All Forum Posts by: Michael Porche

Hey Chad! You'll probably have a lot of advice or comments on this. However, you definitely got a good start! Utilizing that Heloc can give you a solid leverage to buy well. The markets you have mentioned work really great as they are, you just have to find the specific property that will perform the way you want it to and make sure to include the amenities that will help the property perform optimally. I got a few recommendations of other markets that perform quite better if you are willing to invest out of state. You can verify on airdna as well. Let me know if that'll help?

@Max Matthias, I think it's nice to have more cash in your control. So what that means is leveraging your houses to some degree so that you have a balance on them... that's just my personal preference. The reason being the case is if you have a fully paid off house then that house becomes a target to others who may want to sue

Hey @Christopher Oliva, First of all, Congratulations! looks like you are chugging along. I dont have much experience with San Antonio TX but I feel the basic principles of owning an STR and understanding the market will do well in any market. Did you get a chance to do an analysis of all expenses and profit on the STR?

Hi @Jason Sung! yes, this is a hot market... however it won't be a hot market forever. In fact it may be turning pretty quickly here with what's going on with the economy. Now with that being said, you have probably heard of the term, "You don't find good deals, you make good deals" in the bigger pockets podcast and more. I think this is very true. I would advise you to educate yourself on what it looks like to "make" a good deal. every property is different and requires a different strategy in order to make a deal. Essentially you want to be the guy who brings a tool bag(brrrr, flip, wholesale, Airbnb, subto, etc) to a construction site rather than just a hammer(brrrr). This will help you make good deals more often... Have you ever thought of increasing your chances of getting good deals by going out of state?

Hey @Nate Kovaly! It all depends on what your goals are. Might be good to get really clear on your goals and what you are trying to achieve. If you are looking to buy real estate just to buy real estate then you can buy where ever. Now if you want to get specific returns, appreciation, or cash flow, then I would look into markets that are going to produce the most amount of assets that can give you that

What's up @Nathan W.! I got my structure in a way where I am completely separate. I could go into depth into this. However, I believe there are more other qualified individuals who can walk you through a personalized business and entity structuring plan. Have you heard of Anderson Business Advisors? I have a link I can send your way, I am affiliated with them so they will give you a free structuring as a result of using the link. Let me know if that'll help

@Kate Szeto! I feel you on this. When I first got started this is how I felt. The reality is there are a lot of factors, it's all about controlling your costs and expenses. It really helps when you buy with equity in the deal, that gives you a buffer and also buy in an area where your rental income is significantly higher than your expenses. Unfortunately, you can just pick a property randomly and expect to make money on it

@Adam Gonzalez, great question. you hit the nail on the head, 'no one has a crystal ball'. The reality people have been screaming for a recession for the last 5 years nonstop. It always happens. However, now there is a lot happening with all that being said where there is likely one coming around the corner at some point. However, it all depends on how you buy. If you buy right, maybe make necessary improvements and add value (if it's there) so that you can pull $ out of the property... consider the long-term rents as well as short-term rents to see if they both cash flow. As long as you are creating a margin for yourself, you'll likely be good even if a recession comes through. This is a question I get all the time but there's ways to secure yourself and lessen the risk, DM me if you got any more questions

@Garrett Stockton Great question! airdna came out with a great article last year, showing the percentages of places with different types of amenities(like hot tubs) and how much revenue they added in comparison to other rentals that didn't have it. Really great information and I'd encourage looking it up, I got a PDF of it I saved as well which I can send over. To answer your question in short though, yes hot tubs in vacation areas make a positive ROI.

@Emma Fitzgibbon. from what I have heard it really isn't too difficult to obtain a license and permit for it. Have you started the process or looking to buy one?