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Paul Mark Morris

๐Ÿ‘ค Speaker
368 total appearances

Appearances Over Time

Podcast Appearances

Money Rehab with Nicole Lapin
Settling the Rent Vs Buy Debate and 3 Rules of Investing in Real Estate with Paul Mark Morris

I looked at it and there were enduring qualities.

Money Rehab with Nicole Lapin
Settling the Rent Vs Buy Debate and 3 Rules of Investing in Real Estate with Paul Mark Morris

The enduring qualities are magical views, 5,000 square feet all on one level.

Money Rehab with Nicole Lapin
Settling the Rent Vs Buy Debate and 3 Rules of Investing in Real Estate with Paul Mark Morris

It had a beautiful infinity pool that was like carved into the edge of the mountainside.

Money Rehab with Nicole Lapin
Settling the Rent Vs Buy Debate and 3 Rules of Investing in Real Estate with Paul Mark Morris

I'm painting a very nice picture, right?

Money Rehab with Nicole Lapin
Settling the Rent Vs Buy Debate and 3 Rules of Investing in Real Estate with Paul Mark Morris

Wow, wow, wow, right?

Money Rehab with Nicole Lapin
Settling the Rent Vs Buy Debate and 3 Rules of Investing in Real Estate with Paul Mark Morris

You go in and there are, I think it's not an exaggeration, 100 overhead LED lights of the cheapest brand possible.

Money Rehab with Nicole Lapin
Settling the Rent Vs Buy Debate and 3 Rules of Investing in Real Estate with Paul Mark Morris

And there's not a dimmer in the whole house.

Money Rehab with Nicole Lapin
Settling the Rent Vs Buy Debate and 3 Rules of Investing in Real Estate with Paul Mark Morris

So you go in and you turn on the lights and it's like, you're like in a surgical theater.

Money Rehab with Nicole Lapin
Settling the Rent Vs Buy Debate and 3 Rules of Investing in Real Estate with Paul Mark Morris

It's interrogation rooms.

Money Rehab with Nicole Lapin
Settling the Rent Vs Buy Debate and 3 Rules of Investing in Real Estate with Paul Mark Morris

It's like, that's bad.

Money Rehab with Nicole Lapin
Settling the Rent Vs Buy Debate and 3 Rules of Investing in Real Estate with Paul Mark Morris

And then there was just so much wrong with the house, visible flaws and things that chase people away that if you do a little bit of work or a little bit of due diligence that you can work around.

Money Rehab with Nicole Lapin
Settling the Rent Vs Buy Debate and 3 Rules of Investing in Real Estate with Paul Mark Morris

And the bottom line is I ended up paying 4.65 million for it.

Money Rehab with Nicole Lapin
Settling the Rent Vs Buy Debate and 3 Rules of Investing in Real Estate with Paul Mark Morris

And let's just do the math.

Money Rehab with Nicole Lapin
Settling the Rent Vs Buy Debate and 3 Rules of Investing in Real Estate with Paul Mark Morris

It's 5,000 square feet.

Money Rehab with Nicole Lapin
Settling the Rent Vs Buy Debate and 3 Rules of Investing in Real Estate with Paul Mark Morris

And I brought a whole team in to inspect everything and then had a contractor who I trusted and said, you know, how much is it going to cost to fix all this stuff?

Money Rehab with Nicole Lapin
Settling the Rent Vs Buy Debate and 3 Rules of Investing in Real Estate with Paul Mark Morris

And the answer came back, you know, well under $200,000.

Money Rehab with Nicole Lapin
Settling the Rent Vs Buy Debate and 3 Rules of Investing in Real Estate with Paul Mark Morris

So let's redo that math.

Money Rehab with Nicole Lapin
Settling the Rent Vs Buy Debate and 3 Rules of Investing in Real Estate with Paul Mark Morris

4.65 million in with everything screwed up and $200,000 to fix it.

Money Rehab with Nicole Lapin
Settling the Rent Vs Buy Debate and 3 Rules of Investing in Real Estate with Paul Mark Morris

Now we're at 4.8.

Money Rehab with Nicole Lapin
Settling the Rent Vs Buy Debate and 3 Rules of Investing in Real Estate with Paul Mark Morris

You know what?