All Forum Posts by: Ryan Lesley

Hey @Andrew Maldonado,

Welcome to the BP community 🤝

Lots of resources here to help you with Fix and Flip questions and lots of great ways to connect with the rest of my real estate colleagues here in Colorado. 

Hey BP Fam,

I am currently about to start a series of neighborhood walk through videos in my area to help people moving to the area understand the different neighborhoods as well as their Pros/Cons.

I know personally what I look for but wanted to get a feel for what is most important to you when researching a potential neighborhood to move to.

be as detailed as you want or just list your top priorities, any and all info is going to help me construct the categories I should focus on when making these videos.

Thanks in advance for all your help and support 😊

Hey BP Fam, 

I am currently about to start a series of neighborhood walk through videos in my area to help people moving to the area understand the different neighborhoods as well as their Pros/Cons. 

I know personally what I look for but wanted to get a feel for what is most important to you when researching a potential neighborhood to move to. 

be as detailed as you want or just list your top priorities, any and all info is going to help me construct the categories I should focus on when making these videos. 

Thanks in advance for all your help and support 😊

Hey @Deborah Bailey, 

like @Kyle Spearin said there are a few options you can go with it and as he said even if renting it out may cost you a little up front, the big take away is that the majority of that mortgage is being covered by the renter and at the cost of $200 - $300 per month you are gaining: equity, appreciation, increasing your net worth. Couple that with the fact that you may or may not have a lower interest rate than what you could get currently and I'm in agreeance with Kyle that holding on to it an renting it is still a better option.

The other factor to consider is that you more than likely are gathering these numbers based on traditionally renting out your home (1 year lease) and as Kyle suggested, you can look into a Short or Medium Term rental that can net you more than what you would be getting from a long term (1 year) rental. Not to mention if you really wanted to increase your net, you can look into insurance contracts (insurance company pays you to house their clients displaced by fire, flood, etc.) or the travel nurses (if you are close to hospital(s). 

A lot of this may be new to you and luckily BiggerPockets very own Zeona McIntyre and Sarah Weaver have a book in the store called 30-Day Stay that covers all you need to know about getting started in Short/Medium Term Rentals. 

I hope this helps and wish you the best of luck with figuring out what's going to work best for you 🤝🍀

Hey @Davin Manfredi, 

I have heard arguments on both sides but a few things I would point out for you to keep in mind is:

- How long does the process take in your state? (some states you can go online and do it pretty much instantly, where others take weeks)

- Understanding the restrictions if you are trying to close in the LLC's name 

- if liability is your main concern, not naming the LLC in a way that makes it easily tracked back to you. (if you're planning on doing this with several properties, consult a business attorney or someone well versed in structuring to maximize anonymity and asset protection, i.e holding company for the individual LLC's)

Most important thing to keep in mind is if you are going to be utilizing the LLC(s) for liability, speak with someone who really understands how to structure these because not setting them up properly can be, in some cases, no different than not having set one up at all.

Hope that helps and best of luck 🤝🍀

 Yea so I dont think those setups were for RV storage, more so RV parking for those traveling. So they have the pad, hookups,  etc. $15K+ /acre is insane, I see why you want to catch that train 😂

Hey @Gosuke Kawano, 

welcome to the the BP community and congrats on starting your real estate investing journey. you're sure to find someone on here that will be able to help you. and if you ever decide you want to consider investing in Colorado or Florida I would be happy to help you set up your team and give you more info about those markets. best of luck on your investing journey! 🤝😊🍀

Hey @Account Closed, 

I haven't had any experience with this myself other than also seeing it be more and more popular strategy. In fact the vacant land with RV parking combined with small/med rental cabins concept was recently done in Ft. Pierce somewhere. I don't remember what it was called but I remember seeing advertisement for it and thinking it was a great idea/spot they had. I'd be curious to see what other people on the forums have to say about this strategy. 

Hey @Ethan Hilferty, 

I and my team help first time real estate investors and are based out of Denver. I will send you a connect request and hopefully help answer any questions you might have about getting started here in Colorado 😊

Hey @Mark David, 

If you aren't already considering or planning on doing so, I would definitely check with an finance professional about a IUL (indexed universal life policy to really take advantage of all the benefits of "being a bank". hope that helps and best of luck 🤝🍀