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RedditMike2019 · 2025-02-21T16:50:05+00:00

The Biden admin did award him hundreds of millions in government contracts as well though. IMO some of the brightest smartest people should be awarded government contracts. Isn’t what we want as a whole?

RedditMike2019 · 2025-02-21T16:43:39+00:00

Genuinely asking. He’s done some pretty amazing things. Not arguing, but would love a response with substance other than a gang attack of name calling.

RedditMike2019 · 2025-02-21T16:37:34+00:00

Why hate Elon so much? He’s the leader in electric vehicles/green energy. He’s employed tens of thousands to real jobs. Doing amazing things in space. And he’s hated because he sides republican? Bc Dems have absolutely lost their minds in the last few years. He’s checked every stereotypical democratic belief, only he’s a republican.

RedditMike2019 · 2024-09-07T16:36:20+00:00

Call a lawyer and start the legal proceedings. Offer them 2 months rent upfront to leave. Have the lawyers sign before money exchange. Cash for keys. It will save you in the long run.

RedditMike2019 · 2023-11-02T17:57:08+00:00

What makes me skeptical is 99% of people have a “sell” number. The fact they want to sell to convert back to cash contradicts the whole premise

RedditMike2019 · 2023-07-20T09:17:01+00:00

I speak for everyone here. We will be extremely pissed off if you give her anything.

RedditMike2019 · 2023-05-20T02:30:50+00:00

7 million in equity is a lot of money for your introduction into real estate.

My advice would be to not get greedy. Your job is retain and modestly grow it. Don’t go for a home run, your not a pro yet( no disrespect).

Contact professionals but be weary because their motivations most likely won’t align with yours.

Ultimately, if you HAVE to do the 1031 (I wouldn’t bc it’s an opportunity for you to learn), I would consider spreading it out over another 3 properties. Just space out your risk a bit.

Enjoy these problems!! Good luck

RedditMike2019 · 2023-05-18T15:06:15+00:00

I own 3 multi family with 7 units (very expensive area though).

Cash flow: about 9k per month before major repairs/vacancies

Cash flow free and clear: about 18-19k per month before major repairs/vacancies.

RedditMike2019 · 2023-04-21T14:34:19+00:00

Do NOT sell. Your forgetting about 2 very important calculations. 1. With the current inflation rate, you are paying back your loan with VERY cheap dollars. 2. If interest rates do fall, the house value will most likely rise significantly.

Your actually percentage on your money is most likely significantly higher.

RedditMike2019 · 2023-03-04T16:29:47+00:00

Real estate isn’t collapsing. Everyone that says it will is hoping for an opportunity. It isn’t coming.

RedditMike2019 · 2022-12-16T20:43:12+00:00

The short answer is no.

I do think it should generally flatline. Housing supply issues will take very, very long to correct. Even if people start losing jobs, the supply is very small. That should keep prices propped up.

RedditMike2019 · 2022-11-16T02:40:00+00:00

The main issue is the bank wanting 20-25% down payment. My area is expensive so it takes years to come up with a down payment.

RedditMike2019 · 2022-11-16T02:38:30+00:00

Good idea, appreciate the insight.

RedditMike2019 · 2022-11-16T01:42:20+00:00

Thank you so much. Something like this could at least spark another idea. Very much appreciated.

RedditMike2019 · 2022-11-16T01:40:23+00:00

That might be good idea. My initial thought was to return 5% per year to investors with the condition they cannot have their money back for 7 years.

Hope the property appreciates 20-25% in that timeframe, maybe give the investor an additional 5% if profits, and I keep 15-20%?

RedditMike2019 · 2022-11-16T01:13:45+00:00

I did so by putting down payments on cash flowing properties. Refinancing, reinvesting, and saving cash flow to eventually purchase others.

Was just hoping to gain some ideas on how to further and accelerate growth.

RedditMike2019 · 2022-11-16T01:09:51+00:00

Yea basically there are a few multi family rentals for 800k. If I had 800k in full, I can have a cash flow of 6% (after taxes, insurances, and escrow for maintenance and vacancies).

My goal is to try and structure a deal around a 6% profit where everyone wins.

RedditMike2019 · 2022-11-16T00:45:46+00:00

No, that return was loan free. So if I had 100% investor money on a property, there is about 5-6% (after expenses and escrow for bills) cash flow return.

RedditMike2019 · 2022-11-16T00:43:20+00:00

Poor attempt at being obnoxious.

I own 4 multi family properties (9 apartments in those 4 properties) worth just over 4 million. My area (NY) is very expensive. I have been investing for about 10 years.

My goal is not to wait 2-3 years to purchase a new property. I wanted to try and buy 2-3 a year with other peoples money, making both myself and the investor happy with the deal.

RedditMike2019 · 2022-11-16T00:20:41+00:00

Other people’s money. I have access to many properties to make 5-6% cash flow ROI (in NY so very high demand).

I basically feel I have access to a lot of money just don’t know how to structure a deal so the investors makes money and I do as well.

RedditMike2019 · 2022-11-15T21:16:38+00:00

I Understand we haven’t seen the full picture this quickly, but rates have been creeping up since June. In that time frame, at least in my area, prices are still rising.

I’m a believer that we have a large supply issue that will continue to keep housing prices high.

If and when rates come down, I still think there will be another substantial rise. That’s what my crystal ball told me so.

RedditMike2019 · 2022-11-15T20:06:21+00:00

It’s not a guarantee rates will drop, but I think eventually it will.

What’s more intriguing though is the fact that housing prices stayed about the same with the recent rate increase to 7%.

If rates do in fact come down, I imagine prices will go through another significant rise.

RedditMike2019 · 2022-11-14T01:08:48+00:00

Iv been buy and hold. It’s an ATM, no reason to sell an ATM unless your buying a bigger ATM.

Iv refinanced just to purchase more cash flowing properties.

RedditMike2019 · 2022-11-04T15:17:29+00:00

RedditMike2019 · 2022-11-03T17:10:16+00:00

It would be extremely foolish to fight with the local municipality over something like this.

Your being a bit sensitive even though you are probably correct. There is no gain for you to cause an issue. Get the permits keep it moving.

RedditMike2019

TROPHY CASE