Jay Chekansky

Proud Dad - I put investor dollars to work in cash flowing affordable housing and Self Storage. 10+ years investing in SFRs and small commercial

[Jay Chekansky @jchek779]

@Reiwholesaler If they had their shit together we wouldn't have the opportunities that we do.

[Jay Chekansky @jchek779]

@Storage_Venture Is the tax deferment solely beneficial by paying today's taxes in tomorrows inflated dollars or is there added benefit?

[Jay Chekansky @jchek779]

@JimKittridge Interesting post Jim. What was the underlying psychology behind the decisions though?
- Ability to manage downside risk with the SFRs?
- Control vs betting on appreciation?
- Brandon Turner told me that I need 50 doors at $150/mo cashflow to retire?

[Jay Chekansky @jchek779]

@thmoneycircle It's not hope. It is low achievers conditioned with high entitlement

[Jay Chekansky @jchek779]

@robbiehendricks This is why I have switched everything over to seller finance with SFRs. These people have no standards.

Banks have taller buildings than property managers. I'll take amortization over tenants every time.

[Jay Chekansky @jchek779]

@thmoneycircle I have wrapped wraps in the past. When you are buying a CFD, you should close on the property with the CFD as an encumbrance. Things get dirty if the current CFD holder gets paid but remains on title.
Do what is needed to maintain control of the deal if things go sideways

[Jay Chekansky @jchek779]

@shawngorham What is your alternative? To list with an agent?
Then time/interest/holding $ swipe equity
Then an agent commission swipes equity
Then an attorney swipes equity
Then govt swipes equity
When it's all done, the cash buyer math is still the same.

Time and certainty have value

[Jay Chekansky @jchek779]

@jonnajarian There isn't a single layer of government left that is working for or representing the United States citizens.

[Jay Chekansky @jchek779]

@CaseyMericle I put up unused household items as contract consideration.

[Jay Chekansky @jchek779]

@ThinkAppraiser On a new build w/ poor topo, the builder convinced to do it on a slab vs crawlspace. Turns out, if you keep digging down, you can build anything on a slab. The house turned out looking terrible from the road.
So this bad location was 20ft too close to the core of the earth

[Jay Chekansky @jchek779]

@ThinkAppraiser Paper
There is a reason why banks have the tallest buildings in every city.

[Jay Chekansky @jchek779]

@thmoneycircle This is a great analytical breakdown of how to do it. I just always thought it was more fun to get all my money out of a house than have money trapped in it

[Jay Chekansky @jchek779]

@Storage_Venture When I bought my first SSF, the previous owner turned over a 5 inch thick 3 ring binder. That's how she managed the facility

[Jay Chekansky @jchek779]

@shawngorham I stay in my lane. 1 property. 1 private lender. 1 mortgage.

[Jay Chekansky @jchek779]

@resetbasis What % fee makes it worth it to endure the brain damage of doing business in CA?

[Jay Chekansky @jchek779]

@thmoneycircle "Sure, that's not a problem....I'm thinking I must have missed something. Is there something you think they can help with that I didn't cover?"

[Jay Chekansky @jchek779]

@robbiehendricks @paulswaney3 At this point, you have to have a personality disorder to be in politics. There is no other explanation for this behavior

[Jay Chekansky @jchek779]

@CreateNotesOnRE All are wrapped around a PML 1st that would be paid off as part of the note sale.

Arbitrage is the 8th wonder of the world

[Jay Chekansky @jchek779]

@CreateNotesOnRE Most are rehabbed doublewides on land in Upstate SC. LTV is case by case but 60-85% across my holdings

Detitled
Permanent Foundation
Dodd Frank underwritten borrowers
All 3rd party serviced with pay history

[Jay Chekansky @jchek779]

@REExchangor @CaseyMericle My best deals smell like the Goodwill