All Forum Posts by: Austin Fruechting

Thanks for answering. And yeah, totally understand that they're the approximates and what it should average to over time. Some years will be higher and some lower. 

I apologize if I missed it in this thread. What rent to purchase price are you buying at and what's the total gross rent that generates that $160k cash flow? I'm curious how our numbers compare. 

I'll answer too. I'm at ~$1,080,000 annual gross rents and moving towards $1.170 (as we are adding value to a 32 portfolio we closed on a month ago). On that $1.170mil we should cashflow ~$225,000.  Pretty much all my loans are 20yr am @5%

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.BTW: We both have 483 posts right now, but you have an additional 40 votes. Guess I need to add more value! lol. 

VERY relevant. It adds a level of professionalism and seriousness. If you want to make a better impression, have business cards on you. 

I don't go through very many with where I'm at... but when I do give them out, I want them to leave an impression...

I love these raised spot gloss cards!!

If she actually has been a good tenant, you aren't going to change the rental rate, why not just let it go to month to month?

@Jay Hinrichs - good deal! Those are the major ones, I'm sure there are others though. Everyone wants to make a buck!

Oh, and facebook... I would not miss it if I couldn't get on. Worthless time-suck.  I'm always wanting to cut the cord, but I've always had business pages... and lots of people my age use it to set up events/parties. So I'm just trying to train myself to not open it unless I get a notification or need to for the business page. 

No issues with mine loading @Jay Hinrichs, but it is reformatted significantly. Seems like it could be used as a chat feature now too. 

Could be a browser issue. I'm on safari, what are you using?

Hey Michael,

I checked out your podcast yesterday and I also grabbed Multi-Family Millions from your recommendation and will get through that in the next couple days.  

I have a question for you about your portfolio:  So you'll be at 109 units and $160k in cash flow... is that the total amount, or your ownership equivalent? If there's partners along do you mind sharing some of the structure? 

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Edit to add a quote about luck: "I believe luck is a concept created by the weak to explain their failures." - Ron Swanson (Parks and Rec, lol)

I can't say 100% that I would or wouldn't take the deal without fully knowing the market & the property... but generally speaking if the building is structurally sound;  $2,025 in rent for $129,900 is a great ratio! 

I'm in the same boat! It was the main motivator for me. 

Here's one of my favorite posts I wrote about the "POWER OF LAZINESS" 

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I’ve always been lazy. Or at least that’s what most people would probably have said about me ever since I was a child. Who knows, maybe I had the average worth ethic for a kid. But average work ethic doesn’t cut it growing up on a small farm in the flatlands of Kansas. I owe a lot to that failed farming operation though. Seeing my father work endless hours to eventually have to walk away with nothing to show for it but debt exposed the futility of the ‘just work hard’ mantra. Other farmers, my grandfather included, worked until their bodies just physically couldn’t anymore. I have tremendous respect for them, but knew I would never follow in that path. I was way too lazy for that.

Don’t get me wrong; hard work certainly has its place. Thanks to the farm, I am no stranger to long consecutive days and weeks of grueling manual labor. I know sometimes you just have to buckle down and do what has to be done. I have put in 80 hour work weeks in business too when it’s needed. But the big question to ask is simply “why?”

WHAT’S YOUR REASON TO WORK HARD?

Is it because you’ve simply accepted and never challenged the traditional path that you get a job and just work hard? Maybe get a promotion, live below your means, and save a little. Then maybe you’ll be able to retire and live the good life after forty or fifty years of working hard. Spend more than half of your adult life (and the most prime years of your life) working hard so that someday when you’re old you won’t have to work?! That sounds terrible!

So being the lazy person that I am, I started digging in to ways to possibly cut out decades of having to work… and I’ve made it happen. My answer to the “why” work hard is actually a manifestation of my laziness. I feared a life of never ceasing hard work, struggling in the rat race to get ahead, and doing so for the majority of my life. My answer to the why is so that I wouldn’t have to work for very long. I was more than willing to work hard for a window of time knowing it could shave thirty to forty years of work out of my life. 30+ years of living free… now that is a great reason to work hard!

LAZINESS DOESN’T MEAN SLOTH!

Laziness in the sense I am talking about does not mean that the desire to lay around like a sloth on a couch all day playing video games and watching TV. The type of laziness I am referring to is simply not wanting to spend my time and energy doing something because I have to. Not spending my time and energy at a cubicle dealing with people I don’t enjoy. I want to spend my time doing what I want to do and when I want to do. I can spend time on personal hobbies or passion projects like this blog.

Ten years from the start of our investment journey had been our target to get our freedom. We actually made it in seven years. Our days are completely free to do with as I please. Thanks to my laziness, my wife and I have complete financial freedom. 

HOORAY FOR BEING LAZY!

As long as you have good management in place that's the whole idea!! I have 141 units with great managers and I am only involved on serious issues... and that's usually just answering a call or email from the manager with the options, choose the option, and then they handle it. 

Dude that's awesome!!! WELL DONE!