All Forum Posts by: Travis Moe

@John D.

Did you just say "Drat?" Like, actually, "drat?"

I'll have you know we do not tolerate that kind of profanity on Bigger Pockets. The moderators shall hear about this, mark my words!    /s

Ironically, your name came up during the meeting. @Gloria Dell specifically mentioned being interested in STRs as a strategy around Indio/LQ and was asking about their viability.

Thanks for the offer to host. Maybe we'll take you up on it. We were drawing side-eye from the baristas last night. We may have worn out our welcome.

Desert Dwellers!

Just a reminder that we'll be at the Starbucks off Cook and Gerald Ford in Palm Desert tonight!

I'll try very hard to be there a few minutes early to secure some tables. I suspect if our group grows much larger, we'll need to find another place to meet. A good problem to have, of course.

The lobby at this location closes at 7p, so let's make sure we come ready to exchange ideas and opportunities. I don't want Starbucks to kick us out right when the best stuff is happening!

Great!

Frankly, I didn't anticipate this much interest early on. If the meetings grow in attendance much more than those expressed here, then we're going to outgrow that Starbucks real quick. I guess that's a good problem to have. 

@Ken B.

June's meeting was the first one we've had. Mostly we introduced one another, described our investment goals and strategies, and shared local resources.

No topic is off limits. I am a BRRRR investor. I picked up my first BRRRR in Jacksonville, FL in December. I just moved out both tenants on 7/5 and my project manager is putting together the rehab estimates now.

@Jeffrey Schechter is looking to grow his RE education and wants to house hack.

@James Henderson is looking to flip and BRRRR

@Thomas Tarrant is looking at wholesale deals

Dan Todd is buying small businesses and has flip experience

The next big thing that I'm trying to put together for the group is a platform for sharing experience that is just for members and is not specific to BP. I was toying with Slack or with Google Groups (i'm not techy). Dan, Jeff, and I are all onboard for accountability partners - to hold one another accountable for stated goals.

We'd love to have you at the next mtg. The weakest link in my personal chain would be great GCs, so I'd love to be able to have you as a resource.

@Grace P.

Yes. I did. @Corey Clarkston has helped me out quite a bit.

Very much appreciate the chance to meet everybody who came to the meetup tonight. Let's do it again in July and get some deals in the meantime so we can share what works and what doesn't!

I updated the event. The next one is set for the same time and location on July 18th (the 3rd Thurs of the month). 

I'll try to be good with regular reminders. 

Be sure to invite anybody who loves RE Investing and wants to grow their portfolio.

@D Taylor ,

Sounds like you're talking about buy and hold strategy, yes? I live in the Palm Springs area and I'd say that you can absolutely turn a 90K down payment into a cash flowing rental out here despite the prices - but... you're probably going to have to do short term rentals (AirBNB, VRBO, etc) to make it happen. Cities like Indio and La Quinta are doable. 

If that's what you want, the guy to reach out to is @John D. Man is super busy, but found/created a niche out here and he hustles.

For me, STRs are too much like another part-time job. I like the old-fashioned rentals with long-term leases. For that, I agree with @Alvin Sylvain and @Ali Boone.  Go out of state. That $90K you're working with will go a long way. 

Don't concentrate so hard on the financing. If you find a good deal, the financing can be found. Don't restrict yourself to big, conventional banks either. When I had a hard time finding deals here in SoCal, I used @David Greene 's book to help me find a team in Jacksonville, FL. I only had about $35K to play with, but was able to buy a 2-unit for $175K seller financed, interest only, with just 20K down. 

The point is - it can be done.

Just a reminder - Meetup is one week from today.

That is all. Carry on.

@Thomas Tarrant

I actually created a whole new event. Otherwise, the new event details would be lost down in the thread while this post's details would be up in the header. I thought that'd be confusing.

Here's a link to the new event

Basically at Cook and Gerald Ford. About as central as you can get and still be right on the freeway.

See! See!

I put it in my calendar.