All Forum Posts by: Dustin Verley

Welcome to BP @Steven Lebischak - Of course, I'm clearly late, but better late than never I suppose.

Keep us posted and let us know how your ventures go. Similar to you, I worked a swing/rapid rotation shift myself that allots me some extra time each month, but there's also life in general, and family, that makes time management more imperative then anything.

I wish you the best in your ventures. Again, keep us posted.

@James Masotti Said one thing that, I myself, feel sums it all up. Although neighborhood classifications can be useful, they can also be complex in the sense of the variables, much of it being subjective rather than objective.

Rather than assume, I'm curious to know if many of the parts of downtown Wilmington market you mentioned are best for buy-and-hold investors who are renting rather than fix-and-flip?

Hey @Tim Steward - in conjunction with what Eric said, there is some questionable areas around campus, especially the two streets west of Wesley College, so be very particular about the property you're looking at. State Street and Governors Ave (which encompasses the East and West side of campus) aren't too bad, although they are quite busy.

Just be very, and I do mean, VERY, careful about Kirkwood, New, and Queen Street as these can tend to be rougher streets.

Many who do this business remotely have developed some solid systems in place that alleviate the need for a physical presence, along with some "boots on the ground" as well. Overall, it comes down to learning the business and the remote markets you're trying to penetrate. As for the REIA meet ups, I would say an Uber would work fine (just my personal opinion.) After a couple connections, maybe you can network with someone at the meet-up who is heads in the same direction and would be willing to give you a ride.

@Tracy Z. Rewey That's right, Fred... I knew it started with an "F" :)

In either circumstance, one of the things that intrigued me about notes back then, and still do to this day, is the ability to purchase full notes and/or partials, and how dynamic one can be in the purchasing of cash flows. I hope to one day get back in the habit of engaging in cash flow notes again.

Which leads me to one last question... in your journey in real estate investing, have you ever completed an owner finance deal with a homeowner and sold a part of your future cash flow? I'm curious as to the process. Did you create a contract between you and the "note buyer" who purchased those future cash flows (creating a partial note), separate from the agreement between you and the seller that is in place.

Hopefully that makes sense, if not, feel free to let me know and I'll clarify.

It may come off as sounding silly, but I'd pay someone to drive me around. Better yet, I'd hail an Uber or Lyft or something. That may actually work out twice as good as you can build relationships with these drivers to send you leads if they find any.

@Account Closed As mentioned above, the usage of a room, whether day use or overnight, isn't always about sleeping and relaxation realistically. At the end of the day, the ultimate goal is of that, yes, day use would be in conjunction with overnight renting as well. Of course, as we've touched on, the turn around would be slightly higher, but could still be a possibility with the right planning and coordination. For instance, if you utilize a full-time housekeeping staff, it may also be wise to have a couple of housekeeping staff report on a different schedule to accommodate day-use rooms.

I really don't see day-use rooms being an explosive seller, so wouldn't need a dedicated staff for day-use rooms. Again, that's just my opinion.

Something interesting I learned last night while planning for an upcoming stay in NYC. Being as how I am taking the family on vacation, traveling NYC for a day trip as part of the vacation can be tiresome to the little ones. After researching, I found there is a new company called Nap York. In brief, they allow "rent by the half hour" pods that allow you to catch a small nap. The downfall: They're an "18+ and over only" establishment.

This drove me to search more, and find, that there are some hotels that book day use of rooms rather than an overnight room. Something to allow you to get a quick nap, wash up, or whatever it may be, for a few hours. One place even allowed you to book by the MINUTE (for instance, a $30 service charge, plus $0.16 cents a minute) with a $70 minimum (meaning you would have to book AT LEAST four hours.)

A further example: One hotel allows you to book a room from 2pm-8pm for $100. Yes, this is a little steep, but the same room rents for around $300-$400 for an overnight booking, so there is SOME affordability there. And it beats trying to find a nice quiet place in the city to catch a nap, or get a few minutes of quiet time to unwind, or even complete some business work (used to think Starbucks served this purpose.)

An interesting concept that has lead me to wonder if anyone else is taking advantage of this in conjunction with their AirBNB strategies, or any other strategy. On the surface, this may not be as popular as the high turnover would call for prompter housekeeping and cleaning, but none the less, was an interesting concept.

@Tracy Z. Rewey I actually remember when I initially began looking into note investing some years back (probably about 10, roughly) - you and another gentleman I believe had a training course out, or book(s) or something. Ironic to actually cross paths here. :)

In either circumstance, notes have always been an interesting topic to me for the variety of what could be constituted a note and what you can actually add to your note portfolio to diversify other investment vehicles in the grand scheme of ones portfolio.

I do have a question though, do you know anyone who has invested in lottery winnings? This was one of the things I learned about in the training course I took back in 2009, and thought it was interesting (I'm assuming by lottery winnings, we're talking about those winners who opt in for the annuity payments.)

Thanks for responding!