All Forum Posts by: Joshua Messinger

Hey @Travis C.! 

I would recommend the Schlage encode door lock. This lock allows you to easily access it from anywhere as long as you have access to cellular or wifi. This is what we use primarily for any of our units in apartment buildings as the codes constantly have to be changed. 

I hope this helps and if you need any more help with anything else please don't hesitate to reach out! 

All the best,

Josh

Hey @Shay Ghafoor! 

I don't see how you are slow and not "very smart". It seems like you are doing extremely well and managing your time efficiently (shown from how many projects you have going on). 

For project 6 do you know if your area allows short-term rentals? If so, I'd love to help you run an analysis on how much it potentially could make as an STR or LTR. Feel free to reach out!

Otherwise, keep absolutely crushing the game! And, if you ever need anything don't hesitate to reach out! 

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Josh

Hey @Anthony Parr! 

I truly believe laying out your system on a flow chart with a checklist attached to each process that needs it is the best way to dial in on the efficiency of the system you have and make sure everything is laid out properly. This way for someone that learns visually as well this will make it much easier for them to understand. 

Otherwise, do you have any specific questions? Would love to help you out! Don't hesitate to reach out if you ever need anything! 

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Josh

Hey @Neeraj Agrawal! 

If you ever need help running an analysis on a property or learning about the operations in an STR business please feel free to reach out to me!

Always here to help, best of wishes! 

- Josh 

Hey @Alex K.! 

My team's management company manages over 200 properties along the east coast, and just launched our operations in AZ. It's 100% feasible to do it yourself if you know what you're doing and know exactly what processes you need in place to make your operation run smoothly. Otherwise, if you don't have this experience yet I would recommend using a management company that can take care of everything for you. 

All in all, the only thing that matters is what your objectives are and what you want to get out of owning your own STR. This will easily guide you in the direction you want to move. (For ex: Make passive income and have another investment vehicle, make a ton of cashflow and learn how to operate a business, etc)

Hope this helps and if you have any more questions please don't hesitate to reach out! 

All the best,

Josh 

Hey @Sean Starkey! 

Don't just reach out to one lender! Keep your options open and keep looking! @Steven Foster Wilson said this the best! The more lenders you call the more options will come your way! 

Hope this helps and if you ever need anything please don't hesitate to reach out! 

All the best, 

Josh Messinger

Hey @Logan French! 

It's very common for investors to get started in OOS REI to begin with due to extremely inflated home values in certain parts of the country making it nearly impossible for people to get a property in the area they live in.

If you intend to go the OOS  route I would recommend finding a one-stop property management company that can take care of all operations so you do not have to travel to the unit all the time. There are PM companies all around the country that operate like this but you need to make sure that you vet them heavily so they offer everything you need.

Otherwise, one of the best areas I have found right now for OOS investing with lower home values is Poconos, PA. If you'd like more info on the area please don't hesitate to reach out! 

All the best,

Josh Messinger

Hey @Zachary Taylor! 

Great question! To be completely truthful I wouldn't be able to tell you what to do but your objectives and goals that you have set in place will. Do you want this to turn into a full-time job where you have to rehab an entire home before making it right for a tenant to move in? Or, are you doing this so you can own a passive investment where a property management company takes care of all operations? 

Otherwise, you can get a duplex with an FHA loan around the capital amount you currently have. If you plan on saving up to 20% down it may take you a while to get there.

I hope this helps and if you have any more questions please don't hesitate to reach out! 

All the best,

Josh Messinger

Hey @Kevan Baum! 

I would recommend finding and talking to one-stop-shop property management company or going to a large turn-key company like @John Underwood had mentioned. 

The reason why I would recommend going to a PM company first though is that you will get a more hands-on and 1-on-1 experience vs. buying from a larger company you will have to take everything into your own hands. 

Hope this helps and if you have anymore questions please don't hesitate to reach out! 

All the best,

Josh 

Hey @Shmuel Gertel! I would recommend painting as it seems like there is not a common theme throughout the house. If you intend to use this as an STR as well you will want to make sure everything is up to par on all ends of the furnishings, paint, maintenance, etc. Sometimes the smallest things can be the most important for a guest's stay!