Things have absolutely exploded around here! I am now looking at 11 total properties, and that's in addition to the 4 apartment buildings that we're acquiring at the end of the month. That's the way it seems to work with real estate investing. All of a sudden, a bunch of potential deals fall in your lap that weren't there yesterday. Even though all of these deals could be great deals, I don't yet know whether any or all of these deals will occur. The good news is that I'll know about all of them by next Wednesday.
However, I do know that I can't do all of these deals simultaneously. Because of that, I've already called a relative who is also an investor. This relative has a bigger rental operation than I do and could take some of these deals if several look good.
This is the greatest number of serious deals that I've had on the line at one time. About a year ago, I had 5 deals all come together at once. They were simply too much for me to do at the same time, and I ended up wholesaling two of them to other investors. If more than 2 or 3 of these deals actually occur, we'll probably wholesale some of them this time also. That would be great for me, because it would provide some extra cash for the deals that we do keep.
Not only was there a lot of excitement today with all these deals, but today was one of my favorite days - RENT DAY. Starting today, and for the next 3 days, I will be collecting the rents and making several trips to the bank. About half of my portfolio are low income tenants who pay with cash. I try not to carry a lot of cash around, so I make a trip to the bank at least once each day.
Tomorrow, more rent will be collected and I'll also be looking at more of those 11 deals. I will be taking pictures of each property to e-mail to my relative so that we can come up with a strategy for all of these properties. I'll keep you posted on our progress!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment