All Forum Posts by: Jarrod Deshields

Hi @Marylin OShea, how did this deal turn out for you?

@Matt Deutchman did you find what you needed in the area?

I'm looking to connect with anyone with experience in ghost kitchens (dark kitchens, mobile kitchens, etc.). I've looked over the details of the business here and there and I think its something that can work in my market. But I'm having trouble finding solid info. I also don't have ties to the restaurant business. I'm just here looking for possible insight and a few ideas.

@Jim Goebel I appreciate the comment. "Keep the faith" is wisdom enough my man. Thank you.

Hello BP family!

Its a little while since I've posted here in the forums but I kept telling myself to get back to it. So here I am. Now...where to begin?

Without going TOO far back in my REI journey (almost a year) I'll try to illustrate my current position. Starting the beginning this year, I've really thrown myself into researching real estate investing & finance. Along the way I soaked up lots of knowledge thanks to BP, personal connections and other means. NOW. I'M READY. TO APPLY IT! But I'm also fully aware that I have to be patient. I talk to family and friends (ad nauseam) about investing and a few of them have expressed interest. In July, through my realtor, I was able to basically talk my way into an ISA position at a Rockstar brokerage in my town. Much more than I expected. But the experience in cold calling would help me overcome nervousness months later. The position didn't last long but the OJT got my wheels turning...

This might end up longer than I planned lol. Bear with me..

I guess I should've mentioned earlier that I'm a full time night shift worker with, now 8 month old twin boys. Oh and they don't go to daycare. So needless to say trying to ISA from home or squeezing in a few hours at the brokerage was a task. One I was up for. But "Best-laid plans" right? During this tine I decided to pursue a real estate license. Fast forward a bit to September. I FINALLY bought the course for my license! I've gotten more comfortable on the phone. Especially talking to banks and HML. My network is slowly building. The more I talk real estate, the more "somebody" knows "somebody." Things are beginning to look up.

But my issue is this-BALANCE. Currently working nights would allow me to say..manage a flip. Or once licensed, show homes. But it also cuts into my family time. Normally (prayerfully) my boys are asleep when I get in. And on the days our sitter comes, I'M asleep while they're up and active. I'm beginning to detest the whole set-up if I'm being honest. On the flipside, working days would immensely increase my family time but limit my productivity. Thus, my hunger for financial freedom. My WHY. Meanwhile I'm right on the cusp. I can feel it. So I'm committing to more learning, more networking and more interaction here on BP.

I'll wrap here. Thanks for reading. And thanks for contributing to the community. Stay tuned for more NEWBIE Chronicles! 

@Jarrod Frankum

Great job! And great name 👍🏻

@Kyle Gilbert thank you! REALLY good info. 12 month leases set up like that sound much more painless. I'm not so sure about equal responsibility on the rent. Don't want to have the chance of a possible rift between tenants. There goes at least one tenant and the other 2 might not be able to pick up the slack. There goes the other 2. But..worst case.

But overall that all seems to be a sound strategy. Happy investing.

@Mike Lee makes sense. Personally I'd RATHER have the underclassmen simply for the possibility of having them for the duration of their studies. But I can definitely understand where a senior or grad student would have more dependable income.

@Perry Farella VERY valid points here. A few I hadn't considered. I'll have to go back and work my numbers for multiple scenarios. This is good stuff.

@Perry Farella thanks for the feedback.

Yes, I do plan to live in one unit for about a year. Or whatever timeframe required before I can refi. The cash flow numbers are representative of both units being rented.

I never thought about the payment by semester. Would you consider that quarterly lump sum an advantage or disadvantage? I'm thinking here about the possible eviction (worst case) and the possible effect on my annual return.