Thanks for the feature! I don’t think there is a right or wrong answer. But personally I would sell it and buy a bigger building or invest it into your business to make a better ROI. ❤❤
You can always use some 45 or 60 min set durarock and skim coat on top of the paneling to fill in the grooves and smooth out the wall. We’ve done this on our own house and a couple rentals and years later it’s still holding up. Throw some paint on it and keep on rocking.
Sell it . Two recommendations. Look into 1031 like other ppl are saying. And also recommend that you split the rental/property business from the dumpster business. Have 2 LLC's to diversify/limit liability issues with Suing/lawsuits. My account recommend for me.
If it's possible and not done already, split it up as bottom floor and loft. Rent out both. Also 14:33-15:40 ish the same clip plays twice back to back.
I would hold on to it your still almost getting same amount of profit in 2 years it’s always paying for itself. Maybe if you’re completely out of dumpsters how many more dumpsters do you want to run if your driver gets sick probably need another driver
Maybe I’m missing something that you could explain to me, does a bigger property equate to a higher return? I’ve been looking for deals and it almost seems like the bigger the number of units the lower the cap rate? Also, even if you find something bigger that has a higher return, aren’t you in the same position where it would take you longer to make that equity back? Especially with I’m assuming what would be a much higher interest rate? Just thinking out loud so please share some wisdom! Love the content!
I see what you're saying. But Kinda like what I did with this place, i need to do it again, but at a higher price tag. The money is made at the buy. I bought this place much lower than what it was worth. So, in the end, I was already in a great equity position. The goal would be to be the same thing but at a higher price tag, which it's seems weird, but it's easier to find more equity the more you spend. "Takes money to make money" comes to mind when I think of this. More units or higher yielding units will def cashflow better as well. Almost always the case with the "foundation rule." It also elevates stress if someone is to vacate a single unit. Your bottom line won't be nearly as affected. So, I am essentially just using the equity I gained over a couple of years to spring board into something else. But to your point. "Aernt you in the same position?" Potentially, but the goal is to just continue to roll myself into higher equity positions on each deal. I'm not as worried about a monthly return. I care about the equity position that helps increase my net worth.
Really liking the frequent uploads man! I’d sell. Also- if you haven’t ever tried an 18” roller for painting give it a shot. Will speed up the process like crazy!
If you’re gonna keep the property, look into furnished mid term rentals to insurance companies. I do this in Illinois closer to St. Louis and it’s very profitable for us. I would guess that you could make $2000 more per month just on that one unit renting to insurance companies.
Your rental upgrades look pretty awesome the paint does wonders with the carpet is gonna look great in the bathroom and that trim job on the shower is horrendous makes me wonder about the quality of the actual shower if they actually waterproofed and water tested the actual shower base and everything so you don’t have a leaking mess With mold 🤔
So from what I have researched and seen selling wouldn't be the best route. Since the company owns the houses to me it would appear that the tax break for depreciation every year as well as the deductions for the interest paid on the mortgage out weigh the $50k. I would think that the cash out refinance would be the best route since debt is not taxable. For that same reason i would fix the house nice to increase its value before doing the refi. The repairs and upgrades are allowed to be written off. But if you sell you will have to pay capital gains tax on the $50k or whatever is left after closing costs. Even if they don't make a ton of money annually it seems to be a good asset for various reasons to have in your portfolio. So long as the rent keeps covering the monthly mortgage payment.
Open a line of credit on the equity and put it towards the new truck or more dumpsters or a down payment on another unit, then you have both and you up your net worth as well
Hey, I’ve been watching your content recently and have been enjoying it . Considering starting my own rolloff dumpster business. Just curious what your advice would give on getting started as far as still working a full-time job and having it as a side hustle. For now my question is are customers willing and OK with the idea of having dumpsters, delivered and picked up Early morning later evening as I’m still working a full-time job didn’t know if that’s a possibility or accepted. Any input or advice would be great. Thanks. 
I think you got a episode where you was talking about starting your own dumpster business and how you did yours. But I can't remember what it was called otherwise I would tell the guy
@@chris-h6980 I think you're right. I was trying to think back to what video it might be! I spread nuggets about my past and getting started in a lot of older content. So it's hard to pin down a single video about it!
Just want to say like the vids not many people are open about what options they have and what moves they are thinking on playing, me personally I wouldn't sell the place unless I am making that 100k profit off of it and so that way I would be able to invest in multiple options but also during the times we are facing where property values are extremely high it's a chance you gotta play you wouldn't exactly be able to turn around and get another property right away, dumpster business seems it looks like it's booming I would definitely say could broden your horizon and start making a play to the bigger dumpsters and or get more of the type you have to be able to keep your employee and you slam to the point you need another person to make the work load light again on you
Its a hard question to answer. Definitely depends on your goals. But I would pull the equity if I needed it and let the tenants pay it down. One day when you have a few million of paid for real estate, you can retire and sell it all. That is my goal at least....
