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All Forum Posts by: Morgan M.

Morgan M. has started 3 posts and replied 31 times.

Post: Investors in Redding California

Morgan M.Posted
  • Northern California
  • Posts 32
  • Votes 18

@Vincent Rodriguez Yessir! I’m just getting started in Redding but I’ve owned in Sonoma County for 11 yrs. Let’s meet!

Post: Rental Arbitrage Proposal

Morgan M.Posted
  • Northern California
  • Posts 32
  • Votes 18

@Paul Sandhu thank you.  My one piece of general advice?  If I'm not allowed to plagierize it would be "Boredom will make your goals more attainable".

But Jocko Willink and John Wooden have much more inspiring ones.

Post: Rental Arbitrage Proposal

Morgan M.Posted
  • Northern California
  • Posts 32
  • Votes 18

I think you may be better off discussing this in an entrepreneur forum.  It can be argued that investors are entrepreneurs but I would make a distinction in this case.

You came here asking for assistance with establishing supply for a business proposition.  You got responses recommending you be an investor instead.  I have high respect for the success held by the people responding, but matters of partnership or ownership of property are rather irrelevant to your inquiry.

I would recommend that you start by thinking like a landlord and establishing a list of objections they might have.  Then consider how you might overcome the objections (this is just a practice in sales).  By doing this instead of making a script you create footholds in an organic conversation so when the question comes up, you are prepared and calm about it.  Avoiding a script will also make you a better listener.  Consider studying Chris Voss.

To tether into the responses on this thread, you might consider taking several precautions before starting to talk to landlords.  Heavy research in regulation and competitive analysis is strongly recommended.  I would also put a spreadsheet together with an honest representation of your initial costs to start this business.  If you already hold a full time job, consider if it is flexible enough to give you a reasonable chance of getting this thing off the ground.

You're risk tolerance is likely different than mine or anyone else's on the thread.  I've worked myself into a lucrative career by taking monetary risks that guaranteed personal development.  If you can weather the worst of this business model, you can come out the other side with a strong understanding of short term rentals, stronger interpersonal skills, and regional mastery of the real estate market.  When offering advice, it is wise to discourage partnerships by default.  That being said, there are many many successful partnerships in the world.  You will come out of this experience better able to vet partners in the future.

If you can afford the furniture and other start up costs, consider what it would take to handle a down payment on top of it.  But if you are looking for a job and prepared for the risks, I say take action if you can manage the worst case scenario.

Post: A little direction to become a private lender

Morgan M.Posted
  • Northern California
  • Posts 32
  • Votes 18

@Kathie Riedel Outstanding! Thank you so much for sharing. I think I would have a similar experience if I got myself to a conference and this seems to be a recurring suggestion.

I would be very interested to know more about the early failures if you are willing to share.

Post: A little direction to become a private lender

Morgan M.Posted
  • Northern California
  • Posts 32
  • Votes 18

@Todd Doxzon thank you very much. Some great pointers to get me started in this thread. That’s what I needed.

Post: A little direction to become a private lender

Morgan M.Posted
  • Northern California
  • Posts 32
  • Votes 18

@Kathie Riedel Thank you! Can you share what you enjoy about private lending? Maybe a success story?

Post: A little direction to become a private lender

Morgan M.Posted
  • Northern California
  • Posts 32
  • Votes 18

@Rick Pozos with age comes wisdom they say. I like that approach and reasoning.

Post: A little direction to become a private lender

Morgan M.Posted
  • Northern California
  • Posts 32
  • Votes 18

@Rick Pozos I’m very much looking forward to sinking my teeth into it. Thank you I will start getting in front of attorney’s ASAP.

Do you use websites to connect you to investors or just local networks?

Post: A little direction to become a private lender

Morgan M.Posted
  • Northern California
  • Posts 32
  • Votes 18

Thank you @Jake S.!

I'm open to diversifying how I invest.  I just want to ensure that if worst case I have to foreclose, I have the capital necessary to liquidate the property or otherwise make it work for me.  The only part of passive investing I don't like is that I'm not building any mastery.  I prefer to find a niche and master it so I can leverage my knowledge/skills.

Post: Under 30 and working my first property in Northern California

Morgan M.Posted
  • Northern California
  • Posts 32
  • Votes 18

Hey Ben,

I'm not a Mendocino investor but I would be interested in a meetup.  I grew up in Santa Rosa and my wife and I are in the process of selling the Santa Rosa house we lived in until 2017.  I am limited to weekends for the most part as I live way up in Red Bluff now but I visit family in Sonoma County often.