Path to a 500 wilks

[Brandaddy]

Around a rack at about eye level, or you could probably just use a cable machine with a rope attachment I suppose. Just helps open up your shoulder by trying to cue yourself to keep your hands directly overhead the whole time. It's a lot more of a shoulder workout than you would think trying to keep them pulled back to parallel with your body for a good 20 reps.

 

[Brandaddy]

I suppose since most of you know I'm a real estate investor, I'll post up a couple pictures of some of our recent crackhouse flips. I hate going into these places but the transformations afterwards are pretty cool

 

[Brandaddy]

This one was called "The Meth house" by the town. Lol. It was a condemned building I picked up for $5,000 cash.

 

[Brandaddy]

 

[Brandaddy]

 

[Brandaddy]

 

[Worf]

Crack smokers gotta live somewhere

 

[MindlessWork]

Nice stuff there @Brandaddy....you should easily recoup the cost and make some money.

 

[Brandaddy]

Nice stuff there @Brandaddy....you should easily recoup the cost and make some money.

The one is actually finished and we already have an accepted offer on it. We were all in at roughly 55k and the accepted offer was for 109k w/o an inspection. The other one I'm guessing will probably sell closer to 120k, but we're all in at roughly 70k on this one. The meth house we're just wrapping up. Sitting at just over 25k, and will probably sell it for about 95k. So they do alright in terms of turning a profit in the end, just a lot of work. These crackheads always try to do their own electrical and plumbing work and it's typically not even close to code if it even functions. Lol

 

[Eman]

View attachment 118742

This one was called "The Meth house" by the town. Lol. It was a condemned building I picked up for $5,000 cash.

Hell, it doesn't look that bad for being condemned - I guess when drugs are involved it's pretty easily condemned by the city. In certain locations, that'd be a hell of a good way to pick up houses... They probably have some of the drywall removal started for you.

 

[Brandaddy]

Here are some interior before pictures of the meth house. Lol. I have to give the woman credit, she put on some gloves and went to town on this place with me. Ha. They actually shut the utilities off on this place and these guys locked themselves inside and we're shitting in the toilets that couldn't flush and after that clogged they started using the kitchen sink..... Haha

 

[MindlessWork]

Hell, it doesn't look that bad for being condemned - I guess when drugs are involved it's pretty easily condemned by the city. In certain locations, that'd be a hell of a good way to pick up houses... They probably have some of the drywall removal started for you.

Or even the doors, windows and fixtures...

 

[MindlessWork]

Here are some interior before pictures of the meth house. Lol. I have to give the woman credit, she put on some gloves and went to town on this place with me. Ha. They actually shut the utilities off on this place and these guys locked themselves inside and we're shitting in the toilets that couldn't flush and after that clogged they started using the kitchen sink..... HahaView attachment 118751 View attachment 118752 View attachment 118753

Now that's reminded me of my college days binge weed smoking and drinking as I've crashed and burned in places just as dumpy as that. Slept on moldy carpet or furniture even

One time was oblivious to how cold it was as there's broken windows even.

 

[Brandaddy]

Weight today was 182.4

Workout was,

10x3 "speed" bench @ 235lbs
3x8 floor press
4x15 tricep pushdowns
4x15 weighted crunches
4x5 pallof press

Felt kind of weird to use 235lbs for triples. Lol.

 

[Brandaddy]

Off topic. But kind of pumped. Setting up a 1031 for some vacant r3 land. I just got an accepted offer on a triplex that we bought last year. Excited to try and tackle my first development.

 

[Perrin Aybara]

Off topic. But kind of pumped. Setting up a 1031 for some vacant r3 land. I just got an accepted offer on a triplex that we bought last year. Excited to try and tackle my first development.

I don't know what most of that means, but congrats.

 

[Worf]

I don't know what most of that means, but congrats.

my thoughts exactly

 

[Eman]

Off topic. But kind of pumped. Setting up a 1031 for some vacant r3 land. I just got an accepted offer on a triplex that we bought last year. Excited to try and tackle my first development.

There's a local guy that does this, he actually bought my grandfather's house. He just keeps rolling money over and over, it seemed like an interesting way to make a living but it seemed like he actually had trouble closing sometimes and, due to time limits, it seemed like a stressful career to have.

I'm in a field that's apart of the construction industry, kind of a niche. I would like to get into more of what you're doing down the road since I have a decent setup to do it on the side - only thing really holding me back is manpower.

 

[Brandaddy]

There's a local guy that does this, he actually bought my grandfather's house. He just keeps rolling money over and over, it seemed like an interesting way to make a living but it seemed like he actually had trouble closing sometimes and, due to time limits, it seemed like a stressful career to have.

I'm in a field that's apart of the construction industry, kind of a niche. I would like to get into more of what you're doing down the road since I have a decent setup to do it on the side - only thing really holding me back is manpower.

Yeah, trying to 1031 single family flips would be a huge pain in the ass. I guess technically I'm doing it at the moment and it isn't too bad. I'm doing it a little different though. I flipped all of my properties by cash out refinancing them. So I basically got all of my money back without having to pay any taxes. Now that I have a handful of less desirable small multifamilies and single families I can start selling them and 1031 the equity into the development and then just refinance that to get my money back without paying taxes. I guess it sounds like a lot of dicking around, but it's all going to be spread over about a year, so it's actually pretty laid-back.

 

[Eman]

Yeah, trying to 1031 single family flips would be a huge pain in the ass. I guess technically I'm doing it at the moment and it isn't too bad. I'm doing it a little different though. I flipped all of my properties by cash out refinancing them. So I basically got all of my money back without having to pay any taxes. Now that I have a handful of less desirable small multifamilies and single families I can start selling them and 1031 the equity into the development and then just refinance that to get my money back without paying taxes. I guess it sounds like a lot of dicking around, but it's all going to be spread over about a year, so it's actually pretty laid-back.

When you're flipping, are there certain areas of a single family that you automatically update/upgrade to raise the resell value regardless of need or do you just focus on what you know is needed?

I've wondered if you really need an exterior and interior designer type talent or if it comes naturally out of the repairs that are necessary.