All Forum Posts by: Carter Fleck

@Todd Mason My thought process is akin to @John Underwood's. Hedge your risks. Definitely agree HOA is risky, so I would try and get that in writing if you can from them as a layer of protection. I also had a little red flag go up in my gut about this statement:

"My thought that is when the ban comes and the pot gets thinned my property should theoretically do better revenue wise cause there are less properties to choose from."

Theoretically, perhaps.  But I could also see scenario where the Airbnb ban would negatively impact vacationers.  Although the market can probably absorb way more than we realize, I doubt that could happen.  But with a little basic market research into your area, I think that fear can be mitigated.  Nor do I think airbnb has THAT much power over a market if it is big enough.  

I think you mentioned it (but in different language than we use over here), corporate rentals (1-3 months) is a great revenue source that has doubled our rental income on some properties using a third party management company.  If we had an in-house management team, then it would be 3-4x revenue in our market.  As well, we have come across another cool model recently that we have our eye on where they rent each room to individual renters.  It seems to 2x the traditional LTR model.  Here is the company we have been looking at due to this model: https://www.padsplit.com/

Yes!  Message me and I can shoot you his number.  I work with him in our RE Investment business @Marcelino Latina

Great question, Alicia.  

We launched our company in July of 2021, so we are extremely excited to hone in specifically on vision and scaling!  Some ways we are doing that is we are creating systems to streamline analysis, lead generation, and property management.  Our goal right now is to get our ducks in a row so that when we grow it will be sustainable and life-giving, rather than chaotic. One thing we are especially doing is doubling down on our vision.  As it is said, "Without vision, the people perish".  I am a firm believer that vision is what will drive you towards the relationships you want to be in and the places you want to go.  

Good luck and a peaceful and prosperous 2022 to everyone!

@Heyward Lovett -- Simcha has a great point!  I am just getting started in this world and am learning a ton everyday.  What our firm is doing is we are looking at a couple things: 1) Market future appreciation (who can really predict this?) 2) Revenue stream.  It has been pretty balking dealing with real estate in general, but the more I sit with it, the more investments make sense if the rental income or potential revenue upside makes sense.  We have had to be extremely creative in our last couple of deals.  But as I am learning, "You make money by solving problems".  We are involved in a project now that has potential for huge upside, but we were told that we would be "chasing our tail" in pursuing it.  So far, it has turned out better than we expected.  We shall see how that plays out in the long run, though lol.  So that is a long winded way of answering your question... how are we overcoming this obstacle?  Reframing how we look at investments and GETTING CREATIVE!

@Christof Gardet --  Congratulations!  The Virginia Beach market is an amazing place to be.  We have a real estate investment company and are based out of the Beach.  Would love to connect!  Let us know if we can help you in any way with connections, contractors, or any other way since it seems you are based out of Richmond.

Blessings