13 COMMENTS

  1. So basically, what’s the chance of an individual investor beating the market consistently. I know this sounds a bit dull but I would like to know if I should learn investing or let somebody else (more capable like a FA) do it for me?

    • Actually pretty high if you leverage your money with a mortgage. The average house appreciates 3-5 percent per year. Put 20% down and the return is multiplied by 5. This doesn’t include things like tax benefits, cash flow, and principal pay down. This is pretty extraordinary compared to the 6-8% you could get long-term (not even guaranteed) in the stock market.

  2. I’m finishing up a rehab of a 17 unit complex in Jacksonville Florida and I faced a lot of similar issues. Overall, I like a lot of the things these guys have done – upgraded kitchen cabinets and pulls, nice subway tile backsplash, thicker LVF flooring, nicer floating bathroom vanity, zeroscaping and graphics on the outside of the building. That said, I agree 100% with the other comments regarding the electrical issue. In MHO, big mistake. Definitely should have upgraded it rather than give up an oven and downgrading the other appliances. Not even a microwave oven?? Yikes! Hopefully they won’t have problems when tenants bring all of their electronics into the space. And, if upgrading the electrical really wasn’t an option, I’d certainly sacrifice the dishwasher before I would jettison the oven. And the ship lap wall made of plywood?? For his target customer, I’d have spent the extra $100 for the real deal, or at least a higher grade of plywood.

    If you want a profitable investment, projects like this always have trade offs. However, I always err on over improving kitchen and baths, and saving elsewhere. So no oven of any type would have been a non-starter for me, but overall I think these guys did a great job and I’m sure they’ll make a good return.

  3. After the final building is approved and the city inspectors are out of your way, then put in the ovens. But you didn’t hear that from me

  4. You can remove that excess teflon tape from the shower arm. You won’t create a leak because all the teflon that is working to seal the threads are inside that joint. Therefore, if you see it you can remove it

  5. 29:10 That’s a very professional looking spreadsheet; can measure up to Wall Street lvl standards. Did Terrance make it himself?

  6. Ummm….a female wants to bake stuff. Geesh…in this current climate or any other who wants to go out to eat every night? I want to have thr option of cooking a nice meal. I rarely use a microwave. Im interested in revisiting this property to see how it goes. Maybe im wrong. I always want people to win. Sooo I hope it all goes well.

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