All Forum Posts by: Anthony Gayden

Michaela G. That's fine if you are willing to settle for less. I am not and your post does not convince me that your way is in fact better. Just because you would stress out with more properties and doing more deals doesn't mean that is true for anyone else.

Wow, that's all I can say. I guess after being a landlord for so long you see nearly everything.

@Bryan Tasumi

250 - Rental units that profit on average $100

60 - Wholesale deals that profit on average $5000 

12 - Flips that profit on average $25,000 

Honestly I wanted to be a doctor when I was a kid. The thing was that I didn't want it because I had a passion for that kind of work or wanted to help people. I wanted to be a doctor because in my mind as a child, doctors were the richest people. They got paid the most. I had no clue about sales or business back then. 

@Kristen Ray

I love older homes. My most recent investment purchase is a home built in 1900 and my primary residence was built in 1920. My former primary residence in Kansas City was built in 1929.

In terms of maintenance needed, I am a strong believer in fixing/updating the older homes immediately upon purchase.

Here are a few things to look out for on older homes

1. Asbestos

2. Lead paint

3. Knob and tube electrical

4. Radiated heating

5. Galvanized water pipes

6. Cast iron or clay sewer pipes

7. Foundation issues

8. Old windows

9. Poor insulation

10. No A/C or window units only

11. Wood rot

What I have found is that usually some of these issues have been resolved but many times there will be one or two of these issues in most older homes. These are not deal breakers, in fact they are an opportunity because many people do not want to deal with these issues. 

If you look in most major cities, the most trendy and popular neighborhoods with the most valuable real estate are often predominantly older housing stock. 

Isn't Brandon buying a mobile home park in Bangor?

I'm not sure I believe that Omaha will have no sales growth but 2.18% price growth. Also Kansas City, Indianapolis, and St Louis have seen price appreciation for a while now but they are expected to have price depreciation in 2018???

Originally posted by @Thomas S.:

Spouses often compromise their goals and aspirations to preserve a relationship. They will try to change to satisfy others.

Shame people feel they must put relationships ahead of their own needs. In the end they will be a lesser person and dissatisfied with their decisions.

Relationships are highly over rated. If you can not be accepted for how you are move on to the next relationship.

 I agree 100%. 

I have seen so many people compromising on their goals and end up bitter, unhappy, and divorced.

This thread is just another appreciation vs. cash flow topic.

Appreciation is not a play limited to the coasts. Seeing my wealth increase hundreds of thousands of dollars due to appreciation in interior locations has shown me that.

Everything outside of California and the east coast is not a ghetto Detroit neighborhood with D class tenants and negative appreciation. That is just ignorant.

Jorge Ruiz Well I just ran into issues on this. First of all my bank decided to have the property appraised immediately rather than closer to closing after the repairs would have been done. That resulted in a lower appraisal and less cash out available. Next I hit the debt to income limit. I was able to get around it by further lowering the amount I would get cash out. Finally I decided to completely pass on delayed financing since I would only be getting about 40% of the ARV and it wouldn't be enough money to do my next deal.

Kevin Dehesa If you live in California you will not be able to live in one of the units in Vegas. If that is the case you will have to use loans for non-owner occupied. These loans have a higher interest rate and a lower LTV. Expect to put 20-25% down. I own rentals in Phoenix and in Tucson but live in Nebraska.