First off, thank you, thank you, thank you, to all the supportive Ren Menions out there. After hundreds and hundreds of emails we are back to ’speak on it’. So here goes…the biggest updates of all updates.
We are in a holding pattern, (like the picture?). A major holding pattern. We have always been an open book with you guys and why the hell stop now? But first, let’s answer a couple of questions and emails…
#1 No we are NOT dead.
#2 We love our episodes too, we are trying to bring them back
#3 We did bite off more than we could chew, we had good intentions
So let’s get into it…
We have sold all cars from the RAG and the doors are officially closed! We only broke even every month (best case scenario), and it took up way to much time. The closing of the RAG is all good news.
We have sold off all the boxers! Once again, good news, see above.
We have stopped taping The Ren Men Show (for now) because our singular focus was our rental portfolio for the past several months. Once we stopped all the other break-even businesses we realized our portfolio was in bad shape. We were losing nearly 20K a month! Yeah awesome, we know. We ferociously scoured the numbers to see what the $#!4 was going on. We feel we have more of handle on our portfolio, but by no means are we out of the woods yet.
We are in the midst of a major refinance of our portfolio. We really didn’t know what we were doing at the beginning and it really bit us in the backside. Our current goal is to sell all of our current homes and start fresh. We can renovate our houses cheaper, we can buy the houses for cheaper and we have a better grasp on the expectations/responsibilities of our renters.
Monthly repairs will kill profits! Educate your renters on your expectations and fix the little problems before they become major killers. That is all for now kiddos…
Until next time…whenever that will be…