Robby apologizes for falling short of his promise to deliver the numbers to Chase so that he could put out the case study for the Tampa condo deal we’ve been talking about.

We run through a buy-out that Robby is doing with a JV investor for the condo that they picked up down in Ft. Pierce, FL. The investor is a show listener and picked up on Robby’s desire to add the property to his rental property, and asked Robby if he wanted to do a buy-out.

The investor is going to receive what looks to be 40% cash on cash return in just about five months of being in the deal. All in all this is going to a good win-win deal.

Robby dives into being conservative when doing your analysis on deals as it relates to ending up needing to do renovations on properties after the note has gone through foreclosure and has become an REO.

He also gets into how buying in bulk on properties balances out your returns as some will need major renovations and some will come to you in good condition. Consider it a spread of risk across multiple assets.

We lightly touch on having enough capital behind your business or behind your JV investors to handle these renovations as they may come up from time to time.

Forced place insurance has been a subject that we have been talking about behind the scenes. As it stands, Robby is now set to make a claim and doesn’t have a full understanding of how the coverage is set to work.

This is something we’ll keep you informed on as we learn more and things sort themselves out.

We close out discussing mid-year goal progress. We are starting to review ours and we’re going to do a show to update on where things are at so far in the year, we’ll be discussing this on Show 30, July 1.

Take the time to review your progress and join us in a few weeks as we touch on goal setting once again.

As always send you questions to [email protected].

Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby