All Forum Posts by: Heather Brown

I had a similar request recently for my MTR in Chesapeake, VA.

Assuming this is a legit request and company, would you still require the typical application, background check, etc. on the tenant? Or is that considered unnecessary? 

Is the company vetting the client? I don't want to turn away a good deal because I require it, but don't want to not do my DD either.

@Tom Mills I live in the Outer Banks. It can be hard to find reliable cleaners and service people here it seems. I have been thinking for awhile now that with all of the shift to people self-managing someone should start a company that serves that need. I thought about it doing myself, but honestly one of the things that concerns me is being able to find reliable people to hire. I'm sure you'll find someone but you may have to be creative in your search tactics. Sorry not more help. The ideas Nathan mentioned above would be a good start.

@Alyssa Magyar I'm also trying to set up a townhome for a STR/MTR blend; at least that was the plan. The property is in Chesapeake VA and dealing with the city as far as STR's has not been fun so far. So now I think I'm going to focus solely on the MTR strategy and see how it goes. I was hoping to do both so that I would have options. Anyway, I use Hospitable for my other STR and like it. I'm planning to use Furnished Finder and Avail for the MTR. I researched all of the different ones available and for the cost/features I thought Avail was the best. Good luck with your place!

 Hi Patti, I was wondering if you know what is considered a long term rental, specifically in Chesapeake? I recently purchased a property there that I plan to focus on doing month to month rentals, like a "medium-term" and after much research online and some phone calls to the city I am more confused than when I started. I want to be compliant, but I don't want to pay/do more than is required. Any insight appreciated! 

 @Leslie Anne Morris

Who's writing the MTR book?

Congrats on getting your first property Quan. I am wanting to do exactly what you have just done in the Chesapeake/Norfolk area.

I feel that I would benefit from doing a deal like you did; SFR, MLS, conventional finance, etc. as my first deal so that I can get the process down before I start doing other more creative type of deals.

I've read everything I can, but know that the only way to get proficient is to put it into practice, which is a little intimidating. I've been in the analysis paralysis mode.

Would love to hear anything else that you're willing to share about the deal. Do you have any agent or lender recommendations? Are you using property management?

Thanks for sharing your story!

Heather

Hi Cynthia,

Thanks so much for replying. It is nice to know there are others who get what I am talking about! 

I am also just starting out, so trying to design it right, right from the beginning, to be in line with what drives me; like you said, living authentically.

Definitely keep in touch as you get started. Would love to hear about how you're making this happen. Looks like we're on different sides of the country, so there maybe some regional differences that could give us new ideas to share.

Good luck with your mission!

Heather

I would like to hear from people whose real estate investing mission is to not only make money, but to improve the lives of their tenants and their communities in some way.

Like a lot of people, I have a successful career…that I absolutely hate. I want to pivot to something that is in line with my true self and live authentically before it’s too late. That’s how I ended up looking at real estate. It checks a lot of boxes for me. I love the search, analysis, maps, possibilities, etc.

But I was left feeling like, is my mission in life to collect houses? Something rang hollow.

Because of the soul searching, I have been reading books and doing some programs trying to figure out “my calling”. Currently doing The Artist’s Way. There are a lot of questions throughout about what I did as a child, interests , traits, etc. I have been reminded on more than one question that my natural drive was to want to help the underdog, the kid getting picked on, the homeless. To be clear, I’ve never been into care taking, but in helping people out of a bad situation by empowering them somehow. There’s a difference.

So of course, I thought, why can’t I focus my real estate investing on this mission somehow??

Enter serendipity when I saw today that Coach Carson's latest podcast episode is about exactly this thing! He interviewed Charm City Buyers who are revitalizing areas of Baltimore with their REI. What they are doing inspires me like crazy and found me at exactly the right time.

So, who else is doing something like this? Or helping improve lives and communities some other way through their REI?

I would love to hear your stories and get more inspiration. And open the dialogue for those interested to communicate and network.

#REIrevitalization   #REIwithaconscience  @Chad Carson