This along with a multitude of other issues ate through every bit of reserves we had before we made much of a dent in these rehabs.

He testified that he used his personal bedroom exclusively forbusiness purposes but later testified that he slept and ate in his bedroom.

That's a LinkedIn ghostwriter strategy to a tee.

The biggest challenge was addressing unforeseen structural issues, which ate into the budget.

The biggest challenge was addressing unforeseen structural issues, which ate into the budget.

We have increased our monthly rent to price ratio from your ~0.75% to 1.1% but the leverage ate up all the extra cash flow (even if the total return is likely higher).You could be a cash buyer and go from your one property to 20 and cash flow 20000/mo but you are still having to buy and manage 20 properties.You can do better on the total cash flow in other markets or rougher neighborhoods, but the story is similar: you are getting an extra ~25-35% in income for 20x the hassle.

But he stuck with me I had a 1 mil credit line that they kept in place so I could make money it was on 90 day extensions for 3 years :( but if they had not done that I would have had to give them the keys back on a few commercial buildings I ate 250k negative cash flow on those buildings to make sure the bank got all their money..

They even showed us a TED Talk video and asked us to write down "Before I die, I will..."

He did about 5 loans and about 6 re-finances within about 8 years made him about 11 x $20,000 = $220,000 for ink and paper while every time I did a re-finance the broker fee ate into my paying off my principal.

Been There Done That & got a tee shirt & don't want to waste my time.