All Forum Posts by: Max Schulman

Yea I would want it paid back asap too so not sure how best to utilize it other than BRRRR type as cash to not have to season much if I find a low refi seasoning lender.. but also need a team that can BRRRR well and I'm just looking for a more simplified solution if it exists!

$100K cash and up to $300K HELOC variable interest only payments (prime +.25). Looking to learn some great lower risk strategies for those that want to share! I own and manage 3 short term rentals, and have done for 3 years ($50K gross profit each year across them). Not interested in flipping. I could buy a large STR in my market DSCR but looking to diversify! Happy to trade my STR knowledge for those that want to Private Msg! Target timeframe of 3-5 years. Annual Appreciation 3%+ target. Self managing an option but a PM option is cool too! Happy to discuss partnerships as well.

Hey , yea thinking more on this, having other positions would be a tough sell.

My strategy for substitution of collateral is to get better debt terms on an investment I want to buy.

Ex. I find an investment property that cashflows ok if I get bank financing. But I am savvy and want cheaper debt. Seller of said property is not willing to do terms.

I go forth into the MLS or elsewhere and find a seller on any type of property willing to do the terms I want AND is ok with me selling their property and substitute the collateral with another real estate asset of same/more value. Preferably low or no money down as best seller would be one only interested in the monthly income

I then sell said first property and take that cash to buy the investment I am really wanting and I get the terms I want.

only thing I don’t know about yet is, how to dodge the tax on the sale of the initial property?

Evan! I know it’s been some time but interested if you’ve used this strategy?  Yes what you’ve mentioned is accurate. The minute things are what I see as the hardest to execute like getting sellers to want to work with you. But interested if you’ve found what works?

Hey Brother, 

We've run our cabin in Pigeon forge for 3 years, consistent $90-100K gross rev.  My advice would be for sure to become a part of the FB group Short Term Rental Listing Advice through the Short Term Shop, Also become a part of the STS community and ask questions there and you will get a boost!

hey!

Yes I did, and I am currently going through a retail flip in Cincinnati, planning to be done next month and sold asap. I will detail my entire experience here once complete!

Hey!  Sorry for not providing much on updates! I’m currently half way through my first flip in the Cincinnati market, it will be a retail flip (no tenant just sell to homeowner).  

All is going smoothly thus far so I plan to give a full report of experience and numbers once sold! Expected sale in Jan.

Correct some like me need more time, and yes they extended my contract to 180days as they are pushing for success!

Hey, Yes, too much time passed and the deals went pending. Everything is not done for you, no, you have two options on the pipeline, acquisitions will send you deals or you can find your own and analyze. The deals are put in the CRM with PP/Rehab est/Rent/Tax/ins basic info and there are some auto calcs for other holding costs (you enter timeframe) and financing costs (based on if you are doing HML/PML or cash).

YOU verify the info based on education/training.  YOU also enter financing for the deal and financing for the sale (to investor).  YOU also manage rehab draws and getting all docs needed for all processes.  You definitely have help all along the way but no it is not done for you, best way to learn!

@Jay Hinrichs That was me! I'd been meaning to reply.  Watched your BP podcast from years back, great information.  I do agree with your comments market is tough!  I wish I had some direct data to chime in with on the flipping portion. I will ask those in the group that have done a few to make a post of their experience as well! And yes, so far with entry and crm monthly and the two inspections, $17k 3mos time, I was able to get earnest back..