All Forum Posts by: Nedim Tokman

Hi Stephanie,

I hope you are enjoying the holiday season. I was wondering if you are still with AA. I love the YouTube content they have, however, I read so many negative reviews about them. I wonder if things have changed over the past few years.

Thanks in advance for any insight you are able to provide.

1 Vote

if your projects were profitable, why not find other investors and pay them the loan and move on?

0 Votes

Jacksonville, Florida

Hi,

I am considering to join an online RE course. At the moment I am trying to decide if either of these courses are worth the time and money. First one is by Ken McLeroy and other one is by Dolf De Roos. Does anyone have any experience with the content? Obviously the course designers have huge success in RE, but I am more interested in the course they developed and what I should expect to get out of it.

At the moment, I am trying to get to know the market I am in. I am not interested in anything out of state and focused on where I live which is Lake Tahoe/Reno region. I am trying to draft my strategy, type of CRE, the area I am interested in and etc.

Then I need to build my team, inspectors, sub contractors and either find a property management company or try to self manage them and etc. I might stay away from self managing in my first deal and rather focus on raising funds and managing the investment.

In short, I want to learn about how to draft my strategy for my region for value ad investments and find team members that I can trust and depend on.

Thanks for any help in advance,

1 Vote

Sacramento, California

Quote from @Terri Absher:

@Jay Hinrichs Yes, it was an interesting setup with them. Never seen anything like it since. But yes, I would find the houses, submit, get an offer from them with a signed PASA, take the loan through them, and after reno was complete, they would buy the house.

I am curious if you had to invest any of your own money in the form of equity or to pay for some of the remodeling. Also I am curious if you had to disclose any personal assets even if you did not use them to secure these loans in other to enter an agreement with them.

Are all these properties under your personal name?

From what I understand, they knew you had some asset of value and this scheme allowed them to access.

0 Votes

Jacksonville, Florida

Quote from @Dewayne Perry:

Quote from @Craig Jones:

Tahoe. 5+ bed SFH's cash flow pretty well. Lots of demand from grandma and grandpa who want a place that can fit kids /w spouses + grandkids, or multiple families that want to stay together. And limited supply of STRs this size.

It's an attractive market because the Jun - Aug summer season is just as big as ski season. Nov 1 - Christmas and April / May are the only real "low" seasons. A well-located / well-appointed property can get $1000+ ADR at 70% occupancy on an annual basis.

Deep pockets required though, property prices are high. Most properties that size are 2nd homes and often sell with furniture included, which can reduce start-up costs.

No cap on STR permits in Washoe County on the Nevada side. And Placer County on the California side hasn't hit it's cap of 3900 permits yet.

Where in Tahoe can someone average $1K a night with 70% occupancy. I checked out Reno since you mentioned Washoe county and it seemed like the 5br’s were going for about $800 a night but only on the weekends. For the weekdays it was half that or less. This was for mid March.

I live in Truckee, and I can tell you that nobody will stay in Reno if they are coming here to Ski. I am not Sure if occupancy and rates are accurate though since I am not in the STR market here. Summer is often busier, winter attracts more affluent tourists.

0 Votes

Quote from @Derek Smith:

Brian thanks for getting back to me so fast and thanks for this. It is very informative and I was just about to buy. I have a sub2 mentor, but I was trying to learn the basics so I can know whats going on. I am also scared of the due on sale clause. I keep being told not to worry about it, but how can you not. One way I have heard to get around it is to do a land trust, make the current owner a beneficiary and then make myself beneficiary after I close. To me that is just hiding it and in a 30 year mortgage that is a long time to hide it and be worried about the due on sale clause. I am so glad you saved me $300. I will consider Jay Palquest's course. I am just so tired of wasting thousands on courses that end up not being for good.

I like this idea. Can you refi after it is closed after sometime and pay off the mortgage with funds? What are some of the next steps that can be followed?

0 Votes

how did you come up with your rent, can you share?

Thx

0 Votes

Kansas City, Missouri

All Forum Posts by: Nedim Tokman

Nedim Tokman has started 1 posts and replied 7 times.

Post: what are your thoughts using Anderson advisors?

Post: Invitation to join Class Action Lawsuit STOA/FlipOS/Farraway SG

Post: RE Master Courses

Post: Invitation to join Class Action Lawsuit STOA/FlipOS/Farraway SG

Post: Cash Flow Positive Properties in Ski Resorts Towns

Post: William Tingle Subject 2--Is his course worth it?

Post: Units won't rent??