All Forum Posts by: Chase Fisher

I’ve managed renovations on several personal projects while working 9-5.

Challenging? Yes. Doable? Absolutely.

Here’s how I managed my time:

7:00 am – Meet with subcontractor at property on my way into work

9:00 am – ignore call from sub because I’m in a work meeting.

10:30 – while others are taking a smoke break, I call the subcontractor and answer questions

12:00 – Lunch break – call the next trade subcontractor, arrange an on site meeting after work hours.

5:00 – Meet a subcontractor at the property, ensure clarity on scope, discuss any questions.

Friday afternoon – write checks to subcontractors.

Saturday – Spend 1-1.5 hours at property reviewing work from the week, making a punch list. Planning out next steps.

In all, this was probably less than 8 hours of my week, and it didn’t feel like that.

Stop scrolling social media and build something that matters.

You have the time, just need to reorient.

Drop a comment with any additional "time creation" methods you use at work! What is 1 small change you could make this week to have extra time for a side hustle?

Good question! 

1. Acquisition ($3,500), various materials (subfloor, flooring, paint, water heater, sink, countertops, polishing materials. A lot of sweat labor went into it which saved a ton of money. They are great how to videos about airstreams out there.

2. Honestly I'm a little mad at myself every day for selling. I had 3 other partners in it and they were ready to move on and do bigger projects.

3. I have not, but there are some of those out there and I think they are fantastic! I don't think the original bathrooms or kitchens in airstreams are great as-is for Airbnb use...but they can be replaced and end up being great!

@Greg G. No, you likely don't need to be worried about these. Cities and counties almost always make exceptions for things that were done prior to modernized zoning and permitting requirements. They may ask you to bring it up to code on life safety items. I would engage the responsible jurisdiction building department on this. Tell them what you are looking to do. Generally, they will help find a path forward. 

@Fok Ming I like to think of investing in multifamily through creating my own value. I like investing in areas that are still a bit sketchy but close to good or growing parts of a city. If you buy lower, the chance of you making a mistake that tanks the deal is much lower. I also find that rents typically vary little between bad and decent parts of town so you may not necessarily be getting much lower rents due to location. I'd suggest you learn the basics, pick a project, and go for it! Definitely don't burn all your cash on your first deal.

How I learned everything I needed to know about real estate by developing an Airstream food truck:

This was my very first real estate development project that wasn’t my personal residence. I was itching to get started and to do something, even though I had little experience and even less money. What I didn’t expect is that I would learn the pattern of real estate development from this $10,000 project.

Find & Acquire ✅
Budget ✅
Negotiate Contracts ✅
Create a Development Plan ✅
Finance the Project 💸
Oversee Construction 🛠
Lease 🤑
Sell

I find that regardless of the type of project you are developing, the pattern is the same. I'm going to start posting more info here on my own real estate development journey and sharing essential strategies for getting into development. Let me know what is most interesting to you in learning the tools you need to be a developer!

I did a cash-out refi on a short term rental that had been on Airbnb for several months. My DSCR was more than 2.0 so it was a pretty easy sell for the bank. Showed them my proof of income for that period of time. Is it close enough so that you can rent us for a month or so to prove your rents? Otherwise, I'd suggest you just keep looking for the right bank, especially one trying to grow their footprint in your area.