All Forum Posts by: Jimmy Moncrief

For the past couple of years I have been building rental property.

It's worked out really well!  Way better than I even estimated.

You get:

A higher quality tenant

Higher rents

ZERO maintenance

Yes - there is construction risk, which is mitigated with a GC and material cost increases :-)  BUT you have that with a rehab anyway, and with new builds you do it faster.

The best part is the complete lack of competition!  You are working on buying random lots which have generally been on the market for awhile.  So plenty of equity to be had at the buy! 

Perfect for someone looking for experience without any risk and looking for a good resume builder.

Looking for someone to research vacation rental properties.

Has anyone here bought a vacation rental in Jackson Hole, WY or Jackson, WY?

Props to you for figuring this out BEFORE you actually buy the property! :-)

You would be surprised with how many people don't do this!

If you are just looking at the MLS - one "trick" I have found is looking for keywords like: handyman special, investor special, fixer-upper

ALSO - look for properties that have this keyword AND have also been on the market over 180 days.

There is typically a lot of negotiating power with these properties.

Hope this helps!

These types of properties work - however - only with scale.

This is why I don't invest in them.  I want fewer properties and higher revenue per door.

I have seen it work TREMENDOUSLY well once you get to 100+ doors...

A lot of great responses here!

I personally feel like you can have a greater impact with wealth.  

This is why I'm teaching my kids about real estate - they are able to give more and spend more time doing whatever they want to do.

For me personally, I want to be able to give more and help others.  

First and foremost - this is a great position to be in!

It looks like you have some great rates for financing.  I would just keep with what you got! :-)

Fully Occupied Triplex in North Chattanooga on a flat lot.  Across the street from a great park and within walking distance to the river. Zoned Normal Park School Zone.

Hey @Tim Bergstrom - I'm a lender here in Chattanooga.  Let me know if you ever need anything.

Thanks for the recommendation @William Allen!

You could get a mortgage anywhere @Robert Smith however I would think about who you want to grow with and who you want to grow your business with.

Of-course I am biased.

@Robert Smithundefined