 OH BOY!! (by cimba [WI]) Dec 17, 2017 12:04 AM
 OH BOY!! (by AllyM [NJ]) Dec 17, 2017 4:35 AM
OH BOY!! (by James [GA]) Dec 17, 2017 4:43 AM
OH BOY!! (by Smokowna [MD]) Dec 17, 2017 4:51 AM
OH BOY!! (by J [IN]) Dec 17, 2017 5:06 AM
OH BOY!! (by Vee [OH]) Dec 17, 2017 5:11 AM
OH BOY!! (by RB [MI]) Dec 17, 2017 5:48 AM
OH BOY!! (by Andrew [ON]) Dec 17, 2017 6:57 AM
OH BOY!! (by Busy, busy, busy [WI]) Dec 17, 2017 8:17 AM
OH BOY!! (by Salernitana [CA]) Dec 17, 2017 9:13 AM
OH BOY!! (by tbird [KY]) Dec 17, 2017 1:38 PM
OH BOY!! (by tbird [KY]) Dec 17, 2017 1:38 PM
OH BOY!! (by tbird [KY]) Dec 17, 2017 1:38 PM
OH BOY!! (by tbird [KY]) Dec 17, 2017 1:38 PM
OH BOY!! (by Mickie [OH]) Dec 18, 2017 6:08 PM
OH BOY!! (by Mickie [OH]) Dec 18, 2017 6:08 PM
OH BOY!! (by cimba [WI]) Posted on: Dec 17, 2017 12:04 AM
Message:
Well boys and gals its been a while since I've posted... Busier than a two peckered billy goat...
In the last year I bought a 2 br lannon stone for 31k that I was going to flip but decided to rent it instead and am getting 11 hunny plus water. Bought a crib across the street from this one when a neighbor walked over and asked me if I wanted to buy his crib... Bought another 2 br for 35k and am renting it for 975 plus water... bought a 4 br flip for 65k that I am a week away from listing that will be listed at 145k... Bought a 3 br ranch from my hvac guy for 68k that I will be flipping at 139k... Bought a townhouse for 81k that I am flipping for 170k... Bought a 3 br ranch that needs very minimal work (yesterday) for 65k and should list around 119k.. I am also doing a flip for a friend turning his 3 br 1.5 bath into a 3 br 2 bath with rec/br in basement...
Everything looks good but heres the problem... Ever since I established my 360k LOC... I've burned through every last penny of it buying all these cribs and working on 10 of them at once... I've been paying off my CC about 10k every other week and am currently at 29k bal... I just received about 70 water bills and about 70 tax bills... I had a lil over 100k in the bank 3 days ago now I have about 21k with all these bills and will owe about 40k in taxes for cribs free and clear etc...
I have tiled about 10 kitchens/baths/backsplashes etc... in the last few weeks... BUSY BUSY BUSY... Besides all this nonsense going on I have had some complete rehab makeovers on some of my other cribs or apts that opened...
I am currently running about 170 units and needless to say there is no end in sight and I am completely addicted to this stuff... There really is no end in sight... There have been quite a few GREAT stories to tell but I simply dont have time.... I cannot sleep tonight thinking about all this so that is why i'm posting at 2am:-)
Anyway, I have almost a half mill of cribs to sell in the next year so I may have to slow it down, pay off the LOC and only buy FLIPS... Tenants are getting on my nurves more than every lately... I have decided to not work with the entitled any more either... NO MORE SECTION 8... I am retaining the ones I have but will not accept it anymore... Too many years of bending over backwards to make my cribs perfect to get destroyed... Just a choice boys and gals...
With all this rambling said... Buy low sell high and happy New Year to ALL from cimba and fefe....
Peace out!!!
--172.3.xxx.xxx |
OH BOY!! (by AllyM [NJ]) Posted on: Dec 17, 2017 4:35 AM
Message:
Nice to hear from you. Someone was just asking about you. That's a lot of stress. Merry Christmas to you. --73.33.xxx.xxx |
OH BOY!! (by James [GA]) Posted on: Dec 17, 2017 4:43 AM
Message:
Brother - Do you make it to the conventions?
Merry christmas! --62.216.xxx.xxx |
OH BOY!! (by Smokowna [MD]) Posted on: Dec 17, 2017 4:51 AM
Message:
Yes yes yes.....but you didn't get to the part about eating? You left out the food. Stories are no good without the food part.
