All Forum Posts by: Melodee Lucido

Quote from @Erin Spradlin:

I read somewhere that Mashvisor and Furnished Finder were going to combine data at some point to help support MTR listings. That said, there needs to be a filtering of rent by the room and midterm rentals because I think they are often conflated and the rental pricing data is very different for the two sources. I think Airbnb is your best bet for cobbling together MTR pricing. 

 Erin, you are correct! Here is a link for Mashvisor. https://www.mashvisor.com/?source=aw&sv1=affiliate&s.

I just watched a video featuring the CEO of Furnished Finder. He discusses Mashvisor. Here is the link. It is a GREAT video on MTR with Jesse Vasquez (he has an episode here on BP) one of the leading MTR authorities. Happy MTRing!!!

Quote from @John Jackson:

Quote from @Roy Fields:

Jhon Jackson had my friend and I working our butts off selling us on buying thing that was supposed to help us we spent over $10,000 dollars and got nothing for it and he refuse to give us our money back he is a con artist one of the best.

 Hey there Roy! Roy, not only did we give you our ALL to get you across the finish line....most of the time we couldn't even get you to the starting gate! Nothing bad or personal, but my lord my friend...even my sister spent countless WEEKS for FREE trying and trying to prod you forward.  Business is not for everyone that is for sure. 

 Don't believe anything he says. I was there and spoke with Roy. His problem and complaint are REAL. I can't even tell you the amount of sad dishonesty I saw :-(

Hey there Lill,

I guess the answer to your question is in your last statement . . . "

I probably would have never taken the shrink wrap off.

"A course won't do anything but give you the pieces to the million piece jigsaw puzzle.

You must be diligent, tenacious and Gumby-like to succeed in CREI. It is a job like any other and one must be a self starter. So, the best way to start, imho, is to find people you like here on BP and then see if they also have a YT channel and/or book. Study, study, study. Ask lots of questions as you go. I probably studied about 100 hours before I did my first deal. I have also studied almost everyday since to keep my skills sharp.

I like Chris Goff, Joe McCall, Brandon Turner and others.

Good luck to you :-) 

The best in the LO niche is Joe McCall. A lot of people that live in Ca work virtually in better markets. BP is a wealth of info for you. If you ever want to jv on a deal let me know.

I worked with him for almost a year. It was brutal watching him promise people coaching and then laughing at "suckers" who would pay for his high priced courses. He avoided their calls . . so they would call me. I would help them as much as I could BUT mainly they wanted their money back. NO integrity! Even his office manager was at her wits end. She said it had been going on this way for a few years.

Of course I stopped working with him asap!

@Ryan Hoover I am having very solid success with the free and clear properties and LO props. I haven't marketed specifically to free and clear owners (I market to OOS owners in 3 states) but several of the people that responded to my marketing have paid off their homes. My mindset is to find people that have a "situation" and need some help. They are out there; we just need to find them. Brandon Turner has a great book about creative financing; Investing in Real Estate With Little or NO Money Down. I think it's a must-read. 

Best to you!

@Clifford Datan I am happy you enjoyed the book! Have you watched the BP podcasts with Brandon Turner and David Greene on Youtube? They are so darn awesome!! There is also one for Rookies that I love. Immersion is the best way to learn. If you start there I believe something will jump up for you---you know, light you up. CREI is work and we are always (allllways) learning. I've learned so much from being in action and doing deals. 

I'm always happy to help :-) Sometimes it's just good to have someone to sort things through with.

All the best to you!

@Clifford Datan I reeeeallly advise for you to listen to (re-read) the post by @Curt Smith. When you are brand new (I will never forget those days!!) or when you are entering a new niche, you never know many of the dozens of pitfalls that could occur. 

@Brandon Turner has a fantastic book called How to Buy Real Estate With No or Little Down (something close to that). I highly recommend it before you move forward on any niche.

You are in the right place with wonderful, helpful people. There isn't any rush---> there will always be a property (or 100) for you when you are ready.

Best of Success!

I LOVE house hacking and have been doing it for way longer than the term existed. I've done it in so many scenarios, even lease optioning a home and then renting out the rooms before purchasing it. This was done, of course, with full disclosure to the owners. 

As to your other question about the $200 cash flow after you leave the house, it depends on your area, risk tolerance and what happens to the market just ahead of us.

Best of Success!

@Ryan Hoover it is because of all the facts you pointed out that so many investors have gone virtually into other markets to get the returns they desire. For right now until we see how the next 1-2 years I am solely focused on seller fi and lease option transactions as @Stone Jin mentioned. I still find wholesale deals of course but I am being tighter with the underwriting.

Best to you!

I agree with Alan. A LO will give you 2 years (or more if negotiated right) to get mtg ready. LO is a strong move in this market which is on the verge of crashing. You control the property, you get to try it on for a period of time to see if it's truly the home you want, it helps a seller in need, you don't buy a property now that will be less value (we don't know how low things will go) next year. There are many strong options to consider with a LO now. You may be able to negotiate a lower purchase price if your seller just wants you to exercise your option in a year or two. No one has a crystal ball but the handwriting is on the wall. 

Hope you find a lovely home :-)