All Forum Posts by: Dunn Dela Cruz

3 years ago when I first started my REi journey I thought I could do everything myself I’m big on DIY… (I did just that, I launched my first rental just like most of yall *BP,Youtube,books, I literally didn’t know what a mastermind even was , few months into my journey I started to feel stuck and couldn’t get the answers I needed.

 ran into a few of Jesse’s YouTube interviews and I was hooked on MTR (Travel nurses was topic during this time) I tried doing it myself and failed countless times and I wasn’t sure If I was even heading towards the right direction. 

Once I saw the opportunity to learn from the MTR king I jumped right in (was I scared ?… heck ya… but I was more scared of being stuck in the same place and losing money on this new rental I just launched, I was a 100% newbie)

I personally came into the mentorship program just to learn how to get travel nurses in my rentals (at the time it was my 1st rental property) . 

I definitely learned how to get travel nurses in my rental but more importantly how to properly run a midterm rental business and get contracts with insurance companies and other industries I didn’t even thought of reaching out to (I learned more than what I thought of just by being surrounded by people with the same goal, and everyone was gracious enough to help guide me along, sharing their experiences and all the nuances in the journey that cut my learning curve/time). 

The community is supportive and provides deeper insights on those ‘brain racking’ questions about MTR that you just can’t find anywhere else. 

I’m 3 years now into my REi journey and I’ve been free from my w2 and have all the time with my kids and got the house I promised my wife . My life completely changed after joining the mentorship.

This is certainly the place to learn , network , and grow your MTR business. 

sounds great! Ill be there, this will be my 1st meetup 

Hello Everyone,

Its 2022, Ive searched recent forums here on BP that would be in relation with todays current market and my questions/cry for help.

I was almost "pass the finish line" today with obtaining a HELOC on my current rental that I have.... then the credit union realized it was a rental property after looking at my property's insurance declaration (SOLE PROP, VACTION RENTAL)😓 .
I spoke with 5 smaller banks/credit unions, so far its a no-go on a Heloc. Any tips on getting a HELOC or using the equity in my home to purchase another property?
I feel like Cash out refi don't make sense because I don't want to mess around with our current interest rate which is pretty good.

any advice would be great, maybe I'm missing something🧐.

Same question for me, hoping to find the answer here. I have a Traveling nurse that is traveling with her husband and 3 little kids. I don't know how I should go about the "Mail Access". I was thinking to offer them to just get a PO BOX and I can deduct the difference for the their PO box. 

Quote from @Jason Malabute:

Quote from @Charles Renn:

@Jason Malabute, my team and I work primarily with multi-family investors. How can I help?

I started my own chapter of the Multifamily Masters in Glendale/Pasadena. I am always looking for guest speakers and telling people to swing by our events!

 Hello Jason,

I'm new to REI and we just launched our first STR in April in Valencia Ca.

Looking to meet new people to help and learn from. We are in the works in planning our next move in REI, I would like to know more information about your events in Glendale/Pasadena, I'm located in the SFV it would be an easy drive specially if we can bring value to each other's team.

Hey BP,

I just heard about this new loan for firsts time home buyers in California.

It’s called the Forgiveness Equity Builder Loan.

What do you guys think about it?

Here’s a part of what CalFHA.com has in it 

https://www.calhfa.ca.gov/home...

Home equity has proven to be one of the strongest ways for families to build and pass on intergenerational wealth and CalHFA is committed to improving equitable access to homeownership for all Californians. The Forgivable Equity Builder Loan gives first-time homebuyers a head start on this with immediate equity in their homes via a loan of up to 10% of the purchase price of the home. The loan is forgivable if the borrower continuously occupies the home as their primary residence for five years

The Forgivable Equity Builder Loan is a forgivable subordinate loan program that may only be used with a CalHFA first mortgage.

Quote from @Ron Brady:

We use and like Stessa

 thank you i will check it out! i was looking into rentredi,cozy,zillow for landlord software to get help with lease agreements, rent collection, and all other landlording tools, do you use any of these landlord software? if yes/no, why? I understand picking one would be the only way to find out what suits me, but i feel like im getting stuck with "analysis paralysis ". appreciate the help!

Quote from @Zeona McIntyre:

I've found American Modern to be as affordable as long term insurance and I have never had to lean on my insurance for a short term claim, I've always gone straight to Airbnb or VRBO. 

For Medium-term rentals, I just use a regular long-term rental policy since it's over 30 days. Another plus for Medium-term. 

 Thank you for the tip much appreciated!

Since I'll be doing both STR & MTR on the same condo, would regular long term rental insurance be fine along side with the VRBO/air BnB insurance that they offer ? How would you do it and why?

Quote from @Jon Crosby:

Foremost

Is it a good idea to keep my homeowners insurance while obtaining a STR insurance? Also I will be renting out my condo as a mid term rental (to travel nurses) does STR insurance fall in the same category or is that a whole different policy?

Quote from @Michael H.:

I also use TenantCloud and am pretty happy with the software. Prior to that, I was using Cozy (now apartments.com I believe).

I was looking into marketing to traveling nurses as well, because one of my properties is near a major hospital. Would love to get some insight on how you were able to find the nurses, and what kind of terms you were able to get for your rental.

  Hey Michael,
I was originally going to make my condo a LTR but since I need the Cashflow I learned about MId term rentals. I have Healthcare background and a lot of friends who are nurses, that is how I got my 1st future tenant, their contract is usually 13weeks minimum with chance of extension and cancellation. My tenant will be staying for 3 months and most likely will extend. Check out Jesse Vasquez mid term rental on YouTube, and I believe there is a recent podcast on a Midterm rental in BP. just like air b&b but more reliable sources since traveling nurses are high in demand. You can also join Facebook groups that’s all about traveling nurses. Furnished finder.com is a good way to start and see how much your comps are. Best wishes!