All Forum Posts by: Laura Shinkle

 Interesting, thanks for the response!

Congrats on the two STR in Peru, that sounds like you've got some systems and knowledge in place already. Just curious as to why you would switch up a strategy that's working for you? Also, long term rentals won't generate as much cash flow. They'll give your portfolio diversity and perhaps more stability with the long term tenant, but STR will get you more cash flow (as a general rule).

From what I'm seeing in Charlotte, home prices have outpaced the rental prices so it's tough to get a property to cash flow unless you're putting more than 25% down. Some investors are fine with that for the stability of the lease and likely rent growth over time. Some are not. 

I have a mid term rental and a long term rental. Mid term is downtown Charlotte, being rented out to traveling professionals, minimum 30 day lease, usually 90 days or so. It's generating a good amount of cash flow for me, but it is more work than a standard long term tenant. (turnover)

@Aaron Beal I'm confused as well. There's so many ways to make money in real estate. 

1. Invest more time in your sales business and scale that. That's your biggest money maker, and the income potential is limitless. 

2. Buy investment properties, either STR or long term rentals. This creates passive income and generational wealth.

3. Start managing properties for others. That creates another job, so not my favorite avenue, but you should be able to do that with your license. 

4. Flip houses

5. Build a social media brand and business around RE and REI from what you've learned as an agent.

Where would you recommend going to learn more from a reliable source? That's a niche that I haven't ever really explored and it sounds like there's a lot of questionable info out there. 

@Andres Ruiz have you started analyzing properties yet? That'd be a good place to start as well to familiarize yourself with the areas and see what kind of return you're looking at. Perhaps then an area will stand out that tends to get better returns than others. Then you can start to build a team around that area. (Greensboro and CLT are two different markets for any team that you're building).

What I would do and what you want to do may be two totally different things. For example, I would buy a STR in an established vacation rental area. But maybe that's not the type of investment you're looking for.

I'd recommend starting with some internal reflection. 

What is your goal with purchasing real estate? Is your focus cash flow or simply diversification from the stock market? Are you wanting completely passive income or are you willing to do a little work to get more cash flow? Are you local or is this an out of state purchase? There's so many ways to invest in real estate that you really need to figure out what you're wanting out of it before you dive into learning about a certain investment or strategy. 

There's several REI meetups in the area, just search meetups in Charlotte or Fort Mill and I'm sure you'll find a ton!

Where are you current rentals?

1. Don't let the rejection get to you. Easier said than done, I know. 

2. Be consistent with your habit and continue to call. Consistency is how you build anything, including this. And it's not wasted time, you're already learning things from those conversations, even if it didn't lead to a purchase. 

@Yogesh M sayanakar let us know what you decide to do!

You'll need to bring a GC. An inspector knows a little bit about a lot of stuff. GCs are typically more realistic and will actually be able to give you a cost given a certain issue. The inspector will just say "this looks weird, talk to a GC about it". 

It may be tough to find a GC willing to do that with multiple properties. Do as much work as you can before hand to eliminate properties that obviously won't work so you're not wasting their time over and over.