All Forum Posts by: Max Ferguson

Keep me in the loop with what you find, Tanya! I bet the numbers look a fair bit better than here, I would hope. 

Absolutely love this. The pictures from the zillow link are pretty good already, but after looking at the airbnb it shows how much room there is for creating exemplary photos above the zillow listing. Nice job!

I don't think this is insensitive, I am curious about it as well. We have always looked at tampa and have friends and family there. 

From what gathered when I spoke to the investor agent I have there, most STR candidates on the retail market were only breaking even. This was a few months back. If you can secure insurance that doesn't kill the deal, and you find a good deal, then I would assume all works.

For anywhere you decide to invest in, paying all cash is going to net you a good return. If you plan to buy there to rarely use as a vacation home, then I think it would make sense. On a pure investment scale a mid term or short term in the midwest (omaha, KC, etc..) may net you better returns. I'm sure others have input on markets to focus on that may be far better than the ones I mentioned above as well. 

Let us know what you decide on!

Big Daddy J money man!

@John Galloway nice job. 

lol just realized this thread got revived from a year ago! Love to partner on a flip with ya soon. 

Make sure to check local laws on separate non-relatives living together, I doubt 3 bedrooms is a problem.

@Miller McSwain is a king of co-living. He would have some good advice for you!

I would assume a good lease for each bedroom is key, but could be wrong. Good luck!

Bookkeeping as in watching your credit cards, writing off utilities, etc.? 

I wish I knew of something! Maybe you could use one of the softwares that tracks your bills but only input the real estate cards and accounts? 

This would save tons of time! Stessa may have something similar to this if someone can add input? 

Full disclosure, not quite worth 1m yet. For those that surround me that are: Most got "lucky" on the appreciation curve of the last 10 years. (They still had the risk tolerance to do it, so lucky can be interpreted in different ways here)

I just came back from a business workshop where the lowest allowable revenue was 200k and most folks were over 1m in revenue a year. From what I gathered, most folks getting to a million that are younger are in a random business of some sort, then placing money in RE assets. With deals not being the best on paper currently, having defined criteria for rentals that pencil out is a must. Analyzing hundreds if not 1000's of deals a week or month would be the key to getting to a million in 10 years. 

But also, what are you best at? Is there a business you can simply push up and increase revenue by a lot to produce the money you want to invest? 

My biggest takeaway from the workshop was that I need to stop looking at deals to invest in for now, and get above 1m a year in revenue from the agent side of things. From there I can expand and continue to invest or pivot to hiring out agent stuff, and start having fun with investments. 

Hope that helps

 Great advice Steve! New laws require a bit more attention to compliance. 

I would get with your property manager if you have one, or call one and offer a consultation fee for their time on how to go about structuring the invoice. You could gather all of the information from the internet but double checking with PM's would be smart as we had multiple changes in May as you know. 

Good luck and keep us updated, I will have to do this one day so it would be nice to know! Thanks

Congrats Jeremey! Taking the leap to do what you did is a scary one to say the least. Crazy to think 2017 was 7 years ago that this point! Speaking of that, I need to review my goals!