All Forum Posts by: Joe Monaghan

Hi all,

I had a timed investment finally become available and have been considering putting it into a STR venture. Specifically, thanks to my love for personally doing the glamping experience I've been thinking about geodesic domes and bell tents. I'm really early into the research phase but would be prepared to "pull the trigger" over the winter (eg purchasing a property to setup the tents) but ran into a bit of a "wall".

I'm pretty close to Blue Ridge and love the area so have considered a STR there for a while. But my research shows there really aren't any tents or domes available there. I've looked through ordinance documents for the city and county and haven't found anything that makes me believe they don't allow it.

Has anyone done this research before or actually opened a glamping site in blue ridge?  Thanks!!

@Carter F. I noticed this... some of the listings that have been around for a while show <$200/month while newer ones show closer to $275/month.

I looked through the forum and see a lot of questions but only see answers from Agents.

I'm looking for opinions from rental investors in Windsor Hills in Orlando - how's the HOA, if the market seems strong, pros, cons, general advice, etc.?

I'm not a expert yet but I would think you could meet somewhere in the middle, maybe increase the rent by $50-100/month, only if the tenant signs another 24 month lease. That means an extra $600-1200/yr in your pocket and that you don't need to worry about a new tenant in 12 months. It also means that it would cost more for the tenant to move than to stay where they currently are.

Hi all,

I've been watching this site for quite some time but only recently registered, so I can say I'm pretty new here. I am planning on buying my first investment property later this year, it will likely be a rental property unless the unlikely event of finding some outrageous deal that I can flip and make a nice amount of cash occurs.

My goal is to create a nice passive income or so while also building my overall net worth. At this point in time I, I have the extra income to likely buy 1 new investment property each year but that could change to about 2 per year once student loans and personal mortgage are paid off, I'm making VERY VERY aggressive payments on both because I'd rather not worry about the payments and I'd like to have the extra disposable income to make more money with (I know that I could use the money for investing but I am not a fan of personal debt, so this is the decision I made).

I would like to get your opinion on the TYPE of property to purchase with the intention of renting. I've been keeping my eye open so that when I am ready to purchase something in a few months I am better educated on what is a 'good deal', so I've looked at single family homes, town homes, and multi family homes (mostly duplexes with a few 3 or 4 unit properties mixed in). Although I have the intention of buying and holding the property there will inevitably be a time that comes when I want to sell the property, I am working to build my net worth, after all. How easy is it to sell a multifamily property? I'd imagine MUCH more difficult than a single family or town home, right?

Thanks for the help!

@Joel Owens

Thanks for taking the time to read my post and respond, the information you provided is extremely helpful. My real goal is to buy and hold, making a nice passive income from several rental properties. What I meant in the original message, the part that you quoted, is that if I find a deal thats extremely great I would consider reselling it to make a profit but my primary goal is to rent it. Sorry for the confusion.

With that said, I've been scouring the internet for single family homes, town homes, and multifamily homes (i.e. a duplex) and have found some deals that seem to meet the minimum criteria I've been able to find for a rental property (10% Cap Rate, 10% COC, etc.) but I think there are still quite a few questions I need to find answers to still.

@Ali Boone @Janice Carter @Andy Bankston - Thanks for the info. The realtor I used to find my personal house mentioned something to that extent, too. She told me the investment banks were offering to buy houses in deals that consisted of dozens and even sometimes hundreds of houses at a time.

@Tim Fergus - I have not connected with any local wholesalers and to be honest I don't know where to start with that. I've read some decent success stories of people mailing letters to a couple hundred people for a few months, so I've been thinking that maybe this would be a good way to find that first property? I plan on attending one of the local REIAs sometime in the next couple months.

Hi everyone,

I've been browsing around the Bigger Pockets forum for a few months but just registered a couple weeks ago. A few years ago I talked with someone who owned more than 50 rental properties and occasionally flipped property and I've been thinking doing RE investing ever since. My wife and I are finally near being a position where we will have the capital to comfortably start.

I plan on looking for homes well below market value that I can easily clean up, fix up and either sell or rent, depending on what the market value might be after I'm done with basic fix ups. I've been looking at whats available for the past year or so but plan on looking to purchase my first property sometime in the July to Septermbet timeframe.

Although I've found a couple, I'm having a difficult time finding properties that are in decent condition at an asking price. What are you guys doing to find these properties? Does anyone live in the area that has had any luck?

Thanks for the help, both now and with what I've seen in the past.

Regards,
Joe