All Forum Posts by: Jonathan Greene

If you've never done STR, you might find an easier go doing MTR and still listing on the STR sites as well. MTR is a different vibe and less amenities although yours sounds like it would just be for a stay in the city. You need to give more information about where it is in South Minny and why people would come for STR. MTR gives you a wider scope, longer stays, and less turnover and wear and tear.

Nice. I haven't been to the courthouse auctions near me in a long time because there was nothing there, and the same people every time. This is a good reminder to check the dockets and see what's out there.

Your first investment isn't going to be in a foreclosure. Those are all cash purchases with no due diligence. You need to present more background and ask better questions to get better answers.

I agree with the other guys above. Condos can be steady, but more and more, their insurance is going up along with assessments depending on the age of the development build. HOAs are mismanaged more than a rest stop Sbarro. At 63, you want to figure out your goals. If they are cash flow, you want to stay in active assets, but might like sell and pair together with your existing capital into a small to mid multifamily apartment built after 2000. Even if you hire property management, you can manage them and have all of your doors under one roof.

Your approach is good, but you need to do it in person and after you already know someone for 3-6 months. You have to build trust to become a mentee of someone who has experience and is busy. Anyone can say that they are going to work hard for free and be an asset, but most people just say that to get advice. Build relationships at meetups and don't ask anyone for anything for six months, just ask them questions about their business, not for help.

Trying to do creative finance deals when you have never done a deal is like going to Italy to make the best pizza when you only have made Stouffers at home in your toaster. Describe what you mean by trying for 18 months and answer @Chris Seveney.

What have you done for marketing?

How many real estate investor meetups have you gone to over those 18 months?

How many real estate investor friends do you have?

Where are you learning about creative financing and who told you that is a good way to get your first property?

The forum replies here are an example of almost everything that is wrong with online real estate investing forums. The OP is at the very beginning of his journey, just looking for some encouragement, and what he has gotten is a ton of false welcomes (not all, but most) and misguided sprays of out-of-state market beggars. He didn't ask for markets and no one even has an idea of what his finances look like to even give him advice. @Frank Martinez, I bet a bunch of people slid into your DMs also to "help" you. Delete all the messages and find some local meetups where you can meet other new real estate investors who are doing what you want to do. Don't take advice from people before they know what your foundation for investing looks like. If your career feels like a dead end, that's not a reason to invest because you won't be able to build a runway with a career you hate. You need money to invest so finding a job that you don't hate and that has upward mobility is a key.

@Remington Lyman can point you in the right direction.

If your wife is up for a house hack, you should definitely house hack next. You wouldn't have to put 25 percent down to do it as you would be occupying the property. You will be making straight cashflow on your original property, but would be better served renting it to one party for a long-term rental to start. If you experiment with rent by the room without experience there, it could be a headache. You should definitely do all repairs before renting it so you reduce the calls you will get.

Ninety percent of agents have commission breath and are useless. Someone told them to talk to every FSBO seller without telling them that some FSBO sellers know ten times more than them and it will be a bad experience for them.

The real question is why are you listing your flips FSBO? It tells the public you are cheap in my opinion and don't want to spend on proper marketing or think that all agents are the same. Most are, but not all. A good flipper should have a good relationship with the best listing agent in the area and pay them a good commission so you don't have multiple flips for sale at the same time.