All Forum Posts by: Josh Coffy

Hey BP family!

Last year, I jumped headfirst into vacation rental investments and now I'm into larger downtown building projects. I've experienced some enormous success in both arenas and now have attracted a good deal of other people who want to invest $25k, $50k, etc. through my vacation rental LLC.

Our attorney believes it would be considered the sale of a security, so it would be heavily regulated and close to impossible. 

I figured there HAS to be a way to do it and if anyone would know, it would be the BP community. Does anyone have any advice on accepting dollars from investors in exchange for equity in properties? :)

Thank you!

Avery Carl - what thermostat do you use? That’s a good point! We have our locks linked with Iris, so I was considering the thermostats. Our electric bill is like $200/ mo on average. Did you see. Decline in utility cost when you switched?

Or cabin in Gatlinburg is rented 80-90% of the time. I’m wondering how much a smart thermostat could save us. Does anyone have any numbers or feedback on having one? Thanks!

I’ll tell you from my recent experience that Pigeon Forge/Gatlinburg are INCREDIBLE for investing! Just purchased my first cabin (2x2) in August and had 88% occupancy in September and already have 90% in October booked. (45% booked for November too!) We’re raising our rates, but in month one (September), we did about $3,500 with all-in cost of $2,000. October is going to be in the same range — closer to $4,000. It’s a tad more work, but it honestly isn’t THAT bad. Maybe 10-15 hours/mo of work tops. Now, I’m looking to buy 5 more!

Hey, guys! I’m looking to close my first wholesale deal. I just purchased my first vacation cabin and it’s absolutely CRUSHING it. Now, I want 50. (Haha!) I’m looking to acquire larger sums of cash to do so and I see wholesaling as a valid strategy. I’ve taken courses on it and have a pretty good grasp on it. So far, I’ve tried a BIT of several things in the Phoenix valley. - put out 20-30 bandit signs (zero calls) - ran some FB/AdWords ads (I own a marketing agency, so I’m very fluent in this and still had no luck) - knocked on 30-40 doors of people in pre-foreclosure One avenue I haven’t done, but would be happy to invest $500-$1,000 in, is direct mail. Have you had any success with direct mail? What numbers do you have on it? Who should I target with my list-buying? How many pieces should I start with? I have designers on staff, so I could easily have beautiful cards created. Please help! :)

Guys,

After investing in stocks & ETFs for years, I've decided to make the plunge into real estate. (Woo!)

When it comes to renting, is there a good income % to shoot for, to make a property profitable? I've played with many scenarios, but I've found that a 20% annual income on the loan has poses reasonable returns. (Or so I think!)

I'd love some advice from my favorite BP pros! :)