All Forum Posts by: Paul Bowers

Seems like it would be a lot less risky to try to improve a single house in a great neighborhood than to count on the "revitalization fairy" to come in and make a whole area of the city better.

Do you really need him at all? It sounds like you're looking at $35-50,000 properties. I would think even if you bought 5 at $50,000 each you could put 40-50% down on each unit which should overcome the credit issues and still be able to retain some of your cash.

Peter T. , only if you're above average!

You say he's not providing 50% of the value. Could you make the deal happen without him? If things go south on the deal and he's solely responsible for the loan I would say he's got pretty fair involvement. Do you have someone else to do it for less than 50%?

@Linda Weygant, thanks for the response.  I closed on my first property in February and I'm about 30 days or so from being ready to move a tenant in.  I am actively starting to seek out my next project. 

I just downloaded the app yesterday. My wife and I were headed out for dinner last night and I saw a for sale by owner sign. Stopped the truck and walked around the property, wrote down the phone number. Then the app asked me if the mileage was personal or business and I wasn't sure what to do.

Buy more inventory!

I'm starting to track my mileage via the Mileage IQ app and wondering whether driving for dollars mileage is deductible.  If so, does that make virtually all my mileage deductible?  I can't remember the last time I drove anywhere that I wasn't scouting for properties, writing down addresses, etc...  Where do you draw the line between just driving and driving for dollars as far as deductibility?

Have you reached out to the 25 people that have looked at the place and asked them? Just ask " you seemed very interested, what ultimately kept you from proceeding with my apartment?"

What is the flooring you used?