All Forum Posts by: Travis Ward-Osborne

@Paul Sandhu yeah, I’ve seen your posts around. You’ve definitely found your niche demographic. And you definitely have a way of getting your point across. Less offended, more embarrassed. Especially since now this post is trending 🤦🏽‍♂️

@Paul Sandhu I disagree. The value is that I now know how ineffective my thoughts are. Now I can learn that much more before I post again.

@Paul Sandhu @Lucas Carl

Alright guys, I get it, I’m an idiot. Clearly I don’t understand what I’m getting into. I’m just trying to do the best I can with what I’ve got. If you have suggestions on what I can do better, I’d really appreciate it.

I have found small lakefront properties in need of rehabilitation for under 60k. I thought that fixing one up and avoiding a loan would be a good strategy. Mia culpa.

I’m just trying to get my head around some of these things. This is my first time even trying to buy an investment. I see that you are all VERY successful, so again, I’d value constructive input. And Lucas, dude, you’re right, I don’t have the knowledge. What I should have said was, I want it bad, and I’m learning all that I can so that I don’t go in blind. I thought the point of a forum was to gather and share ideas.

The post was meant to ask if you have found LTRs or VRs more or less appealing and if having debt vs not having debt on a property was more advisable.

I’ll come back when I’ve gathered more knowledge.

@Brant Richardson wow! That’s an inspiring post. And yeah, I would be managing the rental. Thanks for sharing that post. It’s amazing what people have accomplished by being open to and seizing opportunity.

@Julie McCoy I hear you. Again, exploring my options.

@Julie McCoy that’s right. Either a vacation rental all cash ~$60k OR a LTR for 20% down min purchase price $225k.

@Julie McCoy yeah, 20% down on a min of $225k

@Paul Sandhu, that’s a scary thought. But no risk, no reward, right!

@Julie McCoy I see exactly what you mean. I know what leverage is, I was more asking if you had meant that the advantage to using leverage vs ownership free and clear was the ability to pull your cash out in the form of refinancing. But you’re saying that you can get more properties with the same amount of capital. Which obviously sounds amazing.

The problem is, I’m not working with quite that much money. More like $60k. And I’m in NYC, a very expensive market. Which means I either need to invest from afar, or focus on ONE property first. Which, again, is why BRRRRing is so attractive to me.

Considering my end goal (multiple buy-and-hold) I was gonna start with a BRRRR, but VRs came up as an idea, and I got excited about that possibility as well.

Thanks again!

Hey @Julie McCoy, thanks for taking the time to be constructive rather than just making me feel like an idiot. I’m learning as much as I can before diving into this.

I have looked at several markets for VRs to see what people are charging and how booked they are. The spots I’ve seen have had pretty great numbers.

When you say that leverage is important for scaling, are you referring to the ability to refinance? Or something else that I’m missing. Because that was definitely something I thought about as a con to VR vs LTR. The ability to use the same capital over and over to secure more property.