The Hidden Benefits of a 1031 Exchange
The 1031 exchange is an extremely powerful tool in your tax arsenal, and I think it’s even a little more powerful than people realize
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Patrick Menefee
- Jul 15, 2021
- 7 min
Profit...At What Cost?
Your brand and your reputation are the most important thing to your business. I'd rather be known for fantastic flips and be less profitable
18 views0 comments
Patrick Menefee
- Feb 4, 2021
- 5 min
Bank St BRR-lip | Are You Tracking Your ROE?
In real estate we often talk about cash on cash return, which is how well our cash is performing, but talk less about return on equity. That
43 views0 comments
Patrick Menefee
- Dec 30, 2020
- 6 min
5 Lessons From My First Finished Flip!
Remember when they told you that your network is your net worth?
I don't know who "they" is, but they're absolutely right!
35 views0 comments
Patrick Menefee
- Nov 13, 2020
- 6 min
First Flip Failures - 9 Lessons That Created the Nightmare on Newell
Mistakes, while painful in the moment (and maybe for a few lingering moments as well), are only truly bad if you fail to learn from them
77 views0 comments
Patrick Menefee
- Oct 29, 2020
- 6 min
Completing My Very (im)Perfect BRRRR!
The beauty of the BRRRR strategy is that it still works, even if you change the order a bit like I did!
109 views0 comments
Patrick Menefee
- Oct 13, 2020
- 5 min
Flip #2 - Learning From Past Mishaps!
This property brought together the quintessential elements of an investment acquisition - a wholesaler, hard money, and contractor trouble
37 views0 comments
Patrick Menefee
- Oct 12, 2020
- 4 min
Making the Switch - Tackling My First Flip!
After a year of focusing on rental cash flow, I realized it was time to add flipping to the business model if I was to continue growing
38 views0 comments
Patrick Menefee
- Jun 7, 2020
- 3 min
Seller Financing, a BRRRR, and 14 Units Under Contract!
I don't know if you're aware, but I love multifamily properties. A lot. So it's time to pick up a few more!
57 views0 comments
Patrick Menefee
- Jun 4, 2020
- 4 min
Statesville Update - BRRRR Officially Complete!
I was introduced to the BRRRR concept as I began learning about real estate investing. Fast forward 18 mo and my BRRRR was a huge success!
143 views0 comments
Patrick Menefee
- Jun 3, 2020
- 5 min
Brown St Duplexes - 3 Themes in a Successful Deal
The lessons from these three themes are what allowed us to successfully close the deal. Apply them them to your business!
43 views0 comments
Patrick Menefee
- May 8, 2020
- 3 min
Gastonia Quad - 99 Problems and a Rehab is Most
It's been 2 months since #toiletlady moved out of Unit 3 in my fourplex, and the other tenant was out of Unit 2 shortly after. To say...
46 views0 comments
Patrick Menefee
- May 7, 2020
- 3 min
Statesville Update - The Longest Rehab, a Lesson in Coordination
The entire goal of this property and rehab was to subdivide, improve units, and get all 6 stabilized to complete the partial BRRRR
23 views0 comments
Patrick Menefee
- May 5, 2020
- 3 min
Rent's Due! April Rent Analysis
When the beginning of April rolled around with the economy reeling from Covid-19, the question at the forefront of any landlords mind was...
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Patrick Menefee
- Apr 29, 2020
- 5 min
The Most Important Concept you Forget - Sunk Costs!
"A cost that has already been incurred and that cannot be recovered" is the way it was defined by a Britannica article
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Patrick Menefee
- Apr 27, 2020
- 3 min
Under Contract - 2 Acquisitions, 3 Properties, 8 Units!
The two duplexes will result in a near perfect BRRRR, while the quad will be a nice cashflowiing buy and hold!
45 views0 comments
Patrick Menefee
- Apr 22, 2020
- 3 min
Gastonia Quad - Demo, Painting, and Flooring in Unit 2
The work on Unit 2 has been going on for a little while now, and thanks to Covid I'm saving some money and doing a lot of the work myself!
34 views0 comments
Patrick Menefee
- Apr 17, 2020
- 2 min
Salisbury Update - Rehab Complete!
February 26, 2020 I did a horrible job of updating the progress on the website, so if you want to catch up on more of the detail of the...
31 views0 comments
Patrick Menefee
- Apr 16, 2020
- 2 min
Statesville Update - Getting Started
October 17, 2019 I'm happy to say that after a month of ownership, no major issues to report yet! 5 of the 6 leases were signed without...
21 views0 comments
Patrick Menefee
- Apr 14, 2020
- 2 min
Fourplex Update - Evictions, City Inspectors, and Toilet Lady
It has certainly been an eventful month on the old fourplex, which saw the birth of the aptly named "Toilet Lady" and the excitement of...
38 views0 comments