All Forum Posts by: Jeremy Salo

Hello all, so myself and 2 others are currently raising capital for a BRRR. We have been raising capital and gaining knowledge for about 4 months now. Our goal is to have 15k each to put towards this project by July 1st 2022. That being said, 2 of us are working hard to gain knowledge/connections and the other hasn't done much work at all. Having known the other person for a while, I don't think he's going to be reliable in putting in the work down the stretch. Maybe I should have chosen my partners more wisely, but this dynamic opens up an opportunity. Originally, we agreed on a 33% split for everything, but im going to renegotiate. I'd like to have the people who have shown a work ethic to commit to an even split of the work, while the other person is more cash but no work. This works out as his finances are in the best shape out of us and he has a connection to a great banker. My question is, how would you structure terms if you were one of the 2 people that are working hard? Like what percentage should I reasonably ask for? I'm spitballing 25%, 37.5% 37.5% if we're putting up 20k, 15k, 15k respectively.

@Zachary Collins also hoa, when applicable.

Hey all, what are some resources I can use to find information on population data, job growth and/or crime rates?

Hello all, I am thinking about getting the PRO membership for BP. I would like to hear opinions on this, is it worth it? Also if anyone has the most current coupon code that would be much appreciated.

@Jacob Repreza how are the regulations for str's in Cleveland? I thought it could only be a primary residence?

@Joe Prillaman It's variance playing out. Not enough sample size.

Hey guys, just analyzing my first example STR/VR. I've read that in order to properly estimate utility costs for an area, one just has to call up the local departments. This might seem basic, but what questions should I be asking them? Do I give them the details of a property and they estimate it or do they just give an average? How do I get these estimates broken down by month? I live in mn, winters are long. Also, if anyone has any books on STR/VR I'd be happy to hear your favorite!

@Glenna Wood there is demand in winter months, just having a hard time gaging how much in this market. I'm excited to look into duluth MN.

@John Underwood problem is, occupancy rates seem all over the board. Without many comps, I'm looking into other ways of coming up with a reasonable %. I'm thinking of talking to local agents and also VR hosts, although I don't know how I'd get them to agree to hand over that info w/sounding like I'm their competition. My thought is offer them some simple labor in exchange, but other than that, I have no other ideas.

@John Underwood problem is, winter is long in Northern mn.