All Forum Posts by: Mark Fries

@Jillian Konoshima

Anymore details?

@Ivan Kost

Google obi dorsey

@Daniel Caldwell

👍👍

@Pat Wilver

Yes for a tiny 3/1 like that it can be done. 3000 for equipment and 2500-3000 for ductwork. No problem.

PM me for his contact info... I'm sure if you throw him another 300 for travel he will come up there no problem

@Daniel Caldwell

I'm not picking on you but 12000 to install a new air conditioning system with duct work is really high... That total job should cost no more than like 6500 and even that is probably high... I could probly give you the phone number for my guy and he would drive up there from Jacksonville and do it for like 5500..units, ducts..all of it.

Just continue to sharpen your pencil and try to make it work if you think it's a good deal.

@Daniel Caldwell

Looks marginal, appears to be in Savannah Georgia? C or D class.

Think numbers are too tight.

@Jim K.

100% agree...cash

@Jimmy Hung

Try Charles Tripp at Valiant Property Management

@Jay Hinrichs

Yeah I am just blown away with the amount of leverage that is pushed on this forum and in the real estate world in general.. Especially for this type of asset class..

You mention air conditioning systems and water heaters and it just makes me reflect because most all of my air conditioning systems are 20 or 30 years old with the older freon and they just work fantastic they never break there's hardly any problems I'm a firm believer that older stuff is better stuff... And being a contractor I'm doing so many renovations I try to keep the old equipment on the projects that I'm doing and I put it into storage so if I have a problem I have parts readily available for my repair guy. Same thing with water heaters most of mine are 20 years or older and they just keep working great and worst case scenario I gotta change out a $20 element.. Maybe I'm just a weirdo but I think it's this mindset that keeps me cash flowing excellent year after year.. I have more repair costs out of my 2 or three-year-old air conditioning systems then I do that ones that are 25 years old...

@Jay Hinrichs

You are correct this strategy only works because I don't have any leverage I own them all free and clear because that's been my strategy since day one I've always been anti leverage for this type of property class. I'm anti leverage for basically everything but that's a whole different topic..

I keep them clean, locked up and empty. I drive by once a week and just make sure everything is secure and I'm just gonna wait probably until the Spring or at least until I get the warm and fuzzy that things are turning around.

I've never had a huge issue with theft or stolen items so that doesn't really keep me up at night but if somebody stole an air conditioner I keep extras at my warehouse and that would be a cheap rrplacement but I wouldn't put the replacement condenser until the Spring.