All Forum Posts by: Brandon King

Danny, do you have any experience with DSCR? any STRs of your own?

@Michael Baum

 I understand that a lot of the gurus are all talk no walk and that's why I haven't posted much on BP because I want my actions to speak louder than my mouth does. Understand most of the people around me cant afford those clothes or drive those cars I'm not interested in keeping up with the Jones's. However I just feel like I am starting to hit the point where doing this by myself is going to take a lot more time. 

What do you want to accomplish with lunch meetings? Do you expect to build up partners for investing?

• My intent with lunch meetings was to just get to know local investors in my area face to face and not through a computer. If partners come from these lunch meetings that would be great if not I have a list of questions that I would sit down and pick their brain on i.e. ways they have found to lower expenses/ increase rate per night/ and the bottom line all together, how they have financed deals ect.

You said your cash is depleted, so like zero? 10k? I am assuming you have a pretty large reserve set aside for your LTRs and STRs.

• Its not 0, but not enough to finance another vacation home loan based off of the last one. But I could find a more inexpensive property as well.

What is your CoC for all your investments right now? How much are you saving?

• Conservatively upwards of 25% for my LTRs mostly due to the VA loan where I showed up to closing with a pen and my ID.
• And very conservatively for the LTR 13% I just purchased this so this is projected at the lower end of the income estimates.
• Saving personally? About 25% of my paycheck every month

What is driving you to scale quickly? FOMO? Ending W2 dependency?

• Not as much FOMO as I want to end W2 dependency by the time I get out of the military. A few years away but I need to start doing the actions that will get me there now.

Listening to all these podcasts I'm just amazed with how some people are talking about how quickly they scale within the first year or two after purchasing their first STR. I'm looking for expertise on how people scale so quickly. I have two LTRs and one STR (The STR is doing outstanding primarily thanks to how I built out the listing from looking at forums to reading books ECT) and my funds are depleted. It seems like a really long road without finding additional partners and/ or another way to accumulate cash. I understand the general concept of how people find investors though i.e. building relationships. I think its easier said than done however unless I can do it digitally or maybe I am just missing something in the link.

           My initial thinking is getting more active in the forums and buy some lunch for BP members in my area. Does anyone have any advice on this subject? Scaling and relationship building. Thank you all.

 follow-up question, how would I work with the realtor? they aren't supposed to give me comps out of the kindness of their own heart are they? 

Thank you for the response, It is within the city limits of Temple in a residential Neighborhood. Zoned for 2F which I found out means a 2 Family dwelling. Its about 5,500 SqFt. Tax assessment says $12,765 she was asking $25,000 when I talked to her on the phone earlier.

End Buyer, I have connected with a developer who may be interested, other than that I was just going to make my way down the cash buyer list on Propstream/ a Title company. 

If you could send the one you use that would be great!

Hey everyone, this is a new guy question. So I've always been one to jump into the shark tank and then learn to swim. I have two LTR's thanks to the VA loan and one STR all doing well. I wanted to build up some cash and fell into Wholesaling thanks to the MM podcast. I decided to start with trying to Wholesale land because that's what the podcast talked about. I live in Temple, TX and decided to look for the vacant land in the area that had tax liens against it. I compiled the 50 free properties you get with the seven day trial went to Walmart, bought the 50 pack of assorted cards, and hand wrote 50 cards to these people saying the usual, I want to buy your land.. close quickly…. Etc., Etc. then sent them off on Monday morning. I mean no one was actually going to call me right? Well yup got a call today from someone who is ready to sell their land. Propstream says they have multiple liens LABOR EXPENSES, UNPAID HAZARDOUS WASTE, WEED ABATEMENT and I cant really find anything across Zillow, Redfin, or Propstream that gives accurate comps so I don't really have a starting point on what to offer. Also don't really have a good distance/ direction on putting it under contract. If it turns out this is a good deal where can I find a blanket contract with an assignment clause in it? BP Premium? Additionally, I was planning on using the cash buyers list on propstream/ calling local title companies to find a buyer, is this a good starting point? Any recommendations/ advice is welcome thank you all for your time.