All Forum Posts by: Eric James

The bright side is that you have learned a valuable lesson on real estate investing. One that you'll never forget. That kind of real learning only happens when you put your own money at risk. People doing "no money down" don't learn that way, because they aren't risking their own money.

3 Votes

Have you reported this theft to the police?

1 Vote

Kansas City, Kansas

I think all types of real estate investors are interested in path of progress. Even cash flow investors.

1 Vote

Columbus, Ohio

Quote from @James Wise:

Quote from @Eric James:

Quote from @James Wise:

Quote from @Eric James:

Quote from @Melanie P.:

Quote from @Eric James:

Quote from @Melanie P.:

Quote from @Eric James:

Quote from @Nicholas L.:

@James Wise

I think part of the issue is that, per 2016 Brandon Turner, every property cash flows $250 a month forever, and so there's no such thing as a $5K turnover

I've had rental properties for 14 years and never even had a $1000 turnover

You've got rentals going 14 years that you've never replaced the flooring? Never painted? No plumbing issues?

Yeah, sure.

Those don't cost thousands of dollars.

You said you'd never had a $1,000 turnover before. You're quoted above.

Yes, I've replaced flooring, painted, and had plumbing repairs. Never been above $1000 for a turnover. I don't understand why this seems so strange. I get having a rare tenant who trashes a place, but I haven't had one to date. What seems strange to me is that you think it's common.

You can't get a unit painted for under $1k. You haven't repainted an entire unit in 14 years?

I either have my employees do it or paint myself. And it's rare that I have to repaint an entire unit.

What do you pay that poor guy? Slave driver bro.

$20/hour. I don't have trouble hiring at that rate.

0 Votes

Cleveland, Ohio

Quote from @James Wise:

Quote from @Eric James:

Quote from @Melanie P.:

Quote from @Eric James:

Quote from @Melanie P.:

Quote from @Eric James:

Quote from @Nicholas L.:

@James Wise

I think part of the issue is that, per 2016 Brandon Turner, every property cash flows $250 a month forever, and so there's no such thing as a $5K turnover

I've had rental properties for 14 years and never even had a $1000 turnover

You've got rentals going 14 years that you've never replaced the flooring? Never painted? No plumbing issues?

Yeah, sure.

Those don't cost thousands of dollars.

You said you'd never had a $1,000 turnover before. You're quoted above.

You can't get a unit painted for under $1k. You haven't repainted an entire unit in 14 years?

I either have my employees do it or paint myself. And it's rare that I have to repaint an entire unit.

0 Votes

Cleveland, Ohio

Quote from @Russell Brazil:

Every problem can be assigned a dollar value. Assign a value to the cost to fix the issue, and negotiate.

Yes, get a couple contractors to give estimates of the cost. Then negotiate based on that.

0 Votes

Houston, Texas

Quote from @Melanie P.:

Quote from @Eric James:

Quote from @Melanie P.:

Quote from @Eric James:

Quote from @Melanie P.:

Quote from @Eric James:

Quote from @Melanie P.:

Quote from @Eric James:

Quote from @Nicholas L.:

@James Wise

I think part of the issue is that, per 2016 Brandon Turner, every property cash flows $250 a month forever, and so there's no such thing as a $5K turnover

I've had rental properties for 14 years and never even had a $1000 turnover

You've got rentals going 14 years that you've never replaced the flooring? Never painted? No plumbing issues?

Yeah, sure.

Those don't cost thousands of dollars.

You said you'd never had a $1,000 turnover before. You're quoted above.

I didn't realize you were only a couple years into this. Give it time and get some more units under your belt. Eventually you'll have a tenant wreck one or it will be time to do some upgrades after a tenant moves out. It's not common, it's inevitable.

14 years without a tenant purposely damaging a unit (knock on wood). You're right, eventually it will happen. But if this was a frequent occurrence I'd be reexamining and changing my investment strategy.

You've been collecting rents for 14 years but only looked into paying taxes on that money two years ago? Any negative consequences from that, yet?

I'm unsure if you're not reading what I wrote or if you're a troll

0 Votes

Cleveland, Ohio

Quote from @Melanie P.:

Quote from @Eric James:

Quote from @Melanie P.:

Quote from @Eric James:

Quote from @Melanie P.:

Quote from @Eric James:

Quote from @Nicholas L.:

@James Wise

I think part of the issue is that, per 2016 Brandon Turner, every property cash flows $250 a month forever, and so there's no such thing as a $5K turnover

I've had rental properties for 14 years and never even had a $1000 turnover

You've got rentals going 14 years that you've never replaced the flooring? Never painted? No plumbing issues?

Yeah, sure.

Those don't cost thousands of dollars.

You said you'd never had a $1,000 turnover before. You're quoted above.

0 Votes

Cleveland, Ohio

Quote from @Melanie P.:

Quote from @Eric James:

Quote from @Melanie P.:

Quote from @Eric James:

Quote from @Nicholas L.:

@James Wise

I think part of the issue is that, per 2016 Brandon Turner, every property cash flows $250 a month forever, and so there's no such thing as a $5K turnover

I've had rental properties for 14 years and never even had a $1000 turnover

You've got rentals going 14 years that you've never replaced the flooring? Never painted? No plumbing issues?

Yeah, sure.

Those don't cost thousands of dollars.

You said you'd never had a $1,000 turnover before. You're quoted above.

0 Votes

Cleveland, Ohio

Quote from @Melanie P.:

Quote from @Eric James:

Quote from @Nicholas L.:

@James Wise

I think part of the issue is that, per 2016 Brandon Turner, every property cash flows $250 a month forever, and so there's no such thing as a $5K turnover

I've had rental properties for 14 years and never even had a $1000 turnover

You've got rentals going 14 years that you've never replaced the flooring? Never painted? No plumbing issues?

Yeah, sure.

Those don't cost thousands of dollars.

0 Votes

Cleveland, Ohio

All Forum Posts by: Eric James

Eric James has started 22 posts and replied 2236 times.

Post: Lessons Learned: My Experience with The 'Flip System'

Post: Eviction - vandalized property

Post: Chips Act Path of progress investing is where the big dollars are made Oregon

Post: Yo! Out of State Investors! Stop doing this. We are laughing at you.

Post: Yo! Out of State Investors! Stop doing this. We are laughing at you.

Post: house at great location and price, inspector found foundation issue. deal breaker?

Post: Yo! Out of State Investors! Stop doing this. We are laughing at you.

Post: Yo! Out of State Investors! Stop doing this. We are laughing at you.

Post: Yo! Out of State Investors! Stop doing this. We are laughing at you.

Post: Yo! Out of State Investors! Stop doing this. We are laughing at you.