This will be my progress thread. I’m getting my head kicked in right now. Feel like I jumped off the boat with cement floaties. I have been meaning to start writing for a while but with things getting worse every day I found it hard to get out of bed. Let alone document my weakness and failures. It’s definitely my problem. I have made a lot of mistakes.
I’ve been a real estate as hobby investor for 12 years. Done mostly live in flips. I’ve bought and sold 4 houses and currently own 12. Started out with one three family in 06. I sold that last year and did a 1031.
In the 1031 I purchased a package of buildings from a slumlord. It’s comprised of 37 stores, apartments and rented rooms. They need a ton of work.
I bought these houses knowing that they were in a depressed area of NYS. I knew the city had a reputation as the “murder capital of New York State. I looked for the worst part of the city. There I found a building that seemed worse than those around it. Luckily for me the owner was easily convinced it was time to sell.
Edit: If this sounds like a complaint that’s not how I mean it. All of my complaints right now would not exist if I had not handled executed better.
I’ve been a real estate as hobby investor for 12 years. Done mostly live in flips. I’ve bought and sold 4 houses and currently own 12. Started out with one three family in 06. I sold that last year and did a 1031.
In the 1031 I purchased a package of buildings from a slumlord. It’s comprised of 37 stores, apartments and rented rooms. They need a ton of work.
I bought these houses knowing that they were in a depressed area of NYS. I knew the city had a reputation as the “murder capital of New York State. I looked for the worst part of the city. There I found a building that seemed worse than those around it. Luckily for me the owner was easily convinced it was time to sell.
Edit: If this sounds like a complaint that’s not how I mean it. All of my complaints right now would not exist if I had not handled executed better.
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