All Forum Posts by: Justin Case

This is my first full year of operating my units.

I recently looked at another property to buy and surprisingly to me my agent and loan guy told me not to write off everything I can with my current properties. My agent told me not to write off mileage (since she doesn't) and the loan guy told me not to write off "everything". Whatever that means.

Do you investors write off everything possible?
I would think you would want to.

Here are a few things I am trying to decide if I should write off or not since they were not 100% needed.

-Software classes for organized book keeping
-A few dress shirts for showings
-Storage for supplies

Do you guys go as far off to write off things as haircuts?
I know my old landlord did lol.

Everyone thanks so much for your replies, I appreciate it!

Jon awesome photo! Thanks for taking the time to put this up. This is the connection but metal.

Mike- I agree with you on too many trips to the store. I am learning DIY as I go in this biz. I agree with the tool organization.
One of the trips back to the store was to exchange pipe sizes. The pipe was not a "standard" size according the the guy at the store. I learned nothing is simple. I thought under the sink pipes were standard sizes. Again I am learning as I go.

Why do you suggest replacing the metal to plastic pipes?
(easier to maintain and cheaper?)

So how can I learn more about DIY other than when things come up? I am a quick learner and after I do it once I get it and know how to do it for next time.
I have time off work now and I am thinking about signing up for Habitat for Humanity.

Thanks again!

Yep thats it. Metal pipes under sinks. 89 construction.
The washer and tape was disintegrated after only 1yr.
I was told to use plumbers tape by people at hardware store.

Plumber tape: A teflon tape is used to seal pipe threads against leaks. It is a thin, white tape that fills in the gaps between the pipe threads. It also acts as a lubricant for the pipe threads when tightening the fittings together.

Just got back from the rental.

So the pipe did come apart by its self.

I replaced the plumbing tape and the washer a year ago and I found it disintegrated. How could this material disintegrate in 1 year? It had not been touched.

I replaced the tape and the rubber washer and it is fine. I did notice another one of the washers is failing but I only had one with me. It is ok for now and will go back with a new one in a few weeks. Good reason to check out her unit. She did have it all cleaned up. (:

So I got a call (tue) last night that now the kitchen sink pipe has a bad leak.

I just checked this three days ago!
It was fine!
Of course she says it just happened and water was on the floor.
I hope its something easy and does not require cutting pipes etc..

I am going back this afternoon with a camera. To photograph the damage of the paint being peeled/scratched from the walls.

I am going to bill her for this trip but I am not going to get the money. I am in a hard spot here with the economy.
I am getting top rent from her in this economy. Most other comp places are renting for $300 less a month and they have been empty for months. No one is moving. If I kick her out I will have a vacant prop for months.

I am looking to learn more about flipping.
I have time off work and am willing to travel to you for a few days to shadow and help you during a flip.

There are no flips around me since everything is so expensive.

I do not want to come see a first project. I want you to have done at least 2 properties prior.

I am a project manager so maybe I can help in that aspect?
Schedule/Scope/Cost.

I am willing to come to you!

I just ask for some transportation help to/from airport, hotel, & project site..would be helpful.

Please let me know. I am between consulting/consulting jobs now and I can book a flight.

Thanks!

I concur. Good to see other like minded people out there.

I wish I was in an area with lower priced homes. Seattle is $$$ 10x as much compared to the prices I see in Tx.

Is there a lot of competition in Texas?
Seems like so many flippers are there.

Thanks Tony I appreciate it.

I had no help at all and had no mentors I wish I had a mentor early on. I just researched the market, properties, and crunched a lot of numbers.

I work hard and save my money.
I got a 4yr degree got a good job then got a better job and since I bought my props. I got an even better job. I work in an aerospace engineering field. While saving I would work an average of 65hrs a week on a big project.
I am really tight with my money. Always have been. I do not buy a lot of clothes/nonsense and never spend more than $9k on a car. On my third car currently. Wish I kept my first car longer!!
I see to many young people buying new cars and spending too much money on their dumb car.
I never had $1 of credit card debt. Always paid the balances off.

I do not come from money.

Investing in Real estate has been a goal of mine since Jr high.

Currently I buy and hold but would like to expand. I am just trying to learn what I want to do next and where. I am willing to travel for the right investment.
I am interested in a flip but want to do it first with a partner. I just cannot find someone I trust with the extra money.

I was 26 when I started a few years ago. Went all in at once.. bought $1 million worth of multi family props. I waited 13 months and studied the markets. I looked at loan options (first banks were failing) and home prices and got in at the perfect time. I pulled the trigger at the right time did everything right. My two agents were telling me how prices would go up and I told them No and made them mad cuz I was not in a hurry to buy cuz I saw the bubble.
I am lucky enough to say my properties have rose in value since I bought in a high demand niche area.

I am just a normal young dude and people do not believe I am a real estate investor because I do not fit the stereotypical mold. ie older guy.
Or they assume I have slummy homes.

Often at times when I am doing yard work at my properties people think I am just the landscaper. They often do not believe me when I tell them I am the owner.

I am out looking to learn more and help others.

Is this loan still Valid?