All Forum Posts by: Jon Martin

 Keep in mind that Wayfair is not a manufacturer, they are a screen scraper and drop shipper. They have bots that look for every piece of furniture on the internet, create a listing for it, and then have it shipped if you buy it (often at a 2-3X markup). 

If you want something that looks nice Article and Castlery have some great looking stuff without breaking the bank too bad ($2-3K range). With Minoan you can discount that 20-25%. 

Thank you for the reply @Dave Meyer, it's not everyday that I get to converse with BP Royalty. 

I started listening to BPRE in 2022 (I think), right around the time when Brandon was phasing out and David Greene took over. To me BPRE was more about the individual stories of the investors and how they operate, with the hosts sharing their experiences as it related to discussion. I learned a lot hearing David and Rob go into the weeds. OTM was more a round table discussion of current events, predictions, news etc as it related to real estate, where the hosts also provide some great personal stories that relate to the topics discussed. 

Just my thoughts . . . Thank you for your consideration. 

Always do a right click google image search on anything you like, especially on Wayfair. You would be surprised how much Wayfair marks stuff up, and that a lot of things that are marketed as unique are sold by numerous retailers. 

Let me start by saying that they are both great shows and I think Dave Meyer is great, as are the other present and past guests of both shows. 

That said, when On the Market first came out there was a distinct feel and format to it. At that time we still had Rob, Brandon, David Greene on the BPRE podcast, while On the Market had the round table format with a separate crew. Lately, the topic titles on the BPRE podcast have sounded more like On the Market show, and the last On the Market show sounded more like a BPRE episode. We hear less BPRE episodes featuring individual investors, and it missing the breadth of STR and LTR knowledge that David Green and Rob brought into the discussion with the guests.

IMO the 2 shows should maintain their distinct feel, otherwise why listen to both? There is too much overlap between them and they are starting to sound like one and the same, especially since BP has the same host for both. 

All good feedback, thank you all!

I might try the “emergency service” which is $20 with limited data and just use that for the smart locks and ring cameras. That way there is a temporary backup if the broadband goes down. 

Thinking of switching to 5G routers instead of broadband. The data plans are reasonable ($50/month) and the service seems like it would be more reliable through storms and outages. 

Any drawbacks I’m not considering? I would still need to subscribe to a streaming service for cable tv, so cost savings wouldnt be much (or a wash), but otherwise it seems like it might be a viable alternative?

100%
I would add that your rates are too low if you are attracting these types of guests. Raise your prices. 

@Nicholas L. yes absolutely, everyone should do their own DD. I am comfortable saying this because I have seen it work and replicated it. I even kept the cash flow number conservative and the math still works, $1K/month on a $400K property is good but not a home run by any means. Caveat is that you should be reinvesting those profits back into other smart investments so that you aren't missing out on compounding gains. 

Paying taxes on early withdrawal is not much different than taxes on any other income. All are profits/income tand you are still coming out ahead, even if you have to pay taxes on them. 

Out of state, southeast and midwest college/mid-sized towns. High bedroom counts to attract guests for weddings, families etc. Mostly class B because the purchase price is accessible and still profitable. 

Hi @Kevin S. yes you absolutely can. I picked up a home for $422k that does $8k+month in revenue, some months well over. After all expenses paid the profits are closer to $2k at $8k/month revenue. 5+ bedroom homes in mid-sized cities is my strategy. 

The math I posted above get's a lot more impressive if you can push $2k+ cash flow.