I would keep the smaller units larger units open up to a whole difference such as ADA had a ower i worked for got sued by tennet for not having proper handicapped access guy moved but he still had court case with him as other people said seperate the two business entitys. Things change someone larger co might want to buy dumpster business and if your rentals are part of that will make more difficult. Always look at the 35 percent tax to be paid if not reinvested properly
Don’t sell it man! You’ll regret it. Just keep it occupied and put the money toward paying it off faster. Mark my words if you sell it you’ll go back in 15 years from now and cry. It will be worth a ton and you’ll have the cash flow to retire or pass it to your kids.
Myself I would sell the place for money you can get out of it. Then turn use the money and buy your self a roll-off dumpster truck. It would make dropping off and picking up dumpsters more easy.
@@rollingops While I don't have a company myself. If it makes it more easy to pick up full dumpsters. The sooner you could empty said dumpster and get it to it's next location it's needed at. Which in turn would make your customers more happy I'm sure and chances are will be repeat customers. Just remember how much time it takes to wrench up a dumpster on the trailer you use now. Now figure out how much quicker you can get the job completed with a roll-off dumpster truck.
I’d do what you know to do best. Stick to your guns, if you cannot make any money on a triplex why would you compound that to bigger deals. If you can’t make money on small deals why go bigger. You obviously crush the dumpsters why not expand there where your expertise is. Plus you can sell a business that is a cash cow for multiples of the revenue or net profit depending. Either way you’re doing great and I’m just giving my thoughts I’m no expert myself!
Good points. I'm not worried about making money per month though. Or really per year. It's more about my equity position. This place didn't make me a lot of liquid cash. But easily netted $50-75k of equity in less than 2 years. So it's possibly worth doing the same thing again but on something bigger. It's easier to find more equity in bigger deals. If that makes sense. It's all about building my net worth.
Right that makes sense too. It didn’t “cash flow” but the appreciation is where a the cash is and the tenants paying down the loan. You’re crushing it👍🏻
IMO Id sell it... and take that $$$ and put up another batch of Storage units. Especially some Inside Storage Taller ones that would hold Motor Homes and Bigger Boats. and have a fenced Yrd. to hold outside Storage for the same thing. Theres No work involved except Collect $$$ every Month and Paper Work. And if they dont pay You have a Auction or Keep the Items. IMO.
I would sell the house especially with the way they access is of getting upstairs that just seems like a potential accident waiting to happen especially if they have kids. I think that money and put it into your storage unit or buy you another piece of property That's just my opinion.
I’d say either sell and reinvest back into real estate (hopefully skirting any capital gains tax) or borrowing against equity to purchase another property… increasing cash flow. No matter what you do I would separate your dumpster business from your real estate holdings immediately. Cut off any liability that your operating company could run into that jeopardizes your other assets and vice versa. As well cutting off any personal liability. Your dumpster business can rent your shop from your real estate holdings company, possibly even go as far as another company owning your equipment that rents to your operating company. Pull your salary from a rental company for passive income and less tax liability. Set it up now before you get too big and have a liability mess…
Haha I knew someone would say it. I paid more than $50k. But I'm hoping to profit 50-75k. You'd still be shocked how cheap real estate can be in the midwest!
Thanks for the feature! I don’t think there is a right or wrong answer. But personally I would sell it and buy a bigger building or invest it into your business to make a better ROI. ❤❤
Appreciate you coming on to share your knowledge, my guy! That may be the path we take. Be ready to list it for me 😀
You can always use some 45 or 60 min set durarock and skim coat on top of the paneling to fill in the grooves and smooth out the wall. We’ve done this on our own house and a couple rentals and years later it’s still holding up. Throw some paint on it and keep on rocking.
Sell it . Two recommendations. Look into 1031 like other ppl are saying. And also recommend that you split the rental/property business from the dumpster business. Have 2 LLC's to diversify/limit liability issues with Suing/lawsuits. My account recommend for me.
We have been doing the same type thinking. Great video and I would sell to double down on my business.
If it's possible and not done already, split it up as bottom floor and loft. Rent out both. Also 14:33-15:40 ish the same clip plays twice back to back.
