All Forum Posts by: Nathan M kiefer

Hello everyone,

I recently read a post and wanted to share my experience with The “Flip System”, as I believe transparency is crucial when considering investments like this.

I come from a blue-collar background as a first responder in Los Angeles, and I was drawn to Flip System due to the promise of having deals vetted and presented to me, as well as receiving education on how to fix and flip, implement the BRRRR strategy, and sell turnkey properties. This approach seemed ideal given my demanding schedule. I paid a substantial $15,000 initiation fee to join this community and was assigned to invest in a Midwest City.

Initially, I was optimistic as I was provided with a General Contractor and Real Estate Agent for my team. However, things quickly took a turn for the worse. The real estate agent I was assigned passed me off to someone else without explanation, and the general contractor stopped communicating with me once I had my first deal under contract. I had to rely on my new real estate agent to find another contractor, adding unnecessary stress to the process.

The deal I was presented with had an ARV of $120,000, but after the rehab, the appraisal came in at only $92,000, leaving me short by $28,000. Furthermore, I later discovered that the property was located in a C- neighborhood, which was not disclosed upfront. Currently, I'm struggling with an eviction on this property and have not made any profit. To add insult to injury, I was charged an additional $1,000 for Flip System providing me this problematic deal.

My disappointment continued with the lack of educational value provided by Flip System. Despite paying a substantial fee, I found that beyond basic instructional videos and repetitive weekly calls, there was little substance to aid my learning. Learning by doing and teaching is my philosophy, and unfortunately, this system did not facilitate that process.

I truly wanted this endeavor to succeed and even expressed my gratitude by sending Fire Station shirts to the Flip System crew. However, my experience has been disappointing, and I deeply regret investing $15,000 that I could now desperately use.

Based on my firsthand experience, I would caution against expecting Flip System to deliver on its promises of support, education, and profitable deals. If you have any further questions or would like more details about my experience, please feel free to reach out.

Thank you for reading, and I hope my story helps others make informed decisions.

Best regards,

Matt

@Nathan M kiefer

Thank you for the info. And sorry Sushree for intruding your thread.

There are some smaller properties in ocean lakes campground that are priced in the lower 300s or under.

Do they make a good str? @Nathan M kiefer

I see on airdna- $51K revenue, 56% occupancy and $251 adr

Are you an agent as well?

I live in North Carolina and I’m interested in the Myrtle beach market. Happy to chat offline.

I have a fire stick but have my personal YouTube tv account set up right now.  We haven’t had a guest yet, what do you recommend for a tv provider if any or just let them use free tv apps and login to their own accounts?  Thank you in advance!

Hi everyone - My husband and I reside in CA and looking to purchase our first STR.
Any tips/pros and cons on where to invest which will provide good cashflow? We will hire a property manager so that will be 20% commission. We qualify for $1M but not sure if it makes sense to invest that high for one STR. Our goal is to have multiple properties with positive cash flow over the next couple of years. 
thanks in advance!

Thanks Nathan!  

Three bedrooms, two full bathrooms.  Each bedroom could sleep 2 (6 there) and we were thinking about a fold out sofa bed for living room and Florida room (4 more there for 10 total).  We could possibly add a bathroom and bedroom in the finished Florida room since its 14' x 22'.

What are everyone's thoughts are on this graph that Airdna posted plus the article here: https://www.airdna.co/best-places-to-invest-in-vacation-rent...

Should investors really be focusing in on these markets?  Or take it with a grain of salt? I'm just curious on your thoughts.

Good morning all!  We are about to wade into the AirBnB pool.  A couple of key stats:

1.  AirBNB is permitted in my county.
2.  Doesn't seem to be a lot of competition in the immediate area - more around 10-15 miles away.
3.  I'm 2.5 miles from one of the busiest tourist airports in FL
4.  I'm about 8 miles from one of the top beaches on the Gulf side and about 12 miles from the 2nd beach.
5.  I'm at 2200 Sq ft with 3 bedrooms, a major living room, and a climate controlled finished Florida room.  Meaning a King bed, 2 queens (or bunks in the smaller rooms) and 2 fold out queen sofa couches and I could sleep 10 guests.

I'm trying to figure out what the right nightly price is to start off.  We will likely be moving late summer/early fall timeframe.  I run a couple of other businesses that vary based on seasonality (Turo and RV rentals) so am familiar with the fact that pricing will change as demand changes.

Are there good resources our there (or consensus from the group) as to where 2200 sq ft with a hot tub and 15 minutes from some of the best beaches in FL should price?  Decent neighborhood as well.

Appreciate everyone's insights!

-Steve