All Forum Posts by: George Farrell

Awesome, thanks gents!

Hey all. I'm looking for a CPA experienced in short term rentals either near Salt Lake City or near American Fork, Utah. Please drop your recommendations and any experience (good and bad) you've had with them.

@Sam Wilson

LOL, great point. I think reading and thinking in the theoretical land only takes you so far, you definitely have to jump in at some point and get your hands dirty.

I like the idea of out-of-state investing...at some point down the road. For now, though, I think it'll be much easier and less intimidating to invest in a great market locally. Thanks for your thoughts. Seriously, from a new investor (or student thereof), I geek out with every conversation, book, podcast, or action taken.

Hello everyone,

I'll just get right to it. My wife and I are new to taking action with REI, I've been learning for about 8 months now but want to take quantifiable action. Similar to a new gym-goer, I think it's necessary to start with the end in mind and ask ourselves some framework questions to have some form of direction. Without spending an incredible amount of time asking myself (because you all are the experts) what am I missing? Currently, I have:

1.  What is our why with REI?

2. What is our main focus with REI? e.g. location; number of doors; cash flow; appreciation; etc.

3.  What market do we want to invest in?

4.  What type of properties do we want to invest in?

5.  What strategy?

6.  5-year goal?

I wholeheartedly appreciate any form of helpful feedback.

Meagan,

I'd love to. We're out of American Fork but we're living and traveling in a converted van right now. If possible, I'd love to be there virtually! Lmk if we can make this work.

All the best.

Hey guys and gals.

Pretty certain I butchered a lot of this, despite taking ~ 2 hours to fill out this report. This has been my deal analysis, not sure if I even did it to the fullest extent expected, but man that was packed with lessons learned! I know for certain the numbers are inaccurate, they can't be dead correct my first time. If someone happens to have the time and is willing to help I'd greatly appreciate it. I'm new to taking action with REI and am willing to step forward, fail, learn from failure, and progress that much faster.
Edit: Also, if anyone has any recommendations to make the deal analysis more efficient, I'm all ears. I just assume that a large part of what took me so long is "you don't know what you don't know" and I'm in the crawling phase now.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

As a newbie this is awesome to read. I didn't think there were this many options to collect rent. When the time comes, I'd prefer something seamless - Venmo, PayPal, Zelle, direct deposit/mobile deposit. I don't see the convenience in checks but I'm sure there are always outliers.

Edit: New here and realized after posting that my phone number and website link (IG) would be posted on here even though it's not allowed. Oops! Please take down if not allowed, I can't quite find out how to remove it.