All Forum Posts by: Kevin Barrett

Thanks Joel for those websites. I'm not familiar with them so I'll have to look into them further.

Brandon, James - the pictures on the website don't even do it justice! I'm fortunate to be going down in a couple weeks. Anguilla is incredible because it has 32 pristine white sand beaches and it's not touristy like a lot of the other Caribbean islands. Maybe I could come up with a creative way to get some of the BP members down there! Referrals would help the cause!

I agree with Craig's points. #2 regarding the tenants is extremely important. You can find the perfect property, but if your tenants aren't quality then you've ruined a great investment opportunity. If you find a good perspective tenant and have to reduce their rent by a little to entice them to live in the other unit this is much better than getting more money from a lousy tenant because in the end you'll have more in your pocket with a solid tenant. Also, with tenants make sure to get everything in writing (i.e. lease, even routine maintenance items that you fix in their unit). As far as the numbers go I would recommend doing a quick and dirty APOD (Annual Property Operating Data) and make sure you include things such as a vacancy rate, maintenance and repairs, taxes. Lastly, make sure you have a good "rolodex" of contacts for managing the property. Tenants expect a quick turnaround and having a list of people you can call at a minutes notice is key to keeping things running smoothly.

Joined BP today and I am excited to expand my network, learn from others, and participate in the discussions! In particular, I'd like to learn how to set up a syndicated deal and I would also like to hear any feedback on marketing an international vacation property. I am in charge of renting a luxury villa in the Caribbean and am wondering if anyone has any good tips in getting it to the masses. I am a real estate agent and investor, but enjoy just about any topic relating to real estate.

"Whether you think you can, or you think you can't--you're right."
Henry Ford