My goal has always been the right amount of cash flow from the least number of units. Technically, the least number of units is zero. Unfortunately, the cash flow from zero units sucks. I think there are stages to this. Growth: Acquire the deals that make sense. You need assets producing income before you can worry about having the perfect portfolio. Optimize: Once you have enough, start pruning. Maybe sell the problem property. Trade several average properties for fewer better ones. Reduce debt. Improve cash flow per unit. Start asking whether each property deserves to stay in the portfolio. Age: This one doesn’t get talked about enough. At some point, another property or another $500 a month isn’t necessarily improving your life. When we’re younger, we might willingly accept more properties, more tenants, and more obligations because we’re building. Later, the thing we’re trying to accumulate changes. First we accumulate properties. Then we optimize the properties. Eventually, what we’re really trying to accumulate is time.

Have reserves and expect the fear to change form. At first it’s: “What if someone outbids me?” Then you make the offer and suddenly it becomes: “Oh crap. What if they ACCEPT it?” Then it’s: “What if I missed something during the inspection?” “What if I inherit a bad tenant?” “What if the furnace dies the week after I close?” The fear doesn’t automagically go away when you learn enough. It just changes form. What we can do is mitigate it. Education helps. Running the numbers helps. Inspections help. Having good reserves helps. Having a plan for what could go wrong helps. Eventually I realized I was comparing the fear of buying a property to the comfort of doing nothing. That was the wrong comparison. I needed to compare the fear of taking action with my fear of working until I died because I never took action. One of those scared me a lot more.

The lease allows late payments. The wviction being served is a favor to the tenants. There are rent relief programs that won’t talk to tenants until they have been served. So if they have a real issue they can get help. Of they don’t they can get evicted.

@Daniel Lupercio I think it was the last video done before moving to Skool. I’ll see if I have it somewhere. If not I’ll do it again.

Yes. But I don’t really think of it as rehabbing specifically for Section 8. Those requirements are there for a reason. GFCIs, handrails, smoke/CO detectors, safe electrical, no trip hazards, functioning windows and doors, those things reduce the chance of someone getting hurt and reduce my liability as the owner. For me, those standards are the minimum, not the goal. I want the property safe whether the tenant has a voucher or not. If I rehab it correctly from the beginning, then being ready for a Section 8 inspection later is just a side benefit.