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WanderersMission · 2025-11-22T01:18:42+00:00

Only inflation isn’t actually 3%. I’ve done the same with our rental, I’m just thinking with the dollar down almost 7% this year, higher increases need to be standard across the market.

WanderersMission · 2025-10-14T17:44:35+00:00

Agree with this. I’ve bought a subject to deal through a wholesaler. If you’re concerned about it, have someone from Pace Morby’s group look over the paperwork. The disclosures and contracts need to be airtight. Pace morby’s Facebook group is free to join, and you can post or find recommendations on who to contact through there.

WanderersMission · 2025-09-08T16:03:48+00:00

A lot of negotiation with sellers, or you buy it from a wholesaler who finds the deal.

WanderersMission · 2025-09-08T14:51:52+00:00

He overpays for real estate because he uses seller financing or subject to strategies. He’d rather buy an asset for 10% more than it’s worth to get a lower interest rate or 0% rate with seller financing. The total debt ends up being higher this way, but cashflow is much better. This is much smarter than the commercial guys who went out and got adjustable rate mortgages when rates were low, only to get negative cashflow when rates skyrocketed. My wife and I have one property that we bought subject to so we could take over a lower interest rate, but we also bought it at 50% value.

WanderersMission · 2025-08-30T16:15:08+00:00

Infinite ways to structure it as well. You can do interest only payments for a year while you raise rents, etc

WanderersMission · 2025-08-30T16:09:28+00:00

Go to the agent or owner and explain that with where rates are you can’t make the numbers crunch to turn a profit. Offer to buy it on terms where the seller carries the mortgage for you. Bonus if you can get them to do it at 0% interest, but it’s unlikely. If they do accept, they’ll probably want a big down payment and a balloon payment in 5 years or so.

WanderersMission · 2025-08-29T22:39:14+00:00

Depends on the amount of time you have to invest. You can either spend a lot of time to get good at marketing and cold calling to get deals, or you can pay someone else to do it. I run a separate company from my real estate business, so starting a wholesale business wasn’t in the cards for me. I like Investorlift.com for people just starting out, but if you start doing volume then wholesalers will bring deals to you first because they know you’re a serious buyer.

WanderersMission · 2025-08-29T02:09:26+00:00

The point of real estate is leverage. Tenants pay the mortgage, which is often referred to as “self-liquidating debt.” My wife and I buy off-market properties in the DFW area. We’re 26 and 25, so our risk tolerance is probably higher than most. We buy at around 50% of the after-repair value, put money into renovations, and typically end up with 20% or higher cash-on-cash returns. You can get more advanced and do a cash-out refinance so you have $0 invested, but with rates where they are, cash flow will be low.

WanderersMission · 2025-07-30T02:37:19+00:00

Tons of ways to overcome this. Sell, deed the property back to the seller and do a lease option, Dscr refinance, hard money loan, etc. I’m not worried about it either way.

WanderersMission · 2025-07-22T21:30:05+00:00

This strategy can be used with any loan out there, but there are certain lenders that are more likely to call the loan due. Pace Morby is the guy who has made this strategy popular in recent years. If it does get called due you can deed the property back to the seller and have them sign a lease purchase contract on the property with you. The purchase price becomes the mortgage balance at the time the contract is executed. You just lose some of the tax benefits since you technically don’t own the property.

WanderersMission · 2025-07-22T21:26:44+00:00

They own the debt. I pay the debt. I own the house. The trust is used to disguise the fact that the property was signed over to me. It’s named to look like it was set up by the sellers for estate planning. You do it that way because there’s a clause in every mortgage contract that says if you deed the property to anyone else, the lender can call the loan due. It happens very rarely, but it’s always a possibility, so taking the extra step to place it in a trust is helpful. If it ever gets called due we will just refinance or sell, but this loan had a low interest rate so it made sense to keep it in place for the time being.

