All Forum Posts by: Rob Beardsley

Couldn't have said it better myself... Good luck with everything!

Every state and county is very different with their tenant protections, so I think it would be wise to call your local sheriff and let them know your situation. Good luck! 

Hello Michael, 

I'd say the best place to find a great deal is to get an off-market one. Although these are more difficult to find, making connections with brokers and others in the business can get you there! Good luck

Seems like a great opportunity to meet and connect... I hope I can make it and see the BP community there! Thanks for sharing with us!

Congratulations Michael on paying off your student loans! There is a lot to learn and a lot to gain from the real estate business. Let me know if you need help with anything!

Hi Jeff,

I do believe vacation rentals can be cashflow positive but there are a few things to consider. Through observing my sister's Airbnb experiences with her apartment in Santa Monica, there is a lot of profit to be made. However, I would not consider this passive income. Short term renting often feels like you're in the hospitality business, which essentially, you are. A solution to this is to hire an "Airbnb manager" that takes care of all the guests, cleaning, etc. for a percentage (usually 10%-20%). Another thing to consider is the laws regulating short term rentals. For example, in Santa Monica (and all of LA county), it is illegal to do short term renting. This law wasn't enforced until halfway of my sister's lease and prevented her from renting her apartment any further. Laws regulating sites like Airbnb, Vrbo, etc are generally becoming more prevalent and can present risk. Good luck!

Welcome to the BP community Landon! You've come to the right place to learn a lot about REI. I can recommend you a list of books to get another source of education to kick start your real estate investing career. Don't hesitate to message me if you want some help getting started or to do some business together.

Welcome to BP Logan! Unless you are a large firm that has the opportunity to invest across numerous, uncorrelated assets, investing in real estate is a continuous process. You have to be looking for and buying deals at all points of the cycle. So if you're like me and only invest in real estate then it is always a good time to invest. However, in certain times (like these), I would recommend proceeding with caution rather than aggression. 

As a side note, one of my partners who owns and operates a $500MM portfolio is looking to break into the Des Moines market.. Good luck!!

@Seth Martin Please call me at 7:30am PST. Looking forward to speaking with you then.

Thanks @Dan Handford for the mention!