All Forum Posts by: Matthew Powell

@Will Fraser

 To be honest I'm still looking for my first deal. But like Patrick Bet-David says, always think 5 moves ahead. So initially I want to do Joint Ventures, and honestly I can't think of a deal I would want to do alone! I always see value in people.

Just out of curiosity, do you prefer doing deals alone or do you prefer joint ventures with other investors?

Hey Ryan,

Analysis Paralysis is a real thing! I usually walk away from the analysis, grab a water, take a walk, etc., then come back to it and start from scratch. Just make sure your considering vacancy costs, taxes, property management fees (if applicable), CapEx, comps, and does it meet the 1% rule. This isn't the full picture but hopefully it helps you consider something you didn't before!

Hey Ravi, I'd be happy to connect you with a few recommendations here in Savannah if you PM me!

Break-even analysis! How many new properties can you acquire with selling the home vs. a HELOC. With a HELOC you can still keep that existing home but use your current equity (not sure how much you've paid in) to acquire new homes. With a 1031 exchange, I'm under the impression that you can only buy up to 3 properties. My goal is to always leverage other people's money to cash flow and keep as many properties as possible. So, if I were in your shoes I would keep renting (keep the cash flow), acquire as many new properties as possible using a HELOC as down payments, and have multiple cash-flowing properties. You have to go back to what your end goal is and see if any decisions can be eliminated according to your goals. Hope this helps!

Crystle! I second what Landon said. If you're ready for the investment, Propstream is a great tool to use that has skip tracing capabilities, postcard mail, and more. The BP podcast promotes it and the few Real Estate Investment firms in my area love it. Otherwise, drive for dollars, ask landscaping companies, UPS/USPS/FedEx drivers, etc. Insert it into your conversations. It's a numbers game and the more you have at the top of the funnel the better!

Thanks for letting everyone in on this! I know this is most applicable to inner cities as of now but will come to the suburbs soon! Do you leverage the different cell phone companies to get the best prices?

Hey Donald! If it's AirBnB, they have included insurance coverage for Hosts. I haven't done STR in a few years so definitely look into that and see if they are already filling in any gaps in coverage! Umbrella policies should cover any other gaps and protect any other assets. Also, if you shop for new insurances definitely go to a broker instead of an agent so your broker can give you multiple different quotes and even get you customized insurance that will suit you best! Hope this helps!

Hey Todd! Thinking from a legal perspective you may want them on separate LLC's to protect your separate assets. Definitely talk that through with your Legal team before doing so! Also, you could create separate bank accounts for each entity that could sweet into a more broad account. Hope this helps!

Hey Brandon! Just curious, are there any Short Term Vacation licenses required? Here in Savannah, GA the city only allows 20% of homes to be listed on AirBnB and you have to have one of those licenses. The wait list is crazy long. Might be something to look into if you haven't already :)