All Forum Posts by: Kristopher Hanks

@Jay Mayer Just renew with them on a month to month lease. Then you can give them the notice to move out once you know when you need to move in. Find out how many days notice you need to give in your state before you do any thing else. But a month to month would be an option for you. 

@David Zheng Simply amazing.

@Brandian Ross If there are people waiting on the list I would buy one property and get it through the inspection process and then see how fast it rents. If you get a good rent offer and can make positive cash flow from the section 8 voucher payments then repeat the process with property number two. Basically I'm saying test the waters with one property and see how it goes. 

@Andy Richter Welcome, and enjoy the journey. 

It blows my mind that there are people out there that just say, nope we are not moving. It must be a really nice place. 

@Account Closed As I have discovered, you must be willing to just eat Mac & Cheese and a tuna sandwich at times to make it happen. The steak will come later. 

@Account Closed $2500 net per month. Based on the 50% rule I am halfway there with 3 rental properties. But I also have a Porsche number. That would be closer to 25 properties, and $12,500 net/cash flow per month (all cash purchases, no mortgages). I have a LOT of work to do!

@Meghan McCallum You just made me feel so lazy!

@Scott N. Analyzing 1 property per day is a good start with that time allotment. You will get it down to where you can do that analysis in about 10 minutes to get a rough idea if a deal could work or not. If you have books about real estate that you still want to read, I would try to read one chapter of a book each day for that thirty minutes until the book is complete and then move on to the next. That way you can absorb whatever concept that you read throughout the day and see how it applies to your style of investing. 

@Shawn Lowery Amazing job. It was well thought out and properly executed. Overages during rehab happen all the time, so I do not really consider that an oops. Although $20,000 is nothing to scoff at.  The house is gorgeous and I love the tracking sheet you used to list all expenses including budget and actual costs. The floors look amazing and the sale price was good to go.