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Two Comma Investor
2.4K posts

Two Comma Investor
@2CommaInvestor
Investor & Small Business Owner. Talking investment ideas, passive income, and business philosophy in general. Proud self made millionaire.
Las Vegas, NV Katılım Temmuz 2019
1.4K Takip Edilen929 Takipçiler

@leo_szac Not familiar with the market, clearly. 55k/ unit collecting almost 10k/ year in rent seems fantastic to me.
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@2CommaInvestor it's not cheap. It needs over 250k in reno, at least. This is in CLE
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20-unit in Garfield Heights. On market 41 days.
Ask: $860,000
Rents: avg $720/unit (market: $875)
Current NOI: $62,000
Pro forma NOI at market rents: $91,000
CapEx: 12 of 20 units need kitchen updates. Exterior is solid.
Underwrote at $740k. Seller wants $830k.
We're talking. Nothing agreed. That $90k gap is normal in this market right now.
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Found a bank on DirtCheapBanks.com that has been open since 1885, never borrowed a dollar, owns its real estate, has zero classified loans, and trades at half of what it is worth. The CEO is 77 with no heir and a fat CIC payment waiting. The acquisition window opens in 22 months.

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@2CommaInvestor Good morning to you too - when is SCHD buying time? 😉
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@2CommaInvestor Day 75 of straight daily SCHD adds? Respect. That every-single-day discipline is what separates folks who talk about compounding from the ones actually living it—quietly stacking shares while the world chases the next shiny thing.
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