Appreciate it! I just saw that! And yea that's kinds how it's already set up. 2 units at the bottom one at the top. So a triplex all together
I would hold on to it your still almost getting same amount of profit in 2 years it’s always paying for itself. Maybe if you’re completely out of dumpsters how many more dumpsters do you want to run if your driver gets sick probably need another driver
Maybe I’m missing something that you could explain to me, does a bigger property equate to a higher return? I’ve been looking for deals and it almost seems like the bigger the number of units the lower the cap rate? Also, even if you find something bigger that has a higher return, aren’t you in the same position where it would take you longer to make that equity back? Especially with I’m assuming what would be a much higher interest rate? Just thinking out loud so please share some wisdom! Love the content!
I see what you're saying.
But Kinda like what I did with this place, i need to do it again, but at a higher price tag. The money is made at the buy. I bought this place much lower than what it was worth. So, in the end, I was already in a great equity position. The goal would be to be the same thing but at a higher price tag, which it's seems weird, but it's easier to find more equity the more you spend. "Takes money to make money" comes to mind when I think of this.
More units or higher yielding units will def cashflow better as well. Almost always the case with the "foundation rule." It also elevates stress if someone is to vacate a single unit. Your bottom line won't be nearly as affected.
So, I am essentially just using the equity I gained over a couple of years to spring board into something else. But to your point. "Aernt you in the same position?"
Potentially, but the goal is to just continue to roll myself into higher equity positions on each deal. I'm not as worried about a monthly return. I care about the equity position that helps increase my net worth.
Really liking the frequent uploads man! I’d sell. Also- if you haven’t ever tried an 18” roller for painting give it a shot. Will speed up the process like crazy!
If you’re gonna keep the property, look into furnished mid term rentals to insurance companies. I do this in Illinois closer to St. Louis and it’s very profitable for us. I would guess that you could make $2000 more per month just on that one unit renting to insurance companies.
If you can 1031 into something, sounds like you might want to sell it. I'm surprised you're not cash flowing a lot on that each month...
Keep the property and use the equity. Remember you want to have multiple properties. And also do you want the money now or later is another question.
Your rental upgrades look pretty awesome the paint does wonders with the carpet is gonna look great in the bathroom and that trim job on the shower is horrendous makes me wonder about the quality of the actual shower if they actually waterproofed and water tested the actual shower base and everything so you don’t have a leaking mess With mold 🤔
So from what I have researched and seen selling wouldn't be the best route. Since the company owns the houses to me it would appear that the tax break for depreciation every year as well as the deductions for the interest paid on the mortgage out weigh the $50k. I would think that the cash out refinance would be the best route since debt is not taxable. For that same reason i would fix the house nice to increase its value before doing the refi. The repairs and upgrades are allowed to be written off. But if you sell you will have to pay capital gains tax on the $50k or whatever is left after closing costs. Even if they don't make a ton of money annually it seems to be a good asset for various reasons to have in your portfolio. So long as the rent keeps covering the monthly mortgage payment.
Open a line of credit on the equity and put it towards the new truck or more dumpsters or a down payment on another unit, then you have both and you up your net worth as well
Hey, I’ve been watching your content recently and have been enjoying it . Considering starting my own rolloff dumpster business. Just curious what your advice would give on getting started as far as still working a full-time job and having it as a side hustle. For now my question is are customers willing and OK with the idea of having dumpsters, delivered and picked up Early morning later evening as I’m still working a full-time job didn’t know if that’s a possibility or accepted. Any input or advice would be great. Thanks. 
That's exactly how I started. People booked times on my website. But the only available slots for them to pick we before 8am or after 5:15pm!
I think you got a episode where you was talking about starting your own dumpster business and how you did yours. But I can't remember what it was called otherwise I would tell the guy
@@chris-h6980 I think you're right. I was trying to think back to what video it might be! I spread nuggets about my past and getting started in a lot of older content. So it's hard to pin down a single video about it!
Just want to say like the vids not many people are open about what options they have and what moves they are thinking on playing, me personally I wouldn't sell the place unless I am making that 100k profit off of it and so that way I would be able to invest in multiple options but also during the times we are facing where property values are extremely high it's a chance you gotta play you wouldn't exactly be able to turn around and get another property right away, dumpster business seems it looks like it's booming I would definitely say could broden your horizon and start making a play to the bigger dumpsters and or get more of the type you have to be able to keep your employee and you slam to the point you need another person to make the work load light again on you
Its a hard question to answer. Definitely depends on your goals. But I would pull the equity if I needed it and let the tenants pay it down. One day when you have a few million of paid for real estate, you can retire and sell it all. That is my goal at least....
