All Forum Posts by: Eric Yow

Chuck, I appreciate you reaching out!  It's been a whirlwind, as you can imagine, so I'm sorry for not getting back.  Seems like maybe I tried but it's my fault for not being persistent enough.  You've apparently done exactly what I'm thinking I'll be doing.  53=awesome!  I'd love to connect, maybe over lunch sometime soon.  I know I could learn a lot from you.

Friends, I'm contemplating a 1031 on a sale, but I am weighing a few options on maximizing the best ROI over the long haul. I'll share it with round numbers for a hypothetical analysis. Say the relinquished property nets a profit of 50k and I have two properties under contract, each for 100k, which I'll keep as rentals. I could designate one or both properties, but I want to maximize my ROI.

Would I be better served spreading the 50k between the two properties, effectively putting 25% down on each (Option 1) or putting the 50k on one property, tying the gains to just the one property for the long haul (Option 2)?  (I can use other funds to buy the second property.)

A secondary question is this, could I utilize Option 2, throwing the 1031's 50k down at the one property, then do a cash-out refi (or get a line of credit) to pull 25k-30k cash out of the property?  (I would then use that cash to acquire the second rental under contract anyway.)

Greetings.  Following others, I thought I'd do a new member intro before posting anything substantive or asking questions in other areas.  I'm Eric Yow, 34, from Clarksville TN, where my day job is practicing law.  I do mostly criminal defense, with some personal injury, in a small firm in which I am partner.   I also own a haunted hayride park open every fall, where patrons ride on a truck/trailer and shoot live zombies with turret mounted paintball guns, among other attractions we offer.  Yes, it's as awesome as it sounds.  I previously competed in professional Artistic Pool/Billiards around the world and on ESPN, but now my main hobby/money-pit is racing my corvette. I'm excited about real estate investing and am glad to be sharing this much of the journey, this early in the journey.

I started real estate investing back in January of this year, with an eye towards buy and hold, aiming to acquire one SFR rental each quarter. Then I listened to a certain book that motivated me to 10x my goals and my efforts. Thus far I've acquired eight properties with two more in the pipeline. One has been rehabbed and is rented. Four have been rehabbed, listed, and are all sold with closings in June/July. A 6th is nearly finished with the rehab and I'll be "selling" it to my in-laws, at no gain, giving them the equity (they're amazing and I am effectively moving them closer to us and their grandkids). I have two more flips being rehabbed that will list next month. And I have two more in acquisition that I will close on next month. I hope to 1031 from my largest sale into one or both of those, which I'll hold as rentals.

I've never done anything halfway and always seem to find something cool to do with whatever time we have. I'm loving real estate, despite its known challenges, and I'm thrilled that it's going this well. Ideally I'll acquire as many as 10 SFRs to hold as rentals, flipping others when it's most profitable, this year. In subsequent years, I'd like to scale up to multi-family and/or apartments, most likely. We're having so much fun with 'today' that I haven't slowed down long enough to think longer term. When I find time to slow down a bit, I'll make my goals more specific and gear my efforts towards that end. Generically, I want to create passive income from my REI and other businesses so that I can spend more time with my family...at the race track. :D

I hope I have the ability to contribute on BP along the way.  I've listened to many of the podcasts and get a lot out of the guests being interviewed.  I've not been on this site much, but I understand it's a good resource to those who use it.

Thanks for always making people feel welcome.  If I can be a blessing to anyone else, I surely will. 

I'm in Clarksville as well. Welcome! I only began in REI this year but having a blast. I'm an attorney by day, squeezing in some rentals and flips. Good luck!

Welcome! I'm an attorney and new real estate investor here in Clarksville. Just started this year, myself. 

I've looked at some in the 215k+ range and can't make them cash flow. Even at 5.1% on a 5/25. Unless you put a lot down, it just doesn't make sense. What would the numbers have to be for them to be a good CF property, to you?

At this point, my firm isn't doing anything on my deals.  I would love the checklist!

Hey friends!  I'm Eric Yow, in Clarksville, TN.  I wanted to introduce myself and share in the excitement of getting my first contract.  I decided after the new year I would begin investing in real property (finally!), after having talked about it for a while.  My goal was to buy one rental in the first quarter of this year, with four total in the year.  However, I'm more than excited and overwhelmed with opportunities I've been able to find.  I have been making offers on many many properties, several of which are still pending.  I have had one accepted and is under contract.  (Three or more properties are extremely likely to become deals as well!)  It's quite exciting.  Now, on to the work!

I anticipate a buy and hold strategy, primarily, with flips only when the particular deal is more fitting for it.  Perhaps my first question for the forums should be this:  is there a good checklist for "when you get your contract, do this..." that could serve as a reminder of the things that should not be overlooked, or perhaps done in a particular order (e.g. termite letter, prof inspection, utilities turned on, etc.)?

Looking forward to being in the company of other RE investors on the forums!