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All Forum Posts by: Jonathan Hankins

Jonathan Hankins has started 0 posts and replied 37 times.

Post: Whose Name Should Utilities Be In??

Jonathan HankinsPosted
  • Rental Property Investor
  • Posts 37
  • Votes 28

I would definitely have them in your name. It's just easier that way. Hopefully you have found a good property management company - but more than likely you will have to change them at some point. That just adds a level of headache you don't need.

Just my 2 cent though :)

Post: Turn my primary into an DADU STR or Downpayment on a new property

Jonathan HankinsPosted
  • Rental Property Investor
  • Posts 37
  • Votes 28

I like where you head is at man. You have to get some income one way or another, and either way you choose will be better than doing nothing at all. I LOVE the idea of tiny houses... but I have never seen a situation where the stupid things aren't so expensive that you feel like you shouldn't just build a proper structure. I am out in Las Vegas, and here at least, the water and sewer hookups are such a high percentage of your total cost that I have never seen a case where anything but traditional structures were put up.

There are definitely cash-flowing short term properties out there if you want to the route of just buying an investment property - but I don't think Seattle would be my first choice for a market, so that may add a little complexity.

Good luck out there!

Post: I'm Just starting out. Experienced BRRR'er.

Jonathan HankinsPosted
  • Rental Property Investor
  • Posts 37
  • Votes 28

Hi Azu,
BRRR is a really great idea when the market is going up, but guess what - so is everything else. Guess what else? The market might be done going up for a while :) It might even go down.

I would look at high demand locations for the current market. I don't know of anything in Seatle that makes sense, but there are plenty of market out there where you can get good cash on cash numbers in today's market.

It sucks, but that's how the world works. The great ideas of yesterday aren't always such a big deal today :)

Post: Should we be avoiding STR up north of NYC?

Jonathan HankinsPosted
  • Rental Property Investor
  • Posts 37
  • Votes 28
Quote from @Chris K.:

I'm in the process of acquiring a property to operate as STR in Orange County. I'm local up here, but used to commute to the city. 90 min train ride to Beacon, and 15 more to get over the bridge. Plenty of margin if you can self-manage. If not, need to make sure your PM is on top of pricing strategy and has a VERY strong handle on demand / seasonality / etc. Check out AIRDNA if you haven't already. Great for doing market research / comping potential properties and calibrating potential top line performance of specific properties.

I'm also an agent up here. Happy to help for those who might consider Orange County at some point. 


Do you work out of Orange County? I work with a coaching and mastermind group for STR investors, and Central New York is pulling attention from as far away as San Diego! I will get your info if you take clients looking out in the Central parts of the State!

Post: Should we be avoiding STR up north of NYC?

Jonathan HankinsPosted
  • Rental Property Investor
  • Posts 37
  • Votes 28
Quote from @Nick Rutkowski:

@Alexander Szikla

That would be correct. It helps I bought my houses for 25% their current value, fixed them up, and took out a loan for 50%LTV.


 Wow. 25%? Yeah, that always helps :) Anything below about 95% value is pretty darn commendable in my opinion. Good for you!

Post: Is it still a good idea to invest in Tulum, Mexico?

Jonathan HankinsPosted
  • Rental Property Investor
  • Posts 37
  • Votes 28
Quote from @Juan Carlos Gastelum:

Hello, I´m in Northern Mexico.  I second Johnathan Hankins´ opinion.  I invest in the U.S.  No reason to miss out on systematized institutional markets with terrific tax incentives in exchange for other thrills with great ocean views.  Its sad, but true.  Unless you know your way around, Mexico is still a long way from having an investor friendly environment.  Best wishes on your real estate journey, and God bless!

Hi Juan! Wishing you a Happy September 16th! The weather says a high of 92 that day here in Las Vegas, so our backyard / pool will be full :)

Post: Should we be avoiding STR up north of NYC?

Jonathan HankinsPosted
  • Rental Property Investor
  • Posts 37
  • Votes 28

Central New York has AMAZING markets right now. My company buys the Airdna data for the entire country. There are some fantastic returns out there away from the big city lights.

Post: STR "Techology Stack"

Jonathan HankinsPosted
  • Rental Property Investor
  • Posts 37
  • Votes 28

Remotelocks.com to monitor locks, battery level, and update entry codes. Turnoverbnb.com if you don't want to do the cleaning yourself between guests.

I'm sure you will discover anything else you are missing in short order :)

Good luck out there! You deserve to win!
Jonathan

Post: Stacking with House Hacking

Jonathan HankinsPosted
  • Rental Property Investor
  • Posts 37
  • Votes 28
Quote from @Ryan Thomson:

I bought my first house hack and converted a garage into an Airbnb, and rented out 3 rooms and the garage for a gross average of $3600 a month on a $1500/month mortgage. I've repeated that or something similar twice now for a total of 3. They cover my yearly expenses. You could keep scaling that way and then sell single families or duplexes and 1031 into a larger and more expensive property with more units.  


$3600 on a $1500 mortgage? Good for you man! Those opportunities are definitely out there, but a lot of people just sit on the sidelines and let them pass by. I live in Las Vegas, and a lot of people convert their garages into extra rooms. It makes a huge difference in their ROI.

Post: Is it still a good idea to invest in Tulum, Mexico?

