All Forum Posts by: Pierre E.

That much cash gives strong power to leverage.

I would use that to generate sweat equity on STRS buying 3 in the best performing market you can find, then use remaining cash and equity and leverage that into 3 STRs in another top performing market to diversify and spread risk. I would stay in two markets and scale, which allows you to really build strong teams

I would then take the cashflow and use that to add another property every year or so in each area as good deals come along

Or i would adjust, if i felt like it would be less work to be in just one market or one performed better overtime i might shift to that market eventually owning them free and clear reducing my risk, and then heloc those properties in first position to help utilize their equity to do something else like short term private money lending etc

@Trent Reeve

Woah! Can you share more about what its like doing international STR?

Been thinking about Grenada due to friends and family but never done an STR before

Which is better to target? Wider margins? Or higher final dollar profit? Thinking if you flip in a HCOL market, you might have higher profit for an average house, so per flip you make more. This would potentially affect what market you choose? (Ie a place where a 4 bedroom house is 800k)

If you go for wider margins in a market, ie a place where a 4 bedroom is 200k, you get better returns but you have to do more flips and more transactions.

Thoughts?

 I responded to your question on another post, but I happened to see Bigger Pockets offers bootcamps.  

My suggestion, especially if you have capital, is to pick two of these that most apply to you. do the interactive one that most applies to you (Probably the Real Estate Rookie)    And then do the self guided one that next most applies (probably the house hacking one or rookie landlord one)  I have never gone through one of these but I presume it will be helpful for you. And get a BP pro membership to get the discounts. 

.....blog/real-estate-investing-bootcamps
https://www.biggerpockets.com/...

Check which areas in the list below that you need help in the most. And where do you  feel you can be of the most help. Be careful about giving /spending /loaning money specifically to anyone else.  Also, try to find partners, peers, friends. Eventually you will build a mentor/mentee relationship but thats harder to build upfront. There are many that can still provide guidance along the way.   You need to choose a strategy to work on. Make a 5 year plan, so that even if you are not able to now, when you are ready you can hit the ground running. 



The core things for most real estate investing are that you need to be able to:
 - Find Good Deals and Negotiate
 - Get Good Funding
- Handle the Legal, Tax, and Transaction Side Well 
- Manage Fixing the Property Properly if needed
- Have a Good Revenue Generation Strategy That works for you, the property and the market you are in (Location and Real Estate Market cycle wise) - Rent it (as an STR, MTR, LTR, Section 8, College, House Hack etc) Flip or Wholesale it
- Have good systems for the longterm and for scaling - tenant and property management, book keeping etc

  
A Couple  Helpful Podcast Episodes
-  Rookie to Real Estate Investor in 90 Days: Meet the Mentees
- Skills You Need to Become a Full-Time Real Estate Investor

 Real Estate Rookie Podcast - https://www.youtube.com/@RealE...   on Youtube at "@RealEstateRookie"

@Patricia Andriolo-Bull  This was GREAT perspective. Definitely helpful because it gives me insight on what to watch out for, and what to learn more about. Some times we take things for granted due to what we are used to here in the US. Thank you so much for sharing that. I hope I can return the favor in value in some way in the future! Specifically I will look into the following:

- Legal
- Tax Rules
- Network + Friends + Connections
- Language Barriers
- Payment Transactions and Recourse for Fraud
- General/customary behavior among vendors and contractors in the area (good and bad)

@Patricia Andriolo-Bull

Anything specific you could share as advice from your experience?

@Patricia Andriolo-Bull

The good thing about grenada is it is english speaking. So i guess point one for me to remember is probably best to invest in places where you are fluent. Maybe not a rule but.. yea

Anyone have short term rentals in Grenada? Any ideas suggestions or thoughts on the market? Or general thoughts on investing in similar islands in the Caribbean? I know some people from there living here interested in investing, me as well.

Seen some nice places there on AirBNB but feel like a… fish outta water… when it comes to carribean/international investing?

@Patricia Andriolo-Bull

Any new insights?

I would love to hear from others who have done STR in grenada as well, ( or even a similar/non bahamas-jamaica-aruba Caribbean island that isnt on the top of the list for us tourists but still worth it)