All Forum Posts by: Michael Cohen

We're going to be hosting what's probably our last meet up in Burlington for the year. Please reach out if interested in joining this week. Sorry to be so cryptic, but can't post meet up details here or the post will get taken down. 

Hey Folks, 

  I'm working with a group of other investors to consistently put on an in person meetup at Burlington Beer CO in Burlington, VT once a month and a zoom call with local matter experts. The goal of the group is to meet other like minded investors in Vermont and help each along this journey of investing in real estate. Reach out if you would like any more info and we can add you to the mailing list. 

Cheers,

Mike

Are folks getting paid directly from VRBO? I'm using Hostaway and it appears I need to accept payments via Stripe versus direct deposit from VRBO. 

Hey Logan, 

I feel your pain and the wisdom provided thus far is right on. I think an additional step you could take is identifying what your actual issue is. Try and break down your problem into the simplest form and attack the issue at hand. Is it finding deals, money, etc? Deals were my issue because the market was so hot. So I went right to the source. I purchased two off market deals last year by connecting with the seller before they were ready to sell. I started a hand written mailing campaign and stuck with it for a year before I got any real success. But I learned a tremendous amount along the way which is part of the education. Not education you read about but practical skills that you can utilize to find future deals.

  Hope this helps. 

Mike 

Hey Dan,

   Thanks for putting this together. I'll be there. 

Hey Brandon,

     I have one investment in Burlington and it has been easy to rent and Airbnb (pre-covid). This was a live in flip so the terms are a bit different and the local housing market is getting a little out of control. I do however believe there are deals to be found. There has been rumblings of changes to the local airbnb policy which would greatly effect the potential so I would only purchase a property with multiple cash flowing options.  And listen to Michael and Peter... They've been in the game far longer then I and are a wealth of knowledge. 

Hey all,

   I have a duplex in Burlington and am developing a small chunk of land in Morrisville VT. I'm in for a meetup next Thursday as well. 

You could do both using a Roth. You could invest your cashflow in a Roth IRA (up to $5500 per year). As the stock market settles over the next year you would be dollar cost averaging after hopefully the major drop off has already occurred. At some point the market will go up. The nice thing about Roth IRA's is you can take the principal out penalty free. Every year you could put money into the account and grow it tax free while also pulling out your basis at the end of some growth and put it into your home. Just a thought. Best of luck.

Hey, did you have any luck with finding a calculator for development? I'm currently struggling with the same thing. I was going to build one in excel but figured I would check BP first.

Thanks,

Mike

Hi everyone. I would love to come to this event! 

Foam is having their work party this Wednesday (4/17) so I think that is out.

How about The Garage on Friday 4/19 at 7pm? It's on the corner of main and battery and they have shuffle board...

Not sure how busy they will be but maybe with the holiday it might be lower key.