All Forum Posts by: Jonathan Cope

@Richelle T. 

I hope you enjoy the content. 

Leave me a comment if you do. 

Are you successfully using creative finance in your work?

Thank you,

Jonathan

Today I finished @Brandon Turner 's new book on creative finance.

It was terrific.

Thanks to BP and @Joshua Dorkin for publishing it.

I'll admit that I did not expect to learn a lot, as I have been investing for a while.

Turns out I was wrong.

Most of the concepts were familiar but the spirit was different.

It was more creative in its application of concepts than I would have expected possible.

As I went for my run today, I found myself re-planning my up-coming portfolio refinancing.

I was delighted by how much the book made me think more creatively.

Post run, I decided I would deploy a suggestion from the book.

But which one?

How about start blogging?

Done.

I have now started a blog, here on BP, about my experience as a landlord.

Hopefully some of you will enjoy it. You can find it via my profile.

I would be interested to hear your thoughts on the actions you are taking or impressions you have had resulting from your read of 'The Book on No and Low Money Down'?

Has the book made you think differently?

Are you taking new or different action as a result?

Thanks in advance,

Jonathan

@Eric Urioste 

Welcome to BP. 

Your multi-family house hack is a great way to begin investing. 

@Brandon Turner has written a number of good pieces on this approach. 

Search the blog posts for house hack. 

He may even have a YouTube video on the topic. 

If you have not done do, try listening to the free podcast shows via iTunes. 

A number of the guests are from Arizona. 

They'll no doubt help with your learning and acclimation. 

Good luck,

Jonathan

@Matt Heath 

Your ambition is evident. 

I suspect it is one of the the reasons so many people are responding to your thread.

The advice is our pleasure to give.

No doubt you'll pay it forward in the future.

During the podcast shows you'll discover The Famous Four.

Consider reading some of the books recommended during that portion.

They'll be invaluable, and many are free via Amazon or YouTube.

Do you work in Real Estate? 

If not, consider finding a way to apprentice with someone respected who does.

At a minimum, follow people here on BP that live and work in your part of the world.

Folks like @Dawn Anastasi 

Good luck,

Jonathan

@Matt Heath 

Remember that early in your investment career education is often the least expensive and most powerful asset type to accrue. Spend time learning to become an excellent landlord. 

Learn how to automate your responsibilities in the spirit of The Four Hour Workweek, a @Brandon Turner favorite. Also, work to build your network of investors, lenders and vendors. Know which plumber you will call before you need one. Get as much of your four-plex on auto-pilot as practical.

Doing all of the above will fill some of the seasoning time until your refinancing. It will also put you in good stead to be a multi-four-plex owner. You'll be adequately prepared to serve 7-8 clients or more and have a life. 

Do find partners. Learn from their successes and mistakes. If you have good experience, credibility, a solid reputation, and find an excellent next deal, the money will find you through your diligence and efforts.

If you have not done so yet, listen to all of the podcast shows as hosted by @Joshua Dorkin . They are an excellent and free case study based classroom. They will reassure you that finding more money is an insignificant problem along this journey. 

In particular, consider listening to the podcast show featuring @brie schmidt. Her approach to budgeting might help you find the funds you need faster.

Good luck,

Jonathan

@Dawn Anastasi 

You might want to send Karen Rittenhouse from podcast show 2 a note for advice.

Per her conversation with @Joshua Dorkin and @Brandon Turner , Karen had done a few hundred subject to transactions as of 2013.

Her contact email -outside of BP- appears to be: karen at karensperspective dot com.

Good luck,

Jonathan

@J. Martin 

Your next steps sound exciting.

I always enjoy it when we are finding a new advantage to pursue.

Even when the new advantage is tiny or immaterial it is fun and smile worthy.

The models I observed in Spain seemed to benefit greatly from multiple listings in a single building, as you are planning.

I've been impressed by what will rent. 

Your smaller place no doubt will attract demand.

Many folks seem to be looking for just a place to rest their head inexpensively.

Thank you for sharing your thoughts and plans.

Good luck,

Jonathan

@Les Jean-Pierre 

The news from New York about AirBNB is interesting and likely trend setting.

I read last week that Stephen Ross of The Related Group has asked his residential property managers and tenants to keep an eye out for AirBNB use in their properties.

As the deep pockets (aka bigger), large owners such as The Related Group likely want to avoid being accused by NYS of supporting a concept that requires regulation.

Many cities globally follow New York's lead on policy (e.g., the smoking ban in restaurants). 

So it will be interesting to see how the administration and voters end up expressing their views over time.

Good luck to you as your business expands.

Thank you for sharing your thoughts,

Jonathan

@John Van Uytven 

It is really nice to get a report from Seoul. 

I hope the meet up was terrific. 

@Joshua Dorkin shared a tweet of it with me yesterday. 

Looked to be a great meet-up. 

Screening prospective AirBNB tenants in such a share model seems important. 

A great part of the social nature of the platform and ones like it. 

Avoiding insanity, assuming it is not the workout, seems best. 

Thank you for your thoughts. 

Safe travels,

Jonathan

@Karen Margrave 

That is interesting, and not surprising, to hear about the short-term rental market along the CA coast. Demand to be near such a lovely coast during holiday breaks must generally be consistent. 

We enjoy much the same along New Jersey's coast. Even after Sandy and the 2007/8 crisis demand for beach front rentals remained fairly strong. 

Whole business lines of property management and AirBNB seem to be well-supported by the seasonal rental market. 

We've enjoyed visits to North Carolina's outer banks (OBX), and the same appears true there as well. @Robert Bowles noted his success in ski country. 

So it is nice to see that the model has legs in a number of locations. 

Good luck with your speculative project. 

Thank you for your thoughts and the links, 

Jonathan