Welcome to the The Ren Men Wrap-up, each month we will discuss the prior month’s goings-on.
On the real estate side of the business, we are currently at 76 homes under contract and our one commercial property, the store and lock. We got 4 new houses under contract, in the month of February. The breakdown is as follows:
| House | Purchase | Repairs |
| #1 | $16,901 | $20,000 |
| #2 | $17,500 | $18,000 |
| #3 | $18,500 | $21,000 |
| #4 | $15,500 | $3,500 |
On the vending side of the company, we have not made a pick up of the monies, yet this month. We have opened a new market, more details will follow.
We have just started a new company. It is a used car dealership. Once again, more details will follow.
{ 11 comments… read them below or add one }
Do you guys make your property addresses available? I am in a different part of the country and it’d be fun to see the areas where you are investing.
Video Reply from The Ren Men
We do not provide addresses in the interest of our renters.
Perhaps I missed it on an earlier one…… somebody had asked how you get the financing on the RE biz, in particular the first few. My reason for asking is I just bought a condo in my IRA (cash), which pretty much kills that resource. I would like to continue on with these……. but all the local banks and credit unions want 20-25% down, plus I need to pay fix up. I have a friend that does flips because he has a dozen rentals- and can’t get financed for more. How does one pull together the cash to do the first few? Since you are buying at 75%, I’m sure you wait a year and refi to get some out; but how did you get to there? Inquiring minds want to know……
I’ll second this question!
Video reply from The Ren Men
A used car dealership? Interesting…
Have you ever looked into the delivery van business, either with FedEx or one of the other lesser known companies? I was interested in it at one time, but got involved in other things. It has piqued my interest again recently.
Will be very interesting to hear about the used car lot will do and how it will work for passive income. Was it currently in a passive income mode (proper staffing and running on own okay)? If not how do you plan to convert it to that? If it previously was passive income for another how did you convince him to give it up.
Video reply from The Ren Men
That is awesome to hear and can’t wait to see you guys go through that. Will be cool to see the process you used in making it a passive income business.
Video reply from The Ren Men
Grant and Alan,
Nice monthly update – House #4 looks like a peach of a deal. Looking forward to the March update.
Cheers,
Matt