All Forum Posts by: Kyle Sheker

I'm limited this year on how many conferences I can go to. I'd like to make #BPCon2022 one of these. Does anyone know when the dates are typically released for each year? I'd like to mark it on my calendar. 

I’m assuming you’ve heard the BP podcast on this topic? I believe there was a young guy doing STRs in Joshua Tree. He was doing tiny homes. Check out the “hare bnb”. That is the guys tiny home. A very informative podcast on the topic.
Also, I’d recommend checking out Yurts on Airbnb in areas you’re NOT looking to go (I.e. perhaps Grand Canyons) and reach out to the hosts to learn from them. I have found many of the yurt super hosts have multiple properties and are crushing it! 

There are some super unique properties out there if you search the Yurts, or bubble / dome homes and they are bringing in big bucks. Make sure to differentiate and get great photos. Make it “Instagrammable”. 

I looked into this strategy for a little while also. Make sure you have power and water to any site you’re considering or at least know how you’re going to solve for the issue.
Also, look at temps in areas you’re considering to see what national park will allow you to maximize the season. If it gets too cold at night, the season could get short quickly. 

 Glad to hear it! Also look up the recent episodes with Pace Morby or in general look him up. The king of creative financing and creative deals. Hope this helps and best of luck!

I'm relatively new to OOS investing in the KC market. With that said, I have found that there are good (and bad) areas on either side. In my opinion though, if you are in Johnson County on the Kansas side, it's even better than a lot of places on the MO side. Overland Park, Olathe, and even down to Gardner is set to appreciate really well with great neighborhoods and schools. Outside of Johnson County, I'd take it neighborhood by neighborhood. 

Episode 555 of the bigger pockets podcast talks about buying in expensive markets. I recommend this for you. David Greene does a good job of explaining the idea of "making a deal". @Joe Villeneuve I think is also touching on this. Find a deal with a "problem" that you're able to solve and perhaps you'll find a great opportunity. I'm not familiar with your specific market but am of the belief that most hot markets don't have the issue of "not enough deals", but "not enough creative solutions". I think the idea of a house hack is great, you might just have to get creative. Find a problem and solve it.

Side note, I have heard there's a lot of red tape around VA loans and it'll likely significantly reduce your options. With that said, you may want to consider deals without the VA loan as well.

David Greene talked in one of the most recent podcasts about building wealth, then multiplying it and finally investing it (or something to that extent). If you take the cash you have, and instead of putting $25k down on each, finding a property that needs work, fix it up and build the equity (i.e. multiply that $25k). 

If you look into BRRRR (Buy, Rehab, Rent, Refinance, Repeat), you'll learn how to maximize this $25k and still have the same equity. It's not unrealistic at all to look at a 3-6 mo period. If done well, you could do this every few months with the same capital as you're cashing it out every time. This is a good strategy to grow quickly, though there are many other strategies like owner financing, subject to or private capital. In my opinion though the BRRRR strategy is the simplest concept to understand.

It'd be good context to know what your goals are to help guide your decision. Do you need good cashflow at this stage in your investing? If so, perhaps 1 or 3 would be the best options. If appreciation is the bigger play here, it sounds like 3 might be your best option. I don't know anything about overseas investing but have heard it's wise to invest where you like to travel for tax purposes. I'm not a CPA, but you might be able to write off much of that travel depending on how you do it, in which case that would increase your overall ROI. I'd recommend discussing the three options with a good CPA to see what option will benefit you the most from a tax standpoint an calculate your ROI with this in mind.

If 3 appreciates as well as you're hoping and you'd have nice cashflow from the start, I'd lean toward this. As it increases in appreciation, your cashflow will do even better and you'd have the tax benefits. More context on your risk tolerance, resources and overall goals would help make a decision though. 

I'm also an OOS investor. Just started last year in KC. I have worked with Chris Kelley who's pretty great. Cool with walking properties and understands the needs with out of state investors. He also invests himself and knows the area well! Good luck as you dive in. Make sure to read David Greene's book on our of state investing and BRRRR if you haven't already. Feel free to reach out at any time!

@Joey Gorombey I'm a bit late to the party hear but am an out of state investor. I've done some house hacking of my own. I'd be happy to connect with you sometime and see if I might be able to help in anyway. 

Check out MaintenanceKC. Ask for Cody (owner). He's awesome. He'll walk a property and send you a quote before he even leaves the property. It'll be line itemed as well. Pricing is reasonable and they do a good job. https://maintenancekc.com/