All Forum Posts by: Jeffery Waicak

syndication  would probably be my recommendation  too. You will probably only cashflow about half(2000/mo) in the deal, but the right deal will do a cash out refi in a few years, keeping your cashflow and still returning a high percentage of your original investment. Then you find another deal for that money.  

  I'm sure you could cashflow  $4000/ mo with your investment of 250,000 but it would have more moving parts. Since you don't hate your job, are accredited, and don't need the cashflow,I would look at a slightly slower path to the $4000/ mo number. 

I would  say pass or counter. 

 1 you need to include a management  fee

 2 you are going off the seller's numbers. Sometimes they're not accurate  

  This is all assuming  this is not a value add property  that is renting under market value. 

my biggest reason is I'm not yet accredited. 

 I'm not liquid right now, as soon as I have capital, I'm investing it, but am very interested in going into syndication in the next few years. 

I'm super excited about this opportunity! I'm looking to get a house close to the pro football hof. I have had no luck, but am just starting on this adventure.   Is anyone else doing air bnb?  I would love to book with you to see how it works. Thank you

It's ok to be stressed and overwhelmed with all you have going on!  Most people wouldn't have made it to one unit. It's terrible that your first tenant is a bust, but its part of the business.  Screening helps, but it's not perfect.  One thing to keep in mind is that if you stick with it,  in 30 units this will be a laughable problem  

It's ironic  I'd bet if any of the tenants knew that another person at their job was doing the same work for 20%  more money then they would demand a raise. But when the shoe is on the other foot, you're a greedy capitalist pig. It really doesn't matter if you can afford to rent it for free, you can't charge more if you have negative cashflow,  it's what the market says. That said, I would probably  offer them a lower  increase in rent to just stay. If you don't rehab, then you don't need to go full market . Its your business model though, so it may not work.   

I was in a multi level marketing company. You try to get people to join and make money off their efforts. Not everyone wanted to join. The head guy in the office said no, not everyone will join, but someone has to make my fries so that's ok. 

That said,  I think I can learn something from anyone, rich, poor,investor, renter. 

  And go cavs

I did poor in school 

I was looked down on by other kids because of my clothes, shoes etc.

I failed at re once and was laughed at. 

 I disagree with the plan of working 40 years to have a meager retirement 

I believe in all the self help ra ra crap,it is all mental 

I believe the biggest risk is not taking a risk

 I really like re and business. I'd rather meet Warren Buffett than Tom Brady 

But I think the 2 big why's at this time are

1 to show a young punk kid( the me of 20+ years ago) that it can be done.

 2 I want to see what i can create, and who I can help along the way.

  I appreciate you posting. I hadn't really thought about it in a while 

I think its doable. Another  option  is to be a private lender. Or buy notes. I've never done  either. That's a great spot to be in!

I'm ignorant, but I really am looking  hard at air bnb. How much work does it take?  You already have systems in place,  so adding one more is how much work? How much equity will you build in 7 to 10 years? Could you renegotiate?  A 10% or so management fee maybe.  From his position,  as long as it goes well for 7 to 10 years he's great! But what if the bottom falls out of the market?  It's him holding the bag.