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All Forum Posts by: J. Martin

J. Martin has started 159 posts and replied 3637 times.

Post: It's 2018. Whatcha Gonna Do About It?

J. Martin
Pro Member
#1 Real Estate Events & Meetups Contributor
Posted
  • Rental Property Investor
  • Oakland, CA
  • Posts 3,815
  • Votes 2,925
Originally posted by @Nicole Valenzuela:

@J. Martin

Besides the meet-up with @John Casmon , G, and @Rj D., @Rj D. and I closed on a 6 unit at the end of June. We have been on the hunt for our next one since before we closed on that building. Would love an introduction to ANY contacts you have in the Chicagoland area that have experience doing full gut rehabs. We've found a few projects but hope to have the crews/connections to take action on them. 

Hopefully, we'll see you on one of your upcoming adventures! 

 @Brie Schmidt, you know anyone doing full gut rehabs out in Chicago area.? 

Post: It's 2018. Whatcha Gonna Do About It?

J. Martin
Pro Member
#1 Real Estate Events & Meetups Contributor
Posted
  • Rental Property Investor
  • Oakland, CA
  • Posts 3,815
  • Votes 2,925
Originally posted by @John Casmon:

Great thread! My real estate goals have been simplified for 2018 so I can focus on the actions that will be most beneficial. 

2018 Goals

1. Build an amazing network of investing partners 

2. Syndicate 150 units; General Partner on an additional 350 units


Planned Actions:

- Continuing my weekly podcast and growing the audience  

- Host bi-weekly meetups in partnership with  @Rj D. @Nicole Valenzuela and @Meghan McCallum

- Creating the Midwest Real Estate Networking Conference with @Brie Schmidt and our host committee members

- Attending at least 3 other conferences (including @Joe Fairless's Best Ever Conference and @J. Martin's SF Bay Summit)

- Develop & execute marketing plan for more apartment leads

- Partner with others like @Malcolm Douglas to find and underwrite deals

 Awesome to look back after setting out out on the goal of creating the Midwest Real Estate Networking Summit, then hitting it out of the park! Awesome job :)  And congrats on achieving your goals!

Post: Oh look!! Another new guy!

J. Martin
Pro Member
#1 Real Estate Events & Meetups Contributor
Posted
  • Rental Property Investor
  • Oakland, CA
  • Posts 3,815
  • Votes 2,925
Originally posted by @Chris Clothier:

@Michael Ohman - Awesome introduction!  Very clever and nice job of laying  out a bit about yourself.  Since you've been here for a while, thanks for finally posting.

After reading through your thread, make sure you reach out to and connect with @J. Martin.  I think that would be a great connection for you since he is located there on the west coast (San Fran area) and spends a lot of his time traveling the world.  He has figured out how to invest and capitalized on his time to give himself the ability to build a lifestyle that lets him travel.

I don't want to share his entire story and say anything wrong.  If I were in your shoes, I would reach out to him to pick his brain on how he went about investing.  There are a ton of other investors on here from you area so hopefully you have sought them out as well.  Some will be active investors, but many will be passive and will have good tips and thoughts on investing outside of California.  I would make it my mission to personally meet as many as I could before I actually bought anything.  Spend some time with them over coffee or a beer and learn everything you can.

Best of luck to you!

 Thanks for the shout out Chris!
And sorry I'm so late to the party!

Michael, my gf and I travel the world year-round. I sublease a bunch of apartments on Airbnb, and have some properties in the Bay. I haven't invested out of state, but Chris knows ALLLL about Memphis!

We're heading out to Medellin, Colombia tomorrow, but hit me up on FB :) 

Post: ABB Co-hosting - worth it? Or focus on setting up my team?

