All Forum Posts by: Jonathan Greene

Welcome. I would sell that property in IL and chalk it up to a learning experience. If you are just carrying it, why keep it if you know you made a bad deal? Just take the loss and repurpose the downpayment capital into something better. Where are your STRs in NJ? I would also consider MTR in these markets as it is highly profitable with less turnover and more options for guests.

This is exactly what I was thinking - that the one-off buyer just isn't their client avatar at all so the PM company is checked out on it.

Why did you choose Roofstock for a one-off investment property in the first place? They are billed as "a scientific approach to single-family rentals" and use "institutional grade property management," which usually means they are a tech company in real estate and likely either don't have the existing property management relationships in each area or you chose an area where they don't have enough units through Roofstock for the PM they chose to care. If the property is good, fire their property management. How many times did you reach out to Roofstock and to the PM company?

@Garrett Brown may have advice on where to start and who to start with as he experience in glamping that is relevant.

If it's just a two-family, or really with any amount of units, I would send the same notice to all parties so it's clear that it is addressed to everyone (even though it's because of one tenant). The quiet enjoyment mention is very relevant as everyone is entitled to that. It's your job to create a buffer between the tenants before they start fighting as well.

Welcome to another New Jersey investor. The tough part about New Jersey is that it is very competitive and very tight on inventory right now. If your goal is passive income, it's not going to be in New Jersey when you factor in cost to purchase, management costs, and rent to price ratio, but what you can get is steady appreciation. There are a lot of local meetups in Northern New Jersey that you can find in the Events and Meetups section of the forums as well. Good luck!

Thank you, I am hoping Dave drops me into On the Market one day when someone is out of town. On the "most will not cash flow", I meant it as an expectation of rates vs. output. A lot of people who ask about international don't have cash so it's even less feasible to do as they don't understand banking in other countries. Even if they have cash, the management expectations + distance will usually make it more of a hassle unless you are really buying it for you to use and rent out whenever safely. I agree with what you said about Ladislas as well. It's his niche, but I think he is very helpful for people who know nothing about international investing because there are some good overviews of the viability of the markets and regulations of STR. You made some great points.

2m isn't enough to retire on, depending on how old you are. For people with kids, they want to leave a legacy to make life easier for the next generations since none of us know what the world will look like in fifty years. Like 90 percent of lottery winners are broke in less than five years because of thinking like this.

This makes no sense at all. You are just throwing money away and will eventually fall victim to squatters. You might appreciate, but most people who do this, have no strategy and also no oversight so things go wrong and they never know. If a pipe bursts, how will you know since you have no tenants so likely no management?

It sounds like you could just do a partnership with two other people. There is no reason to look to syndications if you want to buy soon because it takes a long time to get all of the things in order. Tilden Moschetti is a good follow, he is a syndication attorney who does syndications hiimself.