All Forum Posts by: James Breese

 For sure. 

We haven't made any moves because the markets we were originally looking into, ended up not looking as good as we thought once our coach got involved with evaluation. They were not trending well and he told us that he would not personally invest in those areas based upon our criteria and business model.  Since then, we've begun our search into a few other areas. Found some promising ones with our new knowledge. He affirmed our thoughts in our most recent meeting and gave us direction to further evaluate. So, we are currently narrowing down our search, getting detailed numbers, and becoming more and more familiar with those markets.

@Adam Bartomeo my wife and I are early in our real estate ventures, but the handful of things we have done, we were lucky enough to have some mentors that gave us advice. Worked out heavily in our favor. We recently paid for a coach/mentor for some newer RE ventures. We have not made any moves yet, as we just have not found a deal; but the money we have saved by him keeping us from making a poor decision has been invaluable.

@Account Closed thanks for the information. 

That is the plan. Have a JV Agreement for each property. Go under contract on the property with the seller and simultaneously a JV Agreement (attorney provided) amongst us. Then, amend as needed as the deal progresses.

I have a wholesaling LLC with a partner in Texas. We recently have been speaking with someone in Tennessee and are discussing partnering up on their wholesaling business (located in TN). Are we required or is it a smarter move to establish an LLC in Tennessee for this partnership? This LLC would only be with my current partner to go under a JV contract with this wholesaler in Tennessee. We obviously want to do things legally correct, but also as clean as possible for finances. Any advice would be helpful.

@Hjalmar De Boer we are looking in that county, too. Started working with an agent and depending on where you are, there could be some additional costs that are really to consider. For example, we are interested in a property in Naomi Lake. Our agent informed us that within the community we are looking, the HOA allows STR's but has a one-time $10k buy in.

@Tanner Woolley we're in the same boat. So far, the feedback I have gotten is not too be so concerned about occupancy. Most people are saying they have outperformed the AirDNA numbers.

@Ian Fortney Awesome, to hear and congrats! This is exactly what we needed to hear. 

@Zach Edelman will definitely go back and take a look. Thanks.

@Avery Carl We love Hill Country and has been tops on our list. We're understanding of the highs and lows, but there is a huge swing that is causing some concern for us. May be just a newbie fear, so hearing from anyone that has experience in those areas will probably put us at ease. Appreciate the feedback.

@Stacey Lancaster We are using AirDNA for a quick analysis and then Pricelabs when we feel it is worth spending the little bit of money to further analyze .

We thought some of those areas would be better than 50%, but Pricelabs has been spitting out low 30s. Definitely understand that the occupancy rates are going to be better than what is shown, but it raises a yellow flag and causing some hesitance pulling the trigger. We're not the type to have analysis paralysis, as we have bought and sold multiple properties. We just like to ensure we do our due diligence.