All Forum Posts by: Peter Bendorf

Circumstances dictated the need to leave the house I was in, left northern KY for MSP when I got based there. Yeah I could have probably done things better but I needed to get a lay of the land in MSP before buying

You're exactly right, I was house hacking to see the viability of RBTR and once I filled up, I left. I rent right now while I look for the next deal. I manage my properties mostly remotely and I've got maintenance management worked out. Looking to onboard a property manager and get myself out of the day-to-day operations. Fix/flip hasn't really been an interest I have but I do like BRRR method. I've not refinanced any of my current properties but there could be some equity there. Right now I'm still in the weeds of day-to-day operations so when I get the properties I manage over to someone else to manage I'll look into expansion strategies.

I am an airline pilot that has been looking at alternative income streams as my professional job is not always a stable job market. I have started doing rental properties since 2022 after moving out of my first home. I didn't want to sell it because I had only lived there a year and new I would take a loss with agent fees etc. Looked into having it be a short-term rental and became more interested than ever at real estate investing. I now have three properties in my system and love providing good quality housing for traveling professionals. I manage two properties myself and have grown so much through the experience. Dealing with the problems that have risen has been a hassle and a pleasure. Coming into 2025, I am looking at growing my operation and improving the quality of the products I have made available to growing client list. 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $213,000
Cash invested: $50,000

Room rentals to maximize cashflow

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $245,000
Cash invested: $20,000

My first property, I lived here and kicked it over to a short-term rental manager after a year

What made you interested in investing in this type of deal?

Low cost of entry, I purchased on a VA loan and the interest rate was low still. Newer built home, I knew it would be fairly low maintenance to start out with.

How did you find this deal and how did you negotiate it?

I used a real estate agent that knew the area.

How did you finance this deal?

VA Home Loan

How did you add value to the deal?

It is a split level home, the basement was fairly small so I added a door at the hallway to turn it into the master bedroom with a private bathroom.

What was the outcome?

It does well enough on short term rental that it pays for itself and I net around $12k/year on it. This allows me to invest in other properties without using my own income.

Lessons learned? Challenges?

Short term rentals are intense, I would not want to do them without a property manager.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Shelly Helton (real estate agent). Matt Pesler - Grand Welcome of Cincinnati and Northern Kentucky (property manager)