All Forum Posts by: Billy Daniel

This is a great idea.  I would recommend reaching out to your local women's shelter.  The shelter in our area works with local landlords to provide homes to those in their charge and their children.  It prevents any fair housing issues since you are partnering with another non-profit, in my opinion.

That would at least get the ball rolling on your idea!

I have zero evidence to back this up, but if I worked for one of the companies being bashed in this thread this is exactly how I would respond.  No real post history, then you pop in with a detailed, positive response about a company that has burned so many people in this forum.  Your post has caused a shortage of red flags that is sure to fuel inflation for months to come.

You really can't trust that you are hearing the full story when you hear about those "rapid scalers". I follow an STR guy on Insta and always talks about how easy it was to get started and how successful he is now. What he fails to share is that he had a $300k/year salary before he got started. Anyone can be a successful real estate investor if they have that kind of money coming in.

Don't be distracted by others.  Run your race and grow at a pace you are comfortable with and keeps you out of trouble with leverage.  Network with other investors and get some tips and strategies that they have used to grow and apply them to your business.

I'm just gonna say it. If you need a loan for EMD, then what are you doing buying something?

I think it's a great idea!  I was taught only about getting a good job and being a good employee in high school.  I would have loved to have someone come in and teach about other ways to generate income.  

Another thing to add to your topic list is debunking Tic Tok get rich quick schemes.  I've seen "influencers" sitting by their pool talking about easy ways to make money that is just straight up fraud.  That might be some entertaining research!

Hey BP! Last year, I started a local REIA in our local community in Arkansas. We've consistently had 6-8 attendees for each meeting with a few being higher and few being lower. Prior to starting it, I attended some other meetups that were further out and stole the best of each one to build mine. I charge $15/meeting or offer a $150/year membership, which no one has purchased yet. We have a blend of networking and education and bring in local speakers to discuss strategies and tips.

My question is, how do I increase the attendance?  I have a goal of averaging 15 people per meeting this year.  What have you done or seen that really resonated with attendees and got them talking and spreading the word?

TIA!

I believe the subto community when they say it's not an issue, as long as they were saying that before 2022.  My opinion is the higher interest rates and tighter lending standards are causing banks to look for other opportunities to shore up their holdings.  If you were holding a loan that was paying you 3% and you found that you could call it due and essentially get double the interest, why wouldn't you do that?  Sure, there's a chance that the borrower could default and you're stuck with a foreclosure, but I would think it's worth the risk.

It's worth noting that the $400/month you're eating only covers your PITI. You'll have repairs and maintenance to cover as well. There's also a solid chance you're going to have vacancy while you wait for the market rents to get where you need them to be. In reality, I would assume it's going to cost you about $600/month or more if you end up needing a PM. However, like others have said, Austin has a bright future so it may be worth holding it if that doesn't land you in the poor house.

Congratulations!  Thats great!

Hey @Brandon Stiles! I'm in Russellville, so I might be able to help. For most rural properties with very few comps, appraisers will usually let you use some common sense. If you can find properties that are similar in size and location and only vary on condition, you can just add a premium to what you find. The best option is to get a real estate agent to look at it and provide input. You could also pay an appraiser to come out and give you an ARV.

Don't widen your search radius too much.  There's no good answer for how wide your search should be.  I've used everything from .25 miles to 5 miles depending on the property.