All Forum Posts by: Terrell Garren

Go M2M and you can make contract changes within 30 days vs a year. Tenants will move when they need to move. Long term leases mainly lock the owner in. 

Someone made a poor tenant selection. M2M rental agreements all day long. Best thing I've learned in 14 years. 

Quote from @John O'Leary:

... Wholesalers are skilled at identifying and negotiating deals for distressed properties, offering a valuable service to both sellers and buyers....

Taking advantage of people that are in a bad situation and are unaware of better options to sell a property. 

Quote from @Account Closed:

The long-awaited audiobook for @pacejordanmorby's Wall Street Journal bestseller, Wealth without Cash, is now available! 

P.S. YES, it comes with the bonus content! 🤗 

How many people have long-waited? 

I have no STR ownership experience. I do have a wife that vehemently prefers a king whenever she books our lodging. I don't get to make those decisions as Motel 6 meets my sheltering needs.

Well, I can pay all my expenses and have money left over to play with motorcycles. I'm thinking yes. 

Quote from @Jill Addison:

I always think about a guy I know who's in his 90s and has something like 90 doors. He never even really set out to be a big real estate investor, he just picked up a property every year. Just that consistent long-term effort is a lot like dollar cost averaging in the stock market. You'll get certain advantages and disadvantages at every stage, but as long as you just keep at it consistently over years, it will be worth it, as long as you're buying deals where the numbers make sense. Real estate is a long-term game. 

 Pure wisdom. 

Quote from @Charles Carillo:

@Brandon Brown

One of the many benefits of having a property manager is that they make non-emotional decisions about tenants, which is very difficult when you are self-managing. 

That's not factual. Generally, a PM's interest is getting a property rented.  A property owner's interest is getting their property rented to the best possible tenant.  I often see tenant's selected by PMs that I would not even show a property to. 

It's dead, It's not dead. Blah, blah, blah. Meaningless debate.  It was never a litmus test, it's just a quick ballpark calculation to consider along with many other metrics.  In good times, you might find 2%. In challenging times, you might settle for .5.  

BTW, it's not dead for investors that know how to apply it. 

You can find a 1% on a class C+ or B tax sale or auction that needs $30K+ in sweat equity. I have not found a 1% on the MLS in maybe 10 years. You have to take smart risks to make money. Investing off the MLS is generally not a money maker.