All Forum Posts by: Justin Hammerle

@Brandon Patrick - I agree with most of the sentiment here; If your current STRs are not pulling their weight because vacancies I would analyze longer term rentals or selling them outright to pivot your capital catered to another property type and strategy.  Workforce LTRs seem to be the popular pursuit in this interest rate environment.

@Kyle Scott - you can use the one on this site; go to the tools tab and click BRRRR and start a new report.

@Jon Delmonte

Pros: Asset security, equity appreciation, tax friendly

Cons: Competition - Hard to enter market, price premiums, highly politicized municipalities

@Shlomi Dayan - If you are buying land with the intention of building; I would make sure full building approvals/permit contingencies are included in the agreement.  This will require you to go out of pocket for A&E and likely legal services for the approvals.  So its important to know the lot you are buying is buildable from a resource and zoning perspective.  Best advice I can give is to make friends with a Civil Engineer who can review the site for you and save you from any unnecessary costs.

@Damian Esposito - Not sure if he is asking you to manage the building, but I think the most accurate way is to just call PMs in your area and request pricing for the property type.  Its easy to just look up pricing on boiler plate Multi's or Singles but this sounds a bit unique.

 Why do you have a mortgage included in your expenses? If paying all cash and having no debt service, cashflow should be closer to $5k+ a month no?

@Tequila Lamar - agree that origination fee is on the higher end, other than that, terms seem reasonable enough.

@Paria Allan-Blitz - I'm not quite following why there was no downpayment included? It has the purchase price and financing amount noted as $755k. I suspect if you are leaving it out it should impact your Cash ROI, and likewise if it is included, should increase your cashflow.

@Ana Brasher - For value estimates I would not use third party sources like Zillow. I would only use and rely on MLS for comp data. Apartment.com may be the exception for rent comps because they are generally advertising the listings directly and not pulling it from another source.

@Nathan Gesner - I've also noticed this quite a bit; it seems most of the time the posts generally go unanswered.  I don't think mentorship should be requested but rather earned while pursuing whatever is you are looking to do.