All Forum Posts by: Benjamin Kelly
Benjamin Kelly has started 1 posts and replied 47 times.
Post: Bonita Springs contractors/PMs
- Investor
- Bonita