All Forum Posts by: Mark Fries

@Arsen Atanasovski

I just always try to tell the truth. If you make the Kool Aid seem great then people are gonna drink it... And I think he is really good at that..

I was hired by one of his property managers and I did 3 of his turnovers on D class properties here in Jacksonville Florida about a year and a 1/2 ago... And as I was doing the work on these homes that's when I realized that there is just no way on Earth that you are going to make ANY money following that method on C or D class properties... And that's what these homes were.. To be honest you're just going to lose money and massive amounts of it. You've got tenants that are maybe staying 10 months and they are causing catastrophic damage and each one of the turnovers was at least $5000 or more...one was like 7k..

Mathematically it is impossible to make a profit paying those kinds of repairs and having a mortgage. But that doesn't mean you can't make it sound great...

BRRRR does work on A class or B class, some short term term rentals...but that's it...

@Jacob Pritchard

Option 1:

Find a bunch of houses that MIGHT be good deals and then track down halfway decent contractors and then lineup mortgages for all of them and then hope to cash flow on each one. And then once you actually get them rented then try to make money every month... It really doesn't work that well to be honest

Option 2:

Write books, sell houses, make commissions, do seminars...= BIG MONEY that's EASY MONEY...

I will take option 2 anyday of the week.

@Michael Elder

Mike

I can assist. You sent a PM and I replied, but I didnt hear back. How did the duplex meeting go?

@Ryan Love

I assume you mean the emerald trail? Looks like a walking trail that goes through the worst and highest crime neighborhoods in Jacksonville.

I see it failing, horribly.

@Fabiola F.

I can help with drywall or tile. Feel free to reach out

@Rachael Greene

Contractor and investor here, let me know if I can help. Thx!!

@Joshua Brian Pruitt

Go for it, I love that area. Let me know if you need rehab help also.

@Pete Harper

Cash and a grocery bag?

@Nikhil Garg

32209 requirements = a job and security deposit. That's about it... If your PM is going for the full list of requirements then you don't have the right property manager for the zipcode.

@Darwin Jose

Hi! Reach out if you need anything!