All Forum Posts by: Michael Doherty

@Ryan Murdock completely agree. What do you mean by FTE though, full time employment? 

@Matthew Paul Did you originally by a plow to do your own driveways and then branched out? Or was that your full time business before investing? 

Appreciate all the insights. Sounds like if you do get a vehicle, get a van because it's safe from elements and theft, better on gas and will still accomplish most tasks. However, to your point @Joe Splitrock- time is money and you cannot expense your time. I suppose the question comes down to.... if I don't end up doing lawn and snow... is getting a van or truck even worth the purchase price, taxes, insurance, deferred maintenance ect. Something to be considered- I appreciate all the advice.  

@Thomas S. I see the points of the van. But I think an open truck bed would be more practical for lawn care, hauling, dump runs ect. But definitely something to consider. 

@William W. to be honest I don't really follow. If I am a tenant, I would 100% want the grass cut... by the landlord or whoever, it doesn't really matter as long as it gets done. 

Hi all- looking for opinions on whether or not I should hire out for lawn care and snow removal on my properties or buy a truck and do it myself... let me explain my situation. 

I currently do not own a truck but would really like a beater truck to have for random things and project ect... As of right now, I own 2 Multi-Family properties and my gf is closing on another (3 total). Our plan is to keep acquiring more and build a portfolio. 

I keep going back and forth on whether or not I should mow and do the snow removal on all 3 properties or hire out. Albeit, 2 of the properties are within 5 miles of each of each other and the 3rd is 25 mins away. None of them have extensively big yards or driveways and realistically would take 20 mins to mow and less to plow.

Couple things to think about: I currently work 40 hours a week.... would you really want to spend your weekends and week nights taking care of this? Opportunity cost of looking at other deals/ enjoying life. You Could write off the landscaping/snow removal. In my area the cost of mowing every other week would be roughly 50-60 bucks per month per house. Snow removal is anywhere from 35-50 a driveway. I live in New England so there could be snow twice a week or once a month. Can you really justify paying someone to do the work when you live close, are you just being lazy?

Lastly and thank you for bearing with me, I have plans on purchasing a truck regardless..... so it's not whether or not to buy a truck or not... it's at what point do you hire out and build a good system/network or take care of yourself? 

@Dominik Perrenoud I can completely empathize with you on this. For the first time I have started making a decent amount of money akin to yourself and feel the need/want to buy nicer things. The constant idea of 'I could die tomorrow, why not buy it and treat myself' vs 'well I don't really need that, and if I buy it today nothing will change tomorrow.' 

But one phrase has always keeps me grounded when faced with materialistic things- 'Everything in moderation'. I have also found that if you eliminate your big ticket expenses, like rent, or a car payment- you can still afford those little luxuries. Rather than spending 1k a month on an upscale apartment- house hack a duplex, and customize the unit you live in how you like. In turn it is much easier to 'justify' that new car part or expensive meal--- But remember- 'Everything in Moderation'. 

At the end of the day- a nice car part or expensive meal really isn't going to shape your financial future but 800-1000 a month less in rent very well could. 

A colleague and friend wrote a white paper on this exact topic called, 'Diversification Means Always Having To Say You’re Sorry.' The premise of the paper is very basic, don't put all your eggs in one basket and while it sounds very simple and rudimentary, most investors are not diversified. 

Being truly diversified means that there almost always will be a part of your portfolio that is under performing. And if every piece of your portfolio... stocks, bonds, Real estate, commodities ect. are all performing, then you are either a genius, lucky or just not properly diversified. 

Hi all,

I recently acquired a second duplex and would like expand my network of contacts and build out a list of reliable general contractors, plumbers, electricians, and HVAC specialist. If anyone know's someone looking for more business and would service Manchester, Ct- please let me know. 

Thank you, 

@Karen F. I am interested in these properties- please reach out at your earliest convienence with more info relating to them- thanks!