All Forum Posts by: Michael Porche

 I like what you're saying my man! Thats where I'm at as well. I like to invest myself and bring partners in for cash and capital. I have learned a lot through the process. I feel I am getting better at it. In the beginning I have been in a spot where I over leveraged but I have felt a little bit on how to not too. Which the way to do that I have found is make sure that asset you are purchasing is generating enough volume/profit in order to handle the debt. So I have turned to finding larger margin properties.

 amen. So its better to just jump in! and learn to swim as fast as you can

 So true!! The saturation of markets was something that I saw as well. It drove me to invest in some data to look at other markets as well. Still drivable but not just like other markets people like to drive to in droves. What also helped me was looking at the type of products that aren't saturated in those markets. So looking at unique properties and also just paying more attention to detail when people book in that specific market and for how many nights. Really focusing on optimizing revenue. 

My largest hurdle was probably myself. There has been times where I rushed in too quick to buy something and didn't properly get all the details and numbers with the deal. Thats probably been my hardest hurdles... But at the same time thats where I've learned the most

Hello RE Investors! 

I am Micheal Porche. Former FireFighter Paramedic. Now a Real estate Entrepreneur & Full-time Investor. I am the owner of STR Legacies Mastermind & Escape and Stay Vacation Rentals. I have gone through quite a few hurdles and still go through quite a few hurdles. But along the way, I am learning as fast as I can. 

I wanted to know what your biggest hurdles are right now in your RE journey? And what are you currently doing to address the situation?  

Whether finding the right property, minimal to no booking for the past few weeks, or getting started, challenges in analyzing deals, or anything at all that keeps you from attaining your goals. 

Looking forward to hearing and learning from your experiences.

@Cody Landry Well it kind of depends. You need a little more details of the situation. Turnkey can be a loaded/diluted word so sometimes there is value to add in turnkey properties. But there is forced appreciation to get equity... there is a regular appreciation to get equity and their cash flow to benefit from. There are the unrealized costs of tax savings that technically help recoup costs as well

Hey @Crisselda Clark  Utilizing a property manager tool with calendar syncing is the easiest way. Airbnb has a ical section I believe. But if not you can always a PMS tool like hostaway or guesty.

Great question and that's pretty unique! Well before even considering installing one. I would see how much data I can get in regards to people searching for electric ports for charging their cars. If you can obtain that data and specifically how many people book a place based on that search then that would be very helpful in seeing the return on investment for putting one in. After knowing that then you would have a better stance on asking the other questions. Are you able to get that data?

Hey @G. Doby, I agree with the other commentators. Put everything into writing. Also, best consult an attorney and go through your contract provisions. You might never know what's coming. 

@Felicia Gossett There is never a bad time to buy. However, today is the best time to do so. Take action! property prices are not going to go down.

@Brian Langstrom 

So this is probably a hot topic right now. However, it really depends on the market you are investing in and where it's at. People will always be traveling whether for work or for leisure. Now going into a recession will definitely change the numbers a bit. Especially now that Airbnb has gotten so popular with more active rentals entering the market every single month. But how you adjust for that is the first LOCATION, next is your pricing. Lowering your market during these seasons is what keeps you alive. As long as you have a large margin to work from then you should be able to whether it very well and come out even better on the other side.