Jonathan HankinsPosted
  • Rental Property Investor
  • Posts 37
  • Votes 28
Quote from @Account Closed:
Quote from @Ryan Overcash:
Quote from @Account Closed:
Quote from @Ryan Overcash:
Quote from @Account Closed:
Originally posted by @Mike Lambert:

@Account Closed

Let me ask you a question: Is it fair to me or to the readers to take my words out of context by omitting to quote part of the paragraph that I wrote?

For the record, this is what I wrote in its entirety, as everybody can see above:

"As pretty much everybody knows, Mexico sadly has an issue with drug/cartel related crime, that has been going on forever. In spite of that, more and more foreigners visit, move to, invest and buy real estate Mexico year after year. Why? Because nothing bad happens to 99.99% of them and they feel safe. So they keep coming back in ever greater numbers.

Many people actually feel safer traveling to Mexico than to the US. In the US, they can be randomly shot at a supermarket, a school or a nightclub. In Mexico, that won't happen; you'll be shot if you get involved in the drug business, which most people won't do. Sometimes (rarely), people will accidentally get shot in the crossfire between gangs like a few days ago in Tulum but that type of incident occur pretty much everywhere but you just don't hear about it. When it happens to tourists in Mexico, the press is having a field that with it. Savvy visitors to Mexico avoid certain areas and taking part in certain activities, like they would actually do anywhere."

What is mentioned in that article is very sad but these are local people linked to drug activities, with sadly some innocent (overwhelmingly) local victims as collateral but the shootings rarely happen in the places where tourists go. Countries like the US and Canada have travel advices letting you where not to go (and what not to do).

If you want to succumb to media sensationalism and headlines meant to sell, be my guest. However, for the purpose of a healthy and helpful discussion, I invite you to the the do the following exercise to get the facts first:

1. Check Mexico's tourism statistics. They will confirm to you that the number has been steadily increasing year after year (Covid or recession effects aside). They will also give you the current yearly number of visitors.

2. Find out how many visitors have disappeared or been shot in Mexico over the last few years. You'll find articles for every single death. You can bet on that.

3. Divide the number of visitors who disappeared or were shot over the last twelve months by the number of actual visitors. The result will be even way less than 0.01%, which corresponds to the 99.99% I mentioned in my previous post. But don't take my word for it; do the calculations for yourself;

4. Find out how many people died from a random shooting in the US over the last 12 months. Compare it to the number of visitors who were shot or disappeared in Mexico. You'll find out that the number of victims in the US is way higher.

If you don't trust official figures 100%, you might want to complete your research by getting some anecdotal evidence. Go to the closest airport. Check out the first arriving plane from Mexico and ask people such questions as: How was your trip? Did you feel safe? Would you go back? Alternatively, you might want to travel to Mexico and check for yourself on the ground. And, who knows, maybe, like many before you, you'll decide to buy real estate there during your trip. :)

Finally, I completely agree with you that this cartel-related violence is sad. Because of the stigma of it, many people won't want to buy real estate there. And that's all good. This means more opportunities for the investors who can see the forest from the trees and it also means that I don't need to participate in a bidding war when I want to but a property there.

The point you seem to be overlooking is:
Nearly 100,000 people in Mexico have disappeared. Are you saying they don't count if you can't find the bodies? 


Your source is Fox News... Let's think about what fox news would gain from telling people Mexico is dangerous? It might have something to do with elections that happen every 2-4 years. 

Nah, my source is the U.S. State Dept.
https://travel.state.gov/conte...


Travel Advisory
August 17, 2022

See State Summaries

Reissued after periodic review with updates to the Risk Indicators, state Travel Advisory Levels, and U.S. government restrictions on personnel.

See state summaries and advisory levels below for information on your specific travel destination. Some areas of Mexico have increased risk of crime and kidnapping.

Country Summary: Violent crime – such as homicide, kidnapping, carjacking, and robbery – is widespread and common in Mexico. The U.S. government has limited ability to provide emergency services to U.S. citizens in many areas of Mexico, as travel by U.S. government employees to certain areas is prohibited or restricted. In many states, local emergency services are limited outside the state capital or major cities.

Do Not Travel To:

Reconsider Travel To:

Exercise Increased Caution When Traveling To:





 Nothing in that link says 100,000 people. 

You Lose the argument by presenting a "strawman". ;-)
Doesn't matter though. Just give the authorities your travel information and say a prayer before you go.

 Sorry, I was wrong. The number wasn't 100,000 it was "more than 164,000" My mistake, I stand corrected.

https://www.pbs.org/wgbh/front...

Last week, the Mexican government released new data showing that between 2007 and 2014 — a period that accounts for some of the bloodiest years of the nation’s war against the drug cartels — more than 164,000 people were victims of homicide.



 My wife is from Mexico City, and I used to spend about half of my time there... I think Mexico had what, 70 - 80 politicians murdered during the last election cycle? It definitely isn't the US of A, and anyone pretending that they are just as safe as America is 1) Not from Mexico and 2) A rich white person talking out of their a$$. People in Mexico know that you can without a doubt disappear for ZERO reason, and doubly so if you are a woman.

That being said though, it is still a beautiful part of the world, and a lot of the crime is focused around criminal organizations that will not give foreigners any trouble whatsoever. I still believe that if you are not either from Mexico, or at least a Spanish speaker - you should leave investing south of the border alone. There are plenty of cash-flowing markets here - especially in the STR space.