All Forum Posts by: Terrell Garren

"You're not saving the interest since you're not paying it."  

I am not smart enough to understand that. I do understand being debt free. 

Bah Humbug!  I provide maintained properties at reasonable rates, and I answer the mail when tenants contact me. I'm guessing my average tenant has been with me for 5 years.  A few over 10 years.  I will have the HVAC and garage door repaired immediately. I'm not sending holiday cards and candy. 

I am fine with the seller's agent acting as a dual agent.  I make my own offer price with no contingencies, close in 7 days, offer good for 12 hours.  The seller's agent desire for a frictionless sell with full commission represents my interests just fine. 

SFHs are like children.  The more you have to take care of, the less time and energy you have to create more. I am at 26 and 30 is likely the right # for me.  30 will cash flow life and provide a fulfilling part time job of around 10 hours per week.  

If it were spring/summer, the market would be telling you the rent is too high.  Winter is a slow time to rent. In spring/summer. I will get 50 inquires in 2 days for a new listing and sign an agreement within a week.  In winter, I will get 10 inquires in a week and it might take a month to sign.  I would advise patience. 

I bought and rehab'ed my first 20 of so SFHs 2008-2019.  Competition pushed purchase prices too high for that a few years ago.  I made new construction work by getting my GC license and taking the cost out of the equation.  I could not make the #s work paying a GC to build new.  

Sure you do. Because your time is way more valuable than those frequently interrupted by your lazy practices. At least the guy calling me from Djibouti to scam me in a bank transaction is making a personal time commitment in his venture. 

My rule of thumb -

If net wealth < $1M, then $2M umbrella insurance policy

If net wealth > $1M, the $2M umbrella policy and LLC.

P.S. 26 SFHs, 1 LLC, 1 business checking account, 1 spreadsheet, 1 old Ford Ranger, Zillow, apartments.com, 1 cell phone with 30+ #s on speed dial. Simple is good. Life is good.

 Yes. Would not have it any other way.

My property manager selects great tenants, is trustworthy, uses effective contractors for repairs, and deals with problems immediately. He also takes frequent random days/weeks off, starts work at 10am, takes a 2-hour lunch/gym break, stops work at 3pm, spends more time playing than working.  He is also free, so there is that.