All Forum Posts by: Zachary McDonough

I am a "traditional" LTR guy, you know? ...But I have really itching to get into STRs or short term rentals (specifically vacation homes). I'm currently working on quite a bit right now but would like to create a plan with a real path to purchasing my first STR in 12 months.

So for you experienced players out there, what you say to me (STR newbie) if i said i want to build a few STRs in different markets for my family and me to visit as awesome vacay destinations?

My idea is a mountain house, beach house and ski lodge. (one of each) I am thinking Gatlinburg/Pig Forge, some FL market, and some east coast ski resort area (no idea where though)!!!

Any tips?

like.... how do you finance these? second home loan? Vacation home loan? Investment loans? 

Also: referrals on lenders? 

This has been an ongoing vision for me for a few years now. I figured I'd voice it here and now for the first time! Any feedback would be amazing!

(Yes, this is a jumbled post and I may be a crazy person. Well, crazy about real estate, whose with me?)

@Imebette Barkley

I have not used investors, yet! But I really really want to use another investor for my fourth unit. Have you?

What's up, BP Family?! 

As newly graduated college student, I started my first "big boy" job today. 

***DISCLAIMER: I am extremely blessed and thankful for my current progression.

However, (like many of you) I am chasing FI aka financial independence. I love real estate and have purchased 2 houses within the last 18 months. I am putting another bid on some properties and am looking to purchase two more SFHs by the end of the year. 

Here's where i need YOUR help. After this third unit, I would really like to create a partnership for the fourth for two main reasons: the experience and (obviously) the lowered capital burden. 

(I feel) I am at the pivotal point for lots of newbies that have done a couple deals but are now low on capital (outside of my reserves) and would like to continue the hunt.

So does anyone have advice on creating partnerships? 

Here's my advantageous qualities: I am an agent, have experience in my target market (with 2, hopefully 3 homes soon)

Drawbacks: need an equity partner to bring all the money to the table

How have you gone about this? What are the best ways to instill confidence in the investments? instill confidence in me, as an individual? 

PS: I know people who say "I will invest with you". I just want to do it RIGHT. I care about creating lasting partners and want the competitive EDGE to bypass a lot of the newbie mistakes (if possible)

With much love,

Zack (aka Zooming Zack)  ❤️

@Justin Wolff

Hey Justin, I would say that the rental demand remains high in both areas. People always need someone where to stay. Fortunately, those are highly populated cities so the demand may cycle but even when its “lower”, there is still a lot of demand.

Btw, let me know when you are interested in buying ASAP , I would love to assign you a deal of mine.

Skip the Sales Pitch! Skip the Crap!

Do you want to mastermind with intelligent investors from all of over the DC,MD, VA area?

If yes, stop by! Eat some good food, make some great deals! We have different types of investors from all parts of the industry.

Need a loan? There will be lenders. Need deals? Agents and Wholesalers will be there.

Whether you are just starting your journey or are a seasoned investor, come by and have a blast! See ya there at Brick Bistro in Calvert County, MD!

After reading the no money REI book, I really feel compelled to utilize partnerships to build my RE empire.

Here’s the thing , I’m 21 and about to finish my engineering degree.

I have 1 rental and another under contract. But soon here, I will be virtually out of investing money.

***enter the need for partnering ****

What advice would you have? (About entities, mindset, strategies)

Thanks in advance.

So I spent my first year doing everything the old way, I collect rent via cash or other primal methods like Venmo hahaha.

But I’d like to use cozy, is there anything I should keep in mind before using it ? Anyone not use cozy for some reason?

Like lots of newbies, I have decided to take on wholesaling. I really would like more capital for rentals and future projects, but I understand that wholesaling is not easy. 

I would really like to make an impact and generating a lead pipeline; however, I am still a college student...so my budget is smaller. Would you recommend my focus should be for creating and generating leads? 

I know that D4D is great, but I would also like some advice on what you use to market... Examples: BatchLeads, Propstream, Deal Machine, etc.

The age old question that everyone asks has really been on my mind ... should I get license?

There are many upsides of getting a license, including flexible access to the MLS.

Reasonably, I have access through the portal my realtor gave me, but I can run comps, put in more offers faster, and create more searches as needed without waiting.

I would love to hear both sides of this coin. Any thoughts?

I honestly just used blanket percentage to calculate vacancy, capex, and repairs. I love your level of detail! I have reviewed the HOA documents and am good for rentals ? Fortunately, (in terms of capex) there are hardly any major repair items. For example, no roof since I am bottom unit. HVAC repairs are very limited, according to my property manager who I experienced with this same condo complex.

I really appreciate your feedback and I could definitely learn a thing or two from your analysis questions.