Real Estate Investors?

Can I see the pictures off this flip ?

 

Heres the 2nd one I was referring to. I did all the finish work, minus the hardwood, paint, spackle. I did the rough framing and electric also. Everything else I was able to hire a sub.

https://www.redfin.com/PA/Philadelphia/2925-W-Thompson-St-19121/home/38788266

This is the before pics of Thompson St. https://drive.google.com/folderview?id=0B9b2XgrCUKc-dmVPc3Axc0RUSUk

I used my portion of the profits to buy myself an owner occupied triplex (3 family house) in philadelphia. Used an FHA loan, 16k out of pocket. ALMOST living for free. The rental income pays all but $30 of the mortgage. I'm rehabbing the apartment I'm living in. It really sucks, but as a single 34 year old, it will do for now. this pic is the wall between the bedroom and bathroom. Everything is going to be rewired. I had extra SER wire laying around, so I put the sub-panel in the unit, instead of running all circuits to the basement. This house is setup as a 3 story building with one apartment on each floor. I'm living on the second floor.

As a rental, this one won't get the same type of finishes the flips did. No hardwood, but rather a good vinyl floor I've used in my parents rentals. Standard cabinets, actually I'll reuse what's there and paint them. I'm really only replacing the subfloor, rewiring, and making some cosmetic changes. Mostly all new plumbing.

 

My father left me 4 acres down by the train tracks. I remember being a kid and getting dropped off everyday with a mower, gas can and a bag lunch till it was clear of weeds and grass. Fast forward 30 years and i sold it and did a 1031 exchange. I bought a Jack in the box in San Diego 2 miles from the corporate office with a 20 year lease. I work in real estate as well. If I can do 1 more of these I'd consider retirement.

 

I can’t get excited about real estate. The property tax man always has his hand in your pocket. It’s also not liquid and expensive to buy and sell. Stocks and bonds seem way easier for as much or more gain.

 

I just evicted my first floor tenant in my triplex which I live in. They're court ordered to leave by June 30. The court date was May 21.

 

Oh, then it sounds like you're well on your way to having them out!

 

I take a hard pass on real estate investing. I have zero interest in being a landlord. Plus I’m too young to afford it at this point.
Its a good investment though.

 

It's all about good screening. I inherited the tenants that I had to evict.

 

Not sure. I really doubt it. I saw through the window that all their stuff was still there. They got the electric shutoff by the power company last week for non payment. I just know I'll have to schedule an lockout with the sheriff. This is just the type of people they are... real ghetto trash.

 

if you can, get into flipping.

 

Wife and I have one rental and are working on our fixer upper. Hoping to get another project home soon and get this one rented. Trying to understand the financing game or how people acquire so many homes. I could have several rented in a week like my current rental if I had them. Big hurdle is acquiring the home. Sounds like you guys are killing it in the real estate game!