All Forum Posts by: Eric Gerakos

A couple years later, repairs, vacancy and turnover costs and you've actually lost money every month and you've decided to sell and buy in a more desirable area, but the property hasn't appreaciated, you have to fix it up to sell and incur transactional costs and you lose even more money.

Contrary to popular belief, this is actually an advanced strategy for people with lots of experience and resources, it's a really tough place to start. Most people who start here cash out, lose money and are burnt on rentals and give up. Thethink LTR doesn't work, but it's really just the strategy and location.

This should be required reading for new investors, drooling over the great cashflow they will make buying crappy houses in crappy neighborhoods that attract crappy tenants. They don't associate cheap with undesirable.

2 Votes

I wouldn’t do any of those things. As I’m nearing retirement, I just invested a similar amount in first trust deeds secured by real estate at 9.75%. That’s $ 6,093.75 a month in passive cashflow. I don’t sell anything here on BP. I’m just an investor. Best of luck to you.

9 Votes

“All this to hopefully cashflow a few hundred $$ a month, doesn’t seem worth it.” If you think that is the expected outcome of owning rental property, you should either learn where and how to buy, or invest elsewhere. Best of luck to you.

4 Votes

Houston, Texas

We have received your message, Earthling.

0 Votes

Winnipeg, Manitoba

You really don’t need a financial advisor to buy real estate.

0 Votes

Chicago, Illinois

Just increased rents as I do every year. More demand than supply. I buy where people want to live, not where property is cheap due to low demand.

1 Vote

Casper, Wyoming

I have invested in California for 23 yrs with 0 evictions. Like any other state you need to know where and how to invest.....

5 Votes

A 4plex isn’t a commercial property. Typically 5 units or more are considered commercial.

1 Vote

Columbus, Ohio

Terrible advice. You're "supposed to fail?" Right.

2 Votes

This is why I have stopped giving advice for these kinds of posts.

Newbie - I just attended a seminar and if I buy 10 $50,000 crapboxes in D neighborhoods in the Midwest, they will cashflow $1,000 each and I can retire by the end of the year.

Me - A $50,000 crapbox in a D neighborhood isn’t going to cashflow $1,000 a month.

Newbie - just because you can’t do it!!! Why are you being so negative ?

6 Votes

All Forum Posts by: Eric Gerakos

Eric Gerakos has started 0 posts and replied 651 times.

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