All Forum Posts by: Justin Melendez

The 1% rule is just a "rule of thumb" that doesn't morph with the times. While it's a good tool for conservative initial scrutiny, I don't think it's comprehensive enough to rack your brain over the .02% you fall short on. I have a home that I refi'd on $~221k principal balance at 2.375%, my PITI is $1131 and the home rents for $1995. According to the 1% rule it's far off the mark however, it's one of my better performing properties. It's also new construction so CAPEX and maintenance is minimal for now.

I still use the 1% rule for triage, but I don’t take much stock in it after that. 

Welcome @Gildas Dossa let’s connect I live in Evans as well!

Logan, 

I feel like we might have a lot in common. I started a few years ago in a similar situation with almost the exact amount in savings. I’ll be happy to chat with you. Shoot me an email or text that’s the easiest way to get ahold of me. 

Awesome! Thank you for sharing, I love seeing these success stories!

So much yes! This reminds me of Pints and Properties hosted by @Shelby (Osborne) Johnson in Fayetteville and Charlotte. Definitely an effective environment!  

Thanks @Ryan Blackstone and @Pradeep Ka!

Hey BP Fam,

@Kainen Buch and I will be heading to Bentonville, Arkansas from 24-27 June 2021 to shred the gnar (mountain bike) and do some market discovery on short term rental opportunities in the area. We'd love to connect with like-minded folks during our stay. Let us know if you are active in the area! 

On a non-REI note: If you have any must-ride trails, please let us know!

Hey @Hieu Bui I’d love to connect. I just moved to Augusta from Fayetteville where I still actively invest. Shoot me a PM so we can hop on a call. 

@Doug Spence looks like you and @David Lutz have something in common some OKC love.

@Kevin Mcilnay Thanks for sharing your your thoughts and soliciting feedback. I just moved out of Fayetteville, physically, but I still invest in Fayetteville. I also have not been investing for very long ~2 years, but I will say that while the market is 'hyper', it's been competitive since I started buying deals. There is still opportunity to buy homes at reasonable prices to achieve flip and/or buy-and-hold objectives. Just as recent as last week, I know folks who've locked up deals on the MLS with great potential. Leverage wholesalers like @Robert Shortsleeves to help you find/buy deals that fit your criteria, and if all else fails try going direct to seller. I think as long as you know your criteria, know how to recognize value, and maintain strict and conservative underwriting, then you can play ball in any market. 

Also, which mountain towns are you referencing? I have some interest in mountain vacation rentals as well, but I lack the research, knowledge, and experience for it. Sounds like you've done some research and I'd love to hear your findings.