All Forum Posts by: Wayne Kerr

Quote from @Scott Mac:

Sorry if my timeline was not as expected.

 I am a busy man, sometimes more than others, as we all are.

I come in here to help others when I can.

I make no money from this-and making money is my primary focus.

That and handling the responsibilities and time consuming tasks that go with it.

I also lead a very comfortable life full of friends and business acquaintances that take up a great deal of my time.

(and I would hardly consider 5,000 posts to be ghosting)

As to your question, I have no idea. I just don't know.

Maybe some others might know???

Good Luck!

This should be my slogan https://www.youtube.com/watch?v=xt-9dQ84LBg

Odd take to mention how busy you are...then how many posts you have. Seems you have had plenty of time to post 

Calls down votes racist...then dodge's answering if they can be sexist or transphobic...

I'm speechless after that one 

Super cool idea I think - win-win for everyone, you make extra $, cleaner makes extra $, guest gets what they want and can have a unique memorable experience.

Opens the door for lots of different "package" types 

What's the downside? A bit more time and management? 

Quote from @Chris Miller:

 Hey Jeremy.  In Monroe.  We did remodel on this one with new lighting paint, auto gate etc.  In decent shape now.  

CC or NCC

Quote from @Chris Miller:

@Henry Clark

Hey Henry. We bought a 140 unit fixer facility in Louisiana awhile ago and are having a tough time filling it up. We have a website, SEO is better now and we’ve climbed much higher in the google search but struggling to get clients. Any must have advice on marketing? Thanks in advance

 Where at in Louisiana? There's one near me that was purchased and is operating remotely - it's gone to crap. Older facility. Poor lighting. About 50% occupied. Website is standard...the thing is, if they get your info they will literally harass you with phone calls from some place in India. And text you. It was unreal 

I would go read "The Short Term Shop" by Avery Carl - well worth the $10 or $20 whatever it is. 

There's a to unpack here - preparing the property, pictures & listing, finding a management company, taxes, regulations for the area etc. Keep in mind that you will be running a business at this point, not simply renting out a house. 

This post could easily become a book on what to do

This is an awesome opportunity and it sounds like a really cool unique property - no brainer to get it rented AND on top of that you can still go whenever you want. Very cool!

It's a funny thing - there's a thread on the front page right now asking if $300/month is good cashflow? The general consensus is "yes". 

What the f are you going to do with that big $300/month? How long will it take you to build a reserve? How long will it take to diversify your investments? How long will it take you to retire? Do you plan to live off the land in a tent? 

I mean the number of houses you'd need that even purely cashflow, say $500/mo is so many that quitting the W2 makes zero sense for 99.9% of people. 

Let's say you make 100k/year gross - you'd need 16-17 properties that pure cashflow (profit) $500/month. Most people will never own a single investment property. Then most "mom & pop" landlords just own a few properties. Just based off statistics the vast majority of people (nevermind the vast majority of RE investors) will never replace their W2 income w/ RE income. So the probability of someone replacing their W2 income is extremely low.  

W2 income is stable, predictable and as the statistics show, likely much higher than someone will ever earn going in on RE full time. On top of that - you're simply creating a new job for yourself when it comes to rehabbing, managing, generating leads, analyzing deals, making offers etc - so now you have to scale and outsource responsibility. This is not an easy feat - I am honestly so impressed by the people who have created successful growing companies in the RE industry. Some of these "turnkey" companies have really taken off. The reality is they have created a new job - yes they may make more and retire early, and I'm sure it's better than their old W2 - but I'd be 100% sure they are incredibly busy most of the time. 

This idea of FIRE in your 20s (dare I say 30s and even 40s) makes zero sense - the idea is propagated by what we see on social media (Some 26 year old walking by his G-Wagon and sipping martinis on the beach 300 days out of the year talking about his billions in RE). Then there is a sort of echo chamber where social media spreads this idea to more and more people and somehow it becomes realistic. 

Long story short - quitting your W2 does not make sense for 99.99% of people and likely never will 

@Scott Mac

Can you explain if and how a downvote button can be transphobic? Can it be sexist? Can it be homophobic? Can it be violent?

This is a PRIME example of why a downvote button is needed. You mentioned a topic - got quoted and asked to explain...and crickets. 

We should be able to voice our opinion through downvotes since asking someone to explain something just results in them turning into a ghost...

Quote from @Paul De Luca:

 I wish I could like this more than once. So much of what is on social media is an illusion. We only see what these "influencers" want us to see. I frequently remind myself what we see is only the tip of the iceberg.

I know it, I hate the social media craze. And of course, what metric do 99% of people compare themselves to...the illusion we see on social media where "it's easy to find yourself some off-market deals".

It's not a good combination comparing oneself to something that is essentially extremely "better" (extremely easy, extremely successful, extremely lucrative)

Our rents haven't been decreasing - but they haven't been going up either. Still have a few people thinking it's 2021 and trying to charge 2-300 more than the market - those are sitting. Fairly priced units will sit for 2 weeks or so. 

I would say things have slowed or even decreased very slightly. 

The crazy thing is - insurance costs have increased significantly here and property taxes just went up as well. It does make the local area not as "hot' for investing as it used to be. 

New construction is up, a couple luxury neighborhoods (500k+) and a couple new mid sized apartment complexes (1000+ f/ 1 bedroom). And there's a 147 unit section 8 apt complex being developed as well - in an "affordable" area. 

DOM for selling is up to ~80 days. I actually have a house on the market that has been listed for about 60 days - still gets interest and a couple offers, but nothing worth entertaining (if it doesn't sell, I'll just rent it out again). Solid house and a good location, so a little surprising to me. But with the election and the time of year, it makes sense. 

Quote from @Scott Mac:

[1]  A down vote button seems like it will lead to Cliques forming in the background, with people getting together to downvote certain individuals based on like or dislike of the individual. Vigilante style.

[2]  This is an open dialog site. If you disagree with something or do not like it instead of using a downvote button to hammer someones numbers (Which some people cherish) You can simply state your thoughts in the open forum without affecting their numbers. No one is preventing you from doing that.

[3]  It seems like an open door to racism. We all know that this business can be done successfully by anyone, and is. Forming little groups in the background to down vote certain individuals comments based on skin color, or religion, or perceived political leanings seems like something we could all do without on this forum. Over the years I've seen this happen in other groups, not just with numbers but with responses also. We seem to be free of that here. To the benefit of all of us. And just avoiding it for this issue alone seems like a good reason not to do it.

In a nutshell I think a down vote button would not serve to further communication between us which is the goal of the site. Helping each other. 

So I think a download button let's throw a monkey wrench into the good that this site does for people.

Just my 2 cents.

Just wondering...would a downvote button also be sexist? Homophobic? Transphobic? All of the above, or just some of the above?