All Forum Posts by: Jason Mileshko

Does anyone have experience in owning ice machines. I'm talking about something from Twice the Ice, Watermill Express or something similar. It seems like a good opportunity. The initial cost seem low compared to other businesses. Routine maintenance doesn't seem difficult. And I could set my own schedule. I'm looking to have some in the New Mexico or Texas area. Any advice would be appreciated. 

This is going to be my first BP conference. I’m coming from New York! Looking forward to Network and build valuable connections. What days is everyone attending? Post or PM what you do so we can possibly provide each other value.

would you rather get 5k a month or a variable income that could be slightly negative or 20K+ but is going to be more than 5K a month average annually.

What amount more would you need to get annually minimum to choose the variable income?

I have been re-listening to David Greene's BRRRR book for the umpteenth time. I am currently doing 2-3 BRRRR deals per year with the same money. We held some and sold some after a couple of years of BRRRR. I noticed how David Greene wrote he scaled to 2 per month. How did he manage this?

If i use hard money to rehab i am still 30-40k per property locked up for about 6 months to complete the rehabs +4-5 weeks for closing. That money includes the down payment + funds to front rehab costs before reimbursement. In today's market i can still find value properties on the MLS with some effort or through my agents if they are substantial renovations which is fine. If i want to do 2 per month, and say only did BRRRR no flipping i could focus on getting more efficient in the renovations and get down to maybe 4 months + tenant placement + refinance still 5 months of money locked out. Seems like i would need to increase my funds available from 70-80k --> 350k in order to maintain a steady flow of properties. I could see doing this in stages - If i tried to focus on 2 per every other month i could do 12 a year and would need about maybe 200k.

Seems like with 8-10 in progress at any given time i would also want an extra 25-50k+ for additional reserves. Doing these massive renovations there is always something unexpected once the walls get torn off even if i count of replacing all plumbing and electrical.

Does anyone know how David Greene was able to scale? In his book he mentioned saving up 90k, did he save up more than this to increase his velocity of BRRRR properties?

Would welcome any insight on this so i can work through mechanically how to increase from 2-3 a year to 10-15 a year.

Thanks in advance!

Mike

been on before asking this but my profit from my house has gone way up. My property can make me around 70k profit right now if I sell but also can make me about 700 a month from renting. I have a place to go live with my buddy for 300 dollars a month rent. What you guys/girls do if you were me. I wanted to take my profits and possibly buy one or two rentals 

Are there any experienced BRRRR investors in the Austin area that would be willing to sit down for coffee/lunch (on me, of course) so I could pick their brain?

Never done a BRRRR before but am trying to start building my portfolio using this method. Would love to hear the experiences of others.

Greetings!

I would love to hear some general & personal advice on analyzing a multi family property. Specifically, in this case, a quadplex. I have been doing my research through readings & the BP podcast. What a great program for someone so ready to jump in! Anyways, I found a quadplex in my area listed on Zillow. The purchase price is at $399,900 for an 8 bed, 4 full bath, & 4 1/2 bath. Each unit has stairs to a second floor. Approx. $98/sq ft & built in 1981. Now, using the simple 10% rule, this property should produce at least 4K/mon in rent, right? I haven’t spoken with the agent yet, but there are claims on the listing that there are long term tenants in place with 0% vacancies. Sounds attractive! But… why haven’t fellow investors jumped on this? Is the price too high? I would love to get started, but if my first property is a 400k purchase, I want to be absolutely sure about it. I will also mention, this brick building is right next to its duplicate (which is also listed & at same price). Tenant pays all utilities & I would do lawn care myself. The property is in a popular area & close to good schools. Listing site estimates roughly $1,700 in mortgage, tax, & insurance with 20% down.

What are your initial thoughts? Call the seller for more info? FHA out of question since units are full? What other ways could I finance (BRRRR?)?

Thank you in advance!

Hi all,

I'd love your thoughts on my current thinking. We live in Miami -- which has seen record growth and movement. We are in the market for LTH MFH and have been looking in Miami, Broward and Palm Beach for tri-quad plex. Prices are astronomical (i.e., 420k-570k) for a decent (not BRRR) property. We are starting to research out of state, namely:

Chattanooga, TN

Asheville, NC

Columbus, OH

Bend, OR

Fort Meyers, FL

Destin/Emerald Coast, FL (would do STR here; not our preference)

We always wanted to be a 'drive away' from our properties, but the current market is telling us maybe that's not possible or best. However I wonder whether the strong appreciation of the South FL market is worth the high entry point; even if other markets have a lower entry point but maybe not appreciating as fast. Something to also consider. I'd love thoughts on within driving distance MFH vs. far away and also, any insights on the specific markets listed and friendliness to MFH living areas within them. Thanks all for any insight!

Investment Info:

Small multi-family (2-4 units) wholesale investment.

Purchase price: $36,600
Cash invested: $5,000
Sale price: $42,000

Multi Family Wholesale/Flip