All Forum Posts by: Joey Hicks

Has anyone been noticing that Walgreens, Dollar General, Walmart Neighborhood Markets, and Long Horns are selling their buildings? They still have leases on the buildings but are selling them. Is this normal for companies to sell off their buildings or is this new with the Corona virus pandemic and companies are looking to raise capital?  

Has anyone taken or considered taken the Covid 19 Cares act $100,000 out of their 401k to purchases additional properties? What are you all's thoughts? My thoughts are that you could buy a property and depreciate it over the three years to cover the taxes. Of course I would check with a tax professional first.

We closed last week on our first rental 2 bedroom 1 bath! Paid $35,000 looking at rehab cost of 25,000 to $30,000. Rehab will include adding a 3rd bedroom and 2nd bath, along with some structural work. Looking at rents of $925 with cash flow of $285.