Stay busy, stay well, and get something to eat
Merry Christmas --74.96.xxx.xxx |
OH BOY!! (by J [IN]) Posted on: Dec 17, 2017 5:06 AM
Message:
Cimba, I was wondering if you were still at it. I feel your pain on the cash situation and you will get through it. Never understood the “can’t buy groceries with equity” till it happened to me. The 3 bed 2 ba I have been working on is almost ready to rent and I am currently looking for my next project. The easy to find deals in my area have went away, got any pointers on how currently you have been finding the best deals? Make sure you remember to make time for you and fefe! --67.236.xxx.xxx |
OH BOY!! (by Vee [OH]) Posted on: Dec 17, 2017 5:11 AM
Message:
Plenty must be shopping or working on her new place - she is the one to remind us about lunch! Getting the sec8 tenny to the sec8 buildings is a good idea so they can chant thru the playground about -that case worker is your employee- and -vote for this n that to keep or houses alive-, sorry to hear your hvac guy lost his place, hopefully you have aimed him to one of your economy shacks. No clue yet on where the convention will be this year but while you are feasting on sawdust, cement powder and drywall mud over the holidays (I do the same thing, my creativity comes alive from cranberrys, anise cookies and apple pie) stop and take feefee to go look at the lights. Be safe and speedy on the holidays. --76.188.xxx.xx |
OH BOY!! (by RB [MI]) Posted on: Dec 17, 2017 5:48 AM
Message:
I can relate.
A lot going on there.
Your Age and Health will shape your future.
It works until it dont. --71.13.xx.xxx |
OH BOY!! (by Andrew [ON]) Posted on: Dec 17, 2017 6:57 AM
Message:
Im envious of those prices and returns.
You are able to buy houses for what it costs to buy a single parking space in Toronto. --70.30.xx.xxx |
OH BOY!! (by Busy, busy, busy [WI]) Posted on: Dec 17, 2017 8:17 AM
Message:
I think I need to change my screen name *grin* it's a local expression.
I envy you your flip team! There are such good opportunities in that area right now, specially if you go south a bit. Between Amazon, Uline, and Foxconn, that region could be cleaned up!
I couldn't imagine dealing with Section 8 in our fair city. Not for me. I like my MTM, with my heavy train to retain program. But, of course, all that time spent training and developing keeps me tied up from expanding, so I'll always be very very small time.
Good to see you on here. I saw we both had some trouble in the neighborhood about the same time, read on the city emails- landlords were being targeted. Hopefully that has stopped.
--172.58.xxx.xx |
OH BOY!! (by Salernitana [CA]) Posted on: Dec 17, 2017 9:13 AM
Message:
Yay, it is so good to hear your amazing news, and I was just thnking about you! I was thinking about how you and fefe have such amazing design skills and how you would put up pictures of your fabulously brilliant tile work. I was thinking that you should be buying and flipping properties, and voila, it's what you're doing and doing it well.
As for tenants, I feel your pain, but with your personality, you could continue to flip as long as it works and then just as you mentioned keep the good tenants that you like.
As for bills and taxes, I too understand how you feel. However, again, you're so talented and have such a charismatic spirit, so I think that as long as the housing economy holds up, you'll be able to grow a comfortable nest egg when the profits come in. Thanks for sharing how you're doing, and best of luck to you and fefe with all of your projects now and in 2018 and Happy Holidays. --71.202.xx.xxx |
OH BOY!! (by tbird [KY]) Posted on: Dec 17, 2017 1:38 PM
Message:
Jealous of those rent to purchase price ratios...
--98.93.xx.xx |
OH BOY!! (by tbird [KY]) Posted on: Dec 17, 2017 1:38 PM
Message:
Jealous of those rent to purchase price ratios...
--98.93.xx.xx |
OH BOY!! (by tbird [KY]) Posted on: Dec 17, 2017 1:38 PM
Message:
Jealous of those rent to purchase price ratios...
--98.93.xx.xx |
OH BOY!! (by tbird [KY]) Posted on: Dec 17, 2017 1:38 PM
Message:
Jealous of those rent to purchase price ratios...
--98.93.xx.xx |
OH BOY!! (by Mickie [OH]) Posted on: Dec 18, 2017 6:08 PM
Message:
Cimba dude, You're awesome and make some of us think about doing a flip or two to make the cash buy easier. --45.58.xx.xxx |
OH BOY!! (by Mickie [OH]) Posted on: Dec 18, 2017 6:08 PM
Message:
Cimba dude, You're awesome and make some of us think about doing a flip or two to make the cash buy easier. --45.58.xx.xxx |
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