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OldTerrapin

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On 3/21/2024 at 1:13 PM, golfaddict1 said:

Aha, so that’s your meat and potatoes.  👍🏻   Sounds like biz is going well.  
 

I wasn’t sure if you were a realtor, which is why I wasn’t sure what your reaction would be on the commission adjustment news that just came out that I shared with you the other day.  

I’d like to take advantage of a good friend’s talent of handyman anything, once I reach the Roth IRA withdrawal age.   

We both would likely benefit with a flip.  After one who knows?  
I’m an Abby Normal with research and he’s definitely in the know with regards to seeing cost projections with a needed TLC home review.  

A friend in NJ owns a small Apt complex conversion for years and has done well.  #Randolph for the NJ folks.  Nice town.  
For a public school in NJ, they play good football.  
 

Yes I really do recommend it. I pretty much only flipped for the first 5 or so years of my career but when the volume ramps up it is pretty tough to make sure you’re as diligent as you were when you were going one at a time. I got into long term rentals around 2015-2016 and now sit just shy of 80 units, most are SFH and I have a great property management company that does the leg work. For a nominal fee of course Lol. It always scared me to be over-leveraged but it really is the quick buck in flipping vs the long game in renting. I’ve made and lost money doing both. Despite the headache I couldn't imagine doing anything else.

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2 hours ago, Fred said:

Define small and big.  I've got .55 acres and consider my lot small.  My front year is bigger than your back yard.  I will admit, my size lots have gotten harder to find as growth continues. 2,800 sq ft ranch with an 800 sq ft carriage house I built as an in-law-suite for my older sister.  Plenty big for my wife and me.

I'm surprised you don't have some type of shade cover.

Can’t really give you a definition of what is considered bigger or smaller because in the Raleigh area, was just going off what the realtor told me and her baseline for that area. She was a chick and a realtor, so definitely some room for her to be off for sure 😂

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26 minutes ago, HurricaneNick said:

Yes I really do recommend it. I pretty much only flipped for the first 5 or so years of my career but when the volume ramps up it is pretty tough to make sure you’re as diligent as you were when you were going one at a time. I got into long term rentals around 2015-2016 and now sit just shy of 80 units, most are SFH and I have a great property management company that does the leg work. For a nominal fee of course Lol. It always scared me to be over-leveraged but it really is the quick buck in flipping vs the long game in renting. I’ve made and lost money doing both. Despite the headache I couldn't imagine doing anything else.

Congrats again on your biz and it’s sure ideal having a properly mgt company on site to assist with 80 properties.    

I’ve been in the vacation rental biz since 98 and know how important a quality property mgt company is and also just a one person key holder checking in client.  
Well worth the fee.  

We’ve had owners contracted switch Prop mgt companies multiple times in FL, for example.   
One Orlando partner was an asshole handling bookings after 9/11.  Some clients wanted to change dates or just cancel.   That was taboo to this Orlando partner from the UK.   We ended the contract right away.  

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19 hours ago, HurricaneNick said:

Yes I really do recommend it. I pretty much only flipped for the first 5 or so years of my career but when the volume ramps up it is pretty tough to make sure you’re as diligent as you were when you were going one at a time. I got into long term rentals around 2015-2016 and now sit just shy of 80 units, most are SFH and I have a great property management company that does the leg work. For a nominal fee of course Lol. It always scared me to be over-leveraged but it really is the quick buck in flipping vs the long game in renting. I’ve made and lost money doing both. Despite the headache I couldn't imagine doing anything else.

@golfaddict1 @Cossacks @Fred @FreeBird  @HooverOutlaw I can 100% say Saint Augustine has some diamonds in the rough and no ones cashing in on it Y E T...

Its most certainly high up on the list now

I gotta check out Huntsville,AL Saint Mary's,GA one more time and Dacula,GA before I make my official decision.

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29 minutes ago, TheMaximumHornetSting said:

@golfaddict1 @Cossacks @Fred @FreeBird  @HooverOutlaw I can 100% say Saint Augustine has some diamonds in the rough and no ones cashing in on it Y E T...

Its most certainly high up on the list now

I gotta check out Huntsville,AL Saint Mary's,GA one more time and Dacula,GA before I make my official decision.

What’s the biggest factor in the move? 

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24 minutes ago, HurricaneNick said:

What’s the biggest factor in the move? 

I travel for work so thats not much a factor as long as I have an office within a 100 mile radius of where I live. 

But outside of that: 

Affordability

Healthcare 

Shit to do... 

I don't wanna live anywhere like Tifton again... 

Far from everything... nearest source of entertainment was Valdosta at an hour away... 

If you feeling ballsy Albany,GA... with a crime rate comparable to Houston,TX but not even 1/4th the size... 

I'm also back in school now finishing what I started... 

I just don't wanna be middle of nowhere rural again... NEVER A FUCKING GAIN... 

 

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59 minutes ago, TheMaximumHornetSting said:

@golfaddict1 @Cossacks @Fred @FreeBird  @HooverOutlaw I can 100% say Saint Augustine has some diamonds in the rough and no ones cashing in on it Y E T...

Its most certainly high up on the list now

I gotta check out Huntsville,AL Saint Mary's,GA one more time and Dacula,GA before I make my official decision.

Glad to hear.  

You are doing solid research with multiple options to choose from.   

Keep up the good work and update us when each choice bows out.  :) 
🥁 when down to 2.  😂 

You're young and can always choose to live in several choices above.  

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