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
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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
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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!
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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
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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!
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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
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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
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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!
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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!
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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...
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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
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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!
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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...
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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...
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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...
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Patrick Menefee
- Apr 14, 2020
- 2 min
Fourplex Update - Unit 1 Rehab
February 29, 2020 This update is long overdue! I had a few issues early on with late or non-payment, and as a result I went into the...
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Patrick Menefee
- Apr 14, 2020
- 2 min
Fourplex Update - Getting Started
October 17, 2019 I'm currently 5 weeks after closing and there have been plenty of opportunities to learn so far. The first month was a...
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Patrick Menefee
- Nov 22, 2019
- 6 min
Rental #2 - 6 units and a hospital bed
I was laying in a hospital bed in my beautiful cap and backless gown, I had a nerve block in my shoulder that made my left arm completely...
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Patrick Menefee
- Sep 22, 2019
- 7 min
#1 - Simple, not easy
When you take the first steps in real estate investing you’re often caught off guard by the simplicity of it all. One day you can’t get...
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