All Forum Posts by: Jake Boyer

House hacking and rent by room are great options in this market that generate FAR greater cashflow than single family rentals and allow you to use your owner occupied loan options. Happy to chat more as I've got some experience here and have THE BEST realtor in the market for this! DM me if you want to talk more. 

Hey BP,

My name is Jake and I'm looking to find some help with managing current properties as well as other Real Estate Investment tasks that I don't currently have the time for in my growing business. Ideally this person would be hungry to get started in the Real Estate game and willing to learn from myself and my partners who have moved quickly into investments with multiple strategies in motion.

This person would ideally be:

Self motivated

Coachable/Willing to learn

Available for at least 10-15 hours per week with potential to grow into full time

Highly organized

Adept with Microsoft office programs

Have reliable transportation

Job duties may include:

Monitoring of property management software for new leads/inquiries

Scheduling and showing properties when units are vacant

Managing maintenance requests, scheduling bids and contractor work

Streamlining and developing SOP's and systems for smooth operation

Managing accounts receivable/payable to ensure on time payments

Filtering email communications

Building and growing social media presence

Finding, analyzing, comparing and presenting potential investment opportunities

Etc.

Position will be based at their home with responsibility for travel between Kent and Tacoma and surrounding areas as needed. As for compensation, this really depends on the skills the right individual brings to the table, but may be anywhere from $15-$30/hour with potential to earn commission and/or equity position in investments. In addition to the financial compensation you'll be given the tools to learn form a team of individuals who have taken a running start into real estate, have capital to deploy into other investments and are willing share everything we've learned along the way to help you get started on your own Real Estate Investing journey!

I would have killed for an opportunity like this years ago before I got started and am hoping to find someone who wants to get started, but needs help to get the wheels turning, whether through financial means, education, or an actionable game plan. Please message me if you're interested in learning more and we can set up a time to talk more.

Thanks!

Jake

Quote from @Malcomb Stapel:

@Jake Boyer  I hope you have more pics. We love the Branson area; especially lakefront property. 

I’ll definitely add pics as the build progresses! This property isn’t on the lake front, but backs up to the community pool and is only about 500-1000’ from the water. My next one I would probably build on the water, but partners on this property wanted some proof of concept before making a bigger investment in the area

Quote from @Valerie Budd:

Can anyone manage this property or do

You have to use the developers property manager ?

 Anyone can manage, but utilizing the management provided by the builder has some advantages. Plus we don’t want to wind up on some list in the management office that may reduce the level of support and management provided on site since the whole community is the same builder and they offer on site services

Quote from @Shannon Vistisen:

You mentioned that the builder financed the whole build. You didn't have to put up any funds while the build was happening?

We're planning on doing this now. Just secured the land and now we move into the next phase of finding and vetting a builder. We went the build route because the area we wanted to purchase in, we were getting priced out left and right.

Thanks for any advice and tips!

Yes he did, however we had to purchase the lot as our earnest deposit essentially. Lot purchase was $75k so a significant percentage of the overall cost, but builder finance allowed us to not have to pay interest during construction. I’m a BIG fan of building ground up since the cost to build typically pales in comparison to the completed value, plus the ability to have it just how you like it. Definitely more work upfront but working with a design builder helps streamline things. I would not necessarily recommend the builder I’m working with and won’t work with them again as a result of their internal issues, but fully support the process of building vs buying. Happy to answer any other questions you may have!

Quote from @Drew Sygit:

congrats

 Thanks!!

Quote from @Rebekah Hitt:

Looking at an existing STR on Table Rock Lake for purchase this week. What made you decide Branson, MO. / Table Rock area?

I like the fact that it’s a regional drivable destination and has year round attraction with Branson and the lake. I’ve got a friend who has one there and says it’s a cash cow! Anxious to get this one done and see for myself 

Quote from @Valerie Budd:

@Rebekah Hitt what size STR are you looking for in Branson?

 I’m anxious to get this one completed before looking for another, but once I have some proof of concept and can gauge the demand and performance in the market I’ll consider adding another

Quote from @Todd Goedeke:

@Jake Boyerdid you utilize the basement space by constructing a walkout basement?

We did, the home is a “daylight rambler” with one story from the street side with the walk out basement. The builder offered a few standard floor plans that are consistent with the neighborhood

Investment Info:

Single-family residence other investment.

Purchase price: $467,278
Cash invested: $75,000

New build STR on Table Rock Lake just outside Branson MO in the Jax Creek Development. This single family home is 4 bedrooms 4 bathrooms and is located in a community of STR's. The contractor also has a property management company who will manage the properties in the community and offers additional ammenities like free kayaks, paddle boards, etc. for tenants in addition to boat rentals and more.

What made you interested in investing in this type of deal?

Intended to be a passive investment, but things changed when the builder passed away and communication became a challenge with the new players. My partners and I stepped up and started putting pressure on them to perform and we're back on track now. Always been interested in the STR space and found this as a great opportunity to get into one.

How did you find this deal and how did you negotiate it?

Found through one of my partners on the deal who has other STR's in the area

How did you finance this deal?

Each partner put up money to purchase the lot with cash and the builder financed construction and will get it financed once complete.

How did you add value to the deal?

Building new

What was the outcome?

Still in progress, but should be complete next month!

Lessons learned? Challenges?

Communication is absolutely KEY! Make sure to establish tangible targets to achieve and keep a timeline with their commitments to ensure things get done as promised.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No