I would keep the smaller units larger units open up to a whole difference such as ADA had a ower i worked for got sued by tennet for not having proper handicapped access guy moved but he still had court case with him as other people said seperate the two business entitys. Things change someone larger co might want to buy dumpster business and if your rentals are part of that will make more difficult. Always look at the 35 percent tax to be paid if not reinvested properly
Don’t sell it man! You’ll regret it. Just keep it occupied and put the money toward paying it off faster. Mark my words if you sell it you’ll go back in 15 years from now and cry. It will be worth a ton and you’ll have the cash flow to retire or pass it to your kids.
Personally i would sell and invest it into either the storage or buying more cans if there is a demand for it. Only you know what is best for you 💪
why do you prefer drywall? I complete understand that old outdated 70's paneling sucks but that coat of grey looks fine!
It turned out kinda nice once painted! I think drywall though out just gives a clean modern feel. But this isn't bad really!
Huge improvement either way
I think you should find a new tile guy..way more appealing ways to layout subway tile
That's why you never hire a tile guy to do trim carpentry it comes out looking like crap.
Luv the Kart stuff. Luv the channel.
Appreciate you watching!
Interesting video, if it was me , sale it take that money and use it to grow your dumpsters business or your storage lot,
That’s motivating and you just started with the dump business first or real estate first ???
I actually started with real estate. I believe I was on my second duplex before I got into the dumpster business!
@@rollingops nice !
Could you make a better return on the storage units?
Possibly! Maybe not higher gross, but likely higher net profits
Myself I would sell the place for money you can get out of it. Then turn use the money and buy your self a roll-off dumpster truck. It would make dropping off and picking up dumpsters more easy.
I see your point. But would it make me more money?
@@rollingops While I don't have a company myself. If it makes it more easy to pick up full dumpsters. The sooner you could empty said dumpster and get it to it's next location it's needed at.
Which in turn would make your customers more happy I'm sure and chances are will be repeat customers.
Just remember how much time it takes to wrench up a dumpster on the trailer you use now. Now figure out how much quicker you can get the job completed with a roll-off dumpster truck.
I’d do what you know to do best. Stick to your guns, if you cannot make any money on a triplex why would you compound that to bigger deals. If you can’t make money on small deals why go bigger. You obviously crush the dumpsters why not expand there where your expertise is. Plus you can sell a business that is a cash cow for multiples of the revenue or net profit depending. Either way you’re doing great and I’m just giving my thoughts I’m no expert myself!
Good points. I'm not worried about making money per month though. Or really per year. It's more about my equity position. This place didn't make me a lot of liquid cash. But easily netted $50-75k of equity in less than 2 years. So it's possibly worth doing the same thing again but on something bigger. It's easier to find more equity in bigger deals. If that makes sense. It's all about building my net worth.
Right that makes sense too. It didn’t “cash flow” but the appreciation is where a the cash is and the tenants paying down the loan. You’re crushing it👍🏻
IMO Id sell it... and take that $$$ and put up another batch of Storage units. Especially some Inside Storage Taller ones that would hold Motor Homes and Bigger Boats. and have a fenced Yrd. to hold outside Storage for the same thing. Theres No work involved except Collect $$$ every Month and Paper Work. And if they dont pay You have a Auction or Keep the Items. IMO.
I would sell the house especially with the way they access is of getting upstairs that just seems like a potential accident waiting to happen especially if they have kids. I think that money and put it into your storage unit or buy you another piece of property That's just my opinion.
I would call him back and tell him fix it or I’ll get someone else next time.
We're already about to the "someone else next time stage" with certain things at least
Cutting that corner trim would be not better than what they did
You think?
$50k? Gosh not even worth the hassle. Hold onto it. Ever hear somebody say “i wish i wouldn’t have sold that house”
I think id keep it for another year or so. 50k in the grand scheme of things is not a whole lot of money..
I’d say either sell and reinvest back into real estate (hopefully skirting any capital gains tax) or borrowing against equity to purchase another property… increasing cash flow. No matter what you do I would separate your dumpster business from your real estate holdings immediately. Cut off any liability that your operating company could run into that jeopardizes your other assets and vice versa. As well cutting off any personal liability. Your dumpster business can rent your shop from your real estate holdings company, possibly even go as far as another company owning your equipment that rents to your operating company. Pull your salary from a rental company for passive income and less tax liability. Set it up now before you get too big and have a liability mess…
Sell it wait for the so-called market crash and rebuy then rent it 4 to 8 years and sell it again 😮
I would sell it an invest into something different
Thanks! We shall see!
@@rollingops you are very welcome
50k😂 that's 500k in Colorado
Haha I knew someone would say it. I paid more than $50k. But I'm hoping to profit 50-75k. You'd still be shocked how cheap real estate can be in the midwest!
Sell and build storage buildings.
Yes 😊😊😊