All Forum Posts by: Kyle Smith

@Byron Scott you are an inspiration! But don’t stop here! Keep crushing it

@Trevor Schuler there are lots of options other than just saving up for a big down payment so you can BRRRR.

@Tanner Marsey agreed. I’d feel relatively comfortable investing in any area of our City if the numbers worked.

@Dennis M. I appreciate the alternate perspective and generally agree with the sentiment.

I’m confident that my buddy knows what’s what though and I’m happy enough taking his advice to walk

@Michael Ealy good points. This area wouldn’t be classified as an F but certainly a D. And while I’m not new to RE investing, I am new to investing in an area as depressed as this one is.

I’ve owned/own currently in C class neighborhoods which is more my comfort zone.

No progress made in the comfort zone though...

@Frank Wong yeah good call. Trying to reconcile what my gut says with what the POTENTIAL upside would’ve been I guess.

I have to remember that this is investing, not speculating though...

@Jessica G. Bullseye. That was the nail in the coffin on the deal for me

Thanks for the replies everyone. This is what I needed. Feeling better about it the further away from it I get. 

@James De Stefano, you hit the nail on the head with the analogy!

@Nick Farrell fire them and do it yourself...

I walked away from what I thought was a good deal the other day. I wound up walking away because the area of town was a little (read: a lot) rougher than I initially thought. My realtor described the area only as 'working class'. It's out of state so I had a friend, who lives nearby, drive through the neighborhood. This property was 'the nicest one in a neighborhood I wouldn't feel safe walking alone in after dark' in, he said. 

After accounting for all the standard expenses, it would cash flow well each month but I just couldn't pull the trigger after hearing that. I guess I could've added a little more cushion to my numbers for expenses, but it just didn't sit right so I walked. 

All of my initial instincts were telling me that the deal was too good to be true but it's hard to not let your emotions get the best of you sometimes in RE investing. 

I think I need my BP buddies to tell me 'she wasn't worth it', 'I can do better' and that 'it's better to have loved and lost than to not have loved at all' becasue I'm kinda feeling like I just broke up with a girlfriend. 

Guys...?