All Forum Posts by: Lindsey Johnson

 Noted.. I see some great deals on the market even now!

Awesome acquisition, Matthew. Inspiring stuff! Thank you for breaking the deal down in such specificity. 

Hey Kathy - Nice last name! Did you ever have any success in the TC area? I am moving up in October and plan to hit the ground hard! I'd love to connect and grow together. I send you a request. 

Hey BP family,

My name is Lindsey and my wife and I are moving to Traverse City, MI this October. I am looking to pick up 2-3 properties near downtown and the college to turn into STRs. I am an agent myself (licensed in CA) and have a financial partner. I do not plan to get my license in MI right away as I am focusing on building an investment portfolio. 

I am looking for a seasoned investor friendly agent who can help me find solid investment properties. Preferably underutilized or in need of a value add. I am also open to distressed property owners and off market deals. If we can make it work on a deal, I think there will be a hand full more in 2023. We are motived and ready to make moves! DM me if you can help or have a connection to a professional. Thank you guys! 

Lindsey

Hey Will,

I went to school in Saginaw and frequented Ann Arbor. Congrats on the rapid success. 70 units is impressive! I am new to the community but am looking to make moves in the Traverse City, MI area this fall. Do you have an interest in investing in this area? Might be a different strategy, but the STR market is solid.

DM and connect if you're down to chat.

Thanks!

50% is better than 0%.  Great advice!

Got it, I think I follow all of this. So you would recommend establishing an LLC, purchasing the property with a fix and flip loan, rehabbing the property, refinancing to a DSCR loan, holding for cash flow and appreciation. Is that correct?

Everyone-super insightful contributions. Thank you so much! I sent you all a connect request and a DM. 

Hey BP family,

I have an interesting question for you all that I am hoping to get some clarity on.

I am an agent and a new investor. I am moving across the country in a couple weeks due to some family issues. As we have been planning the move I have been diving deep into the local market. I have found a couple properties that, with a little love, would make great short term rentals. I have a financial partner who is interesting in going in on a deal with me. I would be the boots on the ground to facilitate the purchase, minor cosmetic rehab, future STR listing/fulfillment, and expenses. We would split net profit 50/50.

My question is this-what do you recommend in terms of financing this deal? Since I am moving and have not yet secured a new W2, I do not qualify for a loan. My partner can bring the downpayment and rehab costs, but we are not sure if he should also carry the note. How would that work with appreciation down the line if the note is in his name? Is there a better way to structure the deal?

Just looking for some wisdom, a creative solution, or even a connection to a lender who may be able to help.

Thank you in advance for your thoughts!

Lindsey