J. Martin
Pro Member
#1 Real Estate Events & Meetups Contributor
Posted
  • Rental Property Investor
  • Oakland, CA
  • Posts 3,815
  • Votes 2,925
Originally posted by @Ethan Cooke:

@Nick Kraska - It really depends on how much you want to get involved in building a team/network, minor maintenance while you're there, etc. I think @Paul Sandhu captured the list of skills you need to find, and that you can probably find someone with "3M Talent" (or at least "2M Talent" to cover several areas.) I love it! You can also make your place more trouble-free by fixing things up front that are most likely to break (new light fixtures, light bulbs, door locks, etc.). And you can "automate" the place with things like a smart thermostat, combo door locks (no lockouts!), clear laminated instructions inside the unit, etc.

Also very important to consider scale--if you are planning to have several STR's in the same area, then it's wise for you to invest time now to build your team there and manage the place without a co-host. But if this is a one-off, it's probably better to pay a local co-host who already has the local connections.

Talk to @J. Martin and Julie McCoy--they are both very good at remote STR management.

Good luck!

 I think once you have 10 or more, it's probably smart to have your own people. 

But I also like it because my team is there, available, to do other things for me. 

With that said, it's best to START it like you're going to outsource everything, so it will be easier once you decide to make that transition. May consider software until then. Guesty is 2% of revenue now instead of 3%...

Post: Self-Storage Investing - Value Add Through Conversions! [VIG]

J. Martin
Pro Member
#1 Real Estate Events & Meetups Contributor
Posted
  • Rental Property Investor
  • Oakland, CA
  • Posts 3,815
  • Votes 2,925
Originally posted by @Chris V.:
Hi J - Will you be around July 26th? @Ryder Meehan and I'd love to have you speak at our meetup that day, and the slot is still open! Let us know if that might work for you!

Originally posted by @J. Martin:

@RYder Meehan,

I'm still not back in CA yet, but back in the US, so maybe I can catch one in the second half of June :) 

 Wow! I realized I haven't been checking BP much!
We've been up near Seattle for most of July. Sorry I couldn't make it (and that I missed your tag! text me next time at ending 8088 or 1190. )

Keep rocking guys! I'm heading out to Medellin, Colombia tomorrow! :) 

Post: Midwest Real Estate Networking Summit

J. Martin
Pro Member
#1 Real Estate Events & Meetups Contributor
Posted
  • Rental Property Investor
  • Oakland, CA
  • Posts 3,815
  • Votes 2,925

Awesome event. 
Awesome people. 
Had such a blast too!

It's amazing to be able to take away new tips, tricks, and meet great people at conferences around the country. I never stop learning and enjoying them. 

Great work on putting this together Midwest Real Estate Networking Summit!

Post: Airbnb’s in Portland

J. Martin
Pro Member
#1 Real Estate Events & Meetups Contributor
Posted
  • Rental Property Investor
  • Oakland, CA
  • Posts 3,815
  • Votes 2,925
Originally posted by @Jay Hinrichs:
Originally posted by @J. Martin:
Originally posted by @Jay Hinrichs:

Neil  you may want to talk to @J. Martin  he does a variant of this.. if you can catch him between his globe trotting ventures.. 

I for one have tried this a few times IE stay at a air bnb I personally don't care for them at all. I want when I travel service.. not have to figure out why something does not work.. or a rock hard bed bad sheets towls etc.  or whatever.. I don't see the appeal.. but that's me.  I sure can see it in resort areas though or for a few months at a time.. would be curious if or why people rent these for a few nights at a time as opposed to a nice downtown hotel.

 I would say the reasons differ for different people. Sometimes it is cost. Sometimes it is group size (group shares 4 bedroom house and hangs out together in living room, instead of having to meet in lobby.) Amenities like a kitchen (usually for larger groups or longer stays.) A more "authentic" feel of living in a house somewhere, instead of same-artwork hotels. Some are cool spaces (like a loft, tiny home, tree house, desert home, etc.). On longer term stays, it is mostly the kitchen for us. And the traditional reason.. a local host who can show you interesting things (this is less and less common today.)

It's kind of like going to a local restaurant instead of a tried-and-true chain. The delivery and quality of the experience varies more. But sometimes you find something really great or interesting for taking that risk. 

