All Forum Posts by: Sam Hopkins

A safe tenant is a happy tenant. How much damage could two screws do?

I could not even imagine putting in a tiled shower with renters. That would be crazy. They can barely clean surrounds.

@Megan Kline I aim for 6% return on the money I invested, whether or not there is cash flow. Too many people worry about cash flow. If you are able to put $1,000 a month into a savings account, then you can take that same $1,000 and get $2,000 in equity, or 50% return on your money.

@Randy Janoe looks like the study states that fraud is the most often reason corporations are pierced. I guess the take away is run a legitimate company.

Originally posted by @Karen O.:

Originally posted by @Sam Hopkins:

@Laura Williams you’re paying $20k a year for $163k a year. That seems good to me. Where else does someone hand you $163k and you hand them $20k?

Can't think of it that way, @Sam Hopkins.  Remember, the 20k is after the 163k rental income has been exhausted to pay for these properties.  

Still not getting you. Sure there’s no cash flow, but they are making equity for their $20k. I’m not sure why everyone is hung up in cash flow? Sure in a perfect world it’d be nice to have equity and cash flow. The fact remains though, for every $1 they put in they make $8. But let’s say they need cash flow,  how much in commissions and taxes are they going to lose selling $10m+ in properties? 

@Laura Williams you’re paying $20k a year for $163k a year. That seems good to me. Where else does someone hand you $163k and you hand them $20k?

@Josh C. I bid 30% and win all the time. What you have to do is give something else. My offer is cash wIth no inspections/contingencies.

@Zach Andis you’d have to check local laws on burning. I stand by the “Give the renter/buyer something to brag to their friends about” strategy.

@Martin Neal I say you scored. That $13k will be paid off in under a year. It’s about getting the property and buIlding an empire, not getting every penny out on day one.

@Alex Varner check your state laws. That is illegal here unless that 50% contains special order things like cabinets. Do a Google search for “home improvement act YOUR STATE.”