with our purchase and decision. The houses are in VERY good shape and it seems like they were updated in the last couple of years here and there (new vanities, shower, light fixtures, built-in hubs, etc.) Seems like someone was going to attempt to fix them both up and then didn't put the time or money into it, for whatever reason. 

The one caveat we've come up with is that the water supply is not separately metered for the 2 homes, although every other utility there is. Worth getting a separate meter on it? 

Also, the one house has a crawl space and it concerns me the possibility of freezing pipes in the winter. Suggestions? 

Last one. Because the 2 houses are on the same parcel, the yard is shared. Would you suggest we split it with a fence so each house has its own "side" of the yard? Would this be something you'd want? 

Really appreciate that insight