I just booked a 6 bedroom house in Medellin, Colombia, so I can invite family and friends out to visit, then rent out the other rooms when available to test a co-living sublease model outside the country.  Totally different reason than the normal person.  But it's also because this is outside the white-washed western neighborhood where all the malls and hotels are at. There aren't really hotels in this part of town, but it's a cool, authentic Colombian neighborhood. So it's a different experience. Come visit and check it out! Maybe we can win you over on Airbnb's! (maybe not!) lol

next time our paths cross in Thailand you can talk me into a thatched hut on the beach.. barrio of Medellin  probably not getting Miss Lori to bite on that one. but we will be in Aruba in the winter this year... so maybe jump over there just becasue thats the last continent i have not been too other than Antarctica    

 Jay, we just booked Tulum Mexico for the month of Oct. 

Are we getting closer to your style...? ;)

Post: Corporate Housing in San Francisco Bay Area

J. Martin
Pro Member
#1 Real Estate Events & Meetups Contributor
Posted
  • Rental Property Investor
  • Oakland, CA
  • Posts 3,815
  • Votes 2,925
Originally posted by @Gianluca V.:

Hi all,

we are Gianluca and Matteo, both Software Engineers working for major Silicon Valley software companies and aspiring real estate entrepreneurs.

We’re currently working on a corporate housing platform with the objective of creating an automated service for renting out and managing corporate-level properties. As part of the process, we will transform an average, unfurnished property into a high-end, fully furnished corporate tenant-ready home.

The platform is far from complete and we’re currently validating our assumptions. In this phase, we’re collecting opinions from both landlords and companies with the objective of better understanding what are your experiences and pain points. We're currently focusing on the San Francisco Bay Area market.

If you’ve used other corporate housing services, what doesn’t work in your experience or could be improved? If you have not, what would make you consider switching to this model compared to a more classic rental or Airbnb? Please let us know below or contact us directly.

Any feedback is very much appreciated!

Gianluca and @Matteo Palvarini

 I have 19 furnished apartments in the SF Bay. Used to pay Guesty 3% of revenue, which was almost $20k for them last year. But it was all geared towards short-term rentals. A lot of our corporate guests stay 1-3 months. But there weren't many tools geared towards longer rentals. It was almost all focused on managing short-term vacation rentals. We stopped using them and I'm just paying my staff to do everything now. $20K is too much for what we received. And didn't like the % of revenue model. 

CHBO is an outdated site that still does quite a bit of corporate rental business. 

Post: Santa Cruz Real Estate Investor Summer Meetup

J. Martin
Pro Member
#1 Real Estate Events & Meetups Contributor
Posted
  • Rental Property Investor
  • Oakland, CA
  • Posts 3,815
  • Votes 2,925

@Shane Pearlman

Glad I got to see you before you left. And loving the pictures from across the pond!
I'll text you about where you're living. We want to look around for a place to come visit! Looks beautiful! :) 

Post: Traveling Nurse Rentals

J. Martin
Pro Member
#1 Real Estate Events & Meetups Contributor
Posted
  • Rental Property Investor
  • Oakland, CA
  • Posts 3,815
  • Votes 2,925
Originally posted by @Chris Mason:

@J. Martin is the man to talk to about this!

 @Jonathan C., travel nurses are happy to rent rooms to keep their costs down.
Some things that help to rent rooms are a lockable bedroom door (so they have their own locked, private space for them and their things). I recommend an electronic keypad lock w/ a code of their choice. 

Install some true black-out curtains, so they can have a dark place to sleep, regardless of what shift they work. 

Comfortable bed. Desk in room to sit and do work or laptop stuff is great, if there is room for it. 

Put it on Airbnb and post on the Gypsy Travel Nurse site on FB. 
Typical travel nurse contract is 13 weeks. So if you're targeting them specifically, you can adjust your minimum nights accordingly if that's what your looking for. You may want to start w/ 30 day min, because some search for one month at first, then book the whole stay then or later.. (if you set minimum at 12 weeks and they first search for 30 days, you won't show up in search results.)

I'm heading out to Medellin, Colombia tomorrow. But find me and tag me on FB and I'll do my best to respond! (J Thomas Martin). Best of luck Jonathan!