All Forum Posts by: Larkin Adey

@Robert Vorhies

I hate cats.

@Luke Dilorenzo

You must treat everyone equally, with dignity and care. If the tenants you mean to move out are or are not illegal aliens/cancer patients/battered women or men/unicorns/whatever the lender requires you to inhabit the building, so you do it. This is a business.

Gotta cut your teeth in this business, or it will cut you, and your wallet. Deeply.

@Ahmed Youssef

If you aren't interested in flipping and the property cash flows well - then maybe.

It all depends on what your time is worth to you. Remember though, we are at or near the peak of the market cycle, so if this "turnkey" SF is in the midwest, or south - in one of the "hot" markets like detroit/Indianapolis/KC it could very well be worth about 50K during the nexf market downturn.

@Scott Trench

Tehran. Housing prices are plummeting.

@Nawzad Babiry

46K in Saint Paul MN 2010

ARV 165K Today

Rent 1250/mo

@Nicholas Brady

A college degree is something to be proud of. If it is a goal of yours, go get it.

Real estate will be here when you have accomplished your goal. Accomplishing your goals is probably more important than jumping in as investor at the very peak of a market cycle.

If you can make a habit of accomplishing your goals, you will have a step on many of the world's "real estate investors"

Bull markets make everyone look like a skilled entrepreneur. Bear markets are for those who can stay focused and accomplish their goals.

@Jonathan Yeh

That sounds exhausting.

Building a home takes energy, capital and time.

@Hunter McDonald

I understand. It is a complex situation, and you will work through it with him, and hopefully it plays out. Sometimes it doesn't and thats ok too.

Maybe while you are working this deal, an even better one will come along!

@Tyler Winchell

If the 10 unit is a solid purchase, and the numbers work well i.e. Cap rate at or above 10, and ROI at 20% or higher, this could be a property you could get some partners to go in with you to purchase.

Step 1: find a local real estate meet up, attend and get to know some people, and find a mentor.

Step 2: Talk through your potential deal with some people and see anyone wants to work with you on it. Maybe you could be the live in manager of the building and gain some experience as a property manager - leasing units, collecting rent, managing the books etc.

@Hunter McDonald

Try to remain patient, and have empathy for him. He is sick, so his priorities have probably changed, and we are in the business of helping people. Take the high road and be a caring human being, maybe someday the favor will be returned.

Keep hunting for deals, but maintain contact with him in case he decides one day to sell, you want to be the last phone call he had.

Good luck, hope it works out for both of you.