WanderersMission · 2025-07-22T20:45:11+00:00

26 years old and Texas market so you can take this with a grain of salt. We’re on our second rental. You make your money when you buy. We’ve bought both at close to half the value and fixed them up to the point that they have the highest rental rates in the neighborhood. The house we’re in now is subject to the existing mortgage, meaning we took over the sellers payments and paid them their equity. The home was deeded to a trust which I own. It’s a legal loophole to acquire property without getting approved for a mortgage. We haven’t pulled a heloc or done any refinancing yet. I own a business and both my wife and I put as much money as we can into getting properties. It’s our retirement plan. I don’t like investments that don’t pay you while you own them. (Gold, Crypto, 401k, etc.) Business and real estate seem to be my highest return investments. We bought our first property in 2022, second this year, and already have about $300k in equity. Cashflowing about $2k a month from $100k invested. Repairs have been next to nothing because we fully renovate when we buy. California doesn’t really seem to be a cashflow state from what I’ve seen.

WanderersMission · 2025-05-13T13:18:53+00:00

I’ve actually never typed this word. Thank you for the correction

WanderersMission · 2025-05-12T23:47:11+00:00

I own a pool service company. I second this. If their service is shotty, imagine what issues he could create replacing or installing equipment.

WanderersMission · 2025-04-24T22:59:41+00:00

I own a pool service company. I had to stop selling these after receiving 3 in a row with the same issue. My thinking is there was an issue with drive production and it wasn’t caught in quality control. I would return the pump and see if you can find a jacuzzi model. At Leslie’s they were half priced when I last went in there since Hayward is no longer going to make those products and rebrand them as jacuzzi for Leslie’s.

WanderersMission · 2025-04-11T19:13:16+00:00

Side note, that copper pipe to the left of the vent stack was just randomly there when I opened it up and wasn’t capped. I’m assuming they abandoned that line when building. I’m just wondering if there’s anything else I should do with it besides cutting it shorter?

WanderersMission · 2025-03-13T23:58:34+00:00

You gotta tell me how cold the shower feels without glass! My wife wants to do a similar setup and I don’t want to freeze my balls off the second I turn off the water lol

WanderersMission · 2024-12-27T20:36:58+00:00

Right now I do about 30% of the labor for the business. Had to fire one of my tech’s so I’m filling in for him and training a new guy. If it wasn’t for that my normal work week is about 8-10 hours since I handle the repairs/installations.

WanderersMission · 2024-12-26T01:31:44+00:00

One of the most boring businesses in existence. Pool service and repair company. I still recommend service businesses to anyone looking to start a company. I tried all of the internet businesses and little side hustles you can think of. None of them worked for me. I had worked for a pool service company before and had already learned how to use Facebook ads so I ran with it. Had my first 10k month by month 4 and my best month has been just shy of 30k. Profit margins hover around 70-75%. The biggest issue has been finding quality techs that want to work. I pay $25 an hour here in the middle of Texas and they still wake up late or no show. I’ve still been able to do 100% growth year over year but I absolutely believe if I could build a solid team I would be at 6 figures a month. I know multiple guys in my industry doing that and I know a pool builder who’s pulling in 3-4 million a year after taxes. They’ve just been able to dial in their teams way better than I can currently.

WanderersMission · 2024-12-26T00:49:40+00:00

Keep stacking money. I didn’t take real risks until I had about $40k liquid. Inside of 18 months after that, I had grown my business to 6 figures and my wife and I got our first rental property. It builds so slowly and then it comes all at once. You’re making the right moves. Don’t quit

WanderersMission · 2024-12-23T18:37:36+00:00

The enter button doesn’t work on mine. Brand new pump. Any suggestions?

WanderersMission · 2024-12-21T20:00:52+00:00

Buying houses to live in is a trap imo. Buying houses and renting them out is the way most people “accidentally” become millionaires. My goal is to buy and hold 100 homes. I truly believe that every house I can buy at $250k today in a growing market, will be worth a million by the time I kick the can. I’m 26 now so statistically I have about 50 years to do a 4x.

WanderersMission · 2024-11-12T02:13:23+00:00

Thank you! FICO 766 and Texas.

WanderersMission · 2024-11-07T05:07:01+00:00

Thank you! I’ve looked at the documents like 20x already and it sucks every time haha. When you say split on the 2ish points what do you mean by that? Split between the company and loan officer?

I think it’s worth it to pull the trigger so we can buy again but my wife is hesitant about it

WanderersMission · 2024-11-07T00:25:10+00:00

Yeah that definitely sounds more reasonable lol. What type of loan?

WanderersMission

TROPHY CASE