Hey
Watch your step, dude. I may know 10 times the stuff you do but I also know where a lot of the pitfalls are too. If you want to do this together, than yeah I'm all for it. But we probably need to spend a lot of face time together. You always give me a charge to get off my ass (which is a bit slimmer these days thanks to your challenging me) but you need me to give you a bit of caution.
Right now, I'm not interested in income properties. One day I will probably but right now I just have NO interest in being a landlord. I'd rather find the ugly duckling house (preferrably one with a fucked up slab), fix it then sell it. To do that successfully you need good margins and I can tell you that buying a $100K house for $95K isn't a good margin. And what happens if he agrees? Do you have a hard money lender set up?
If you haven't yet, you need to get your ducks in a row before you go jumping into this pond. Next time you come to SA try to make it an overnight trip and we'll talk about it some more.
I did upper body this morning. A pretty good workout, too. Are you back on the diet?
Right now, I'm not interested in income properties. One day I will probably but right now I just have NO interest in being a landlord. I'd rather find the ugly duckling house (preferrably one with a fucked up slab), fix it then sell it. To do that successfully you need good margins and I can tell you that buying a $100K house for $95K isn't a good margin. And what happens if he agrees? Do you have a hard money lender set up?
If you haven't yet, you need to get your ducks in a row before you go jumping into this pond. Next time you come to SA try to make it an overnight trip and we'll talk about it some more.
I did upper body this morning. A pretty good workout, too. Are you back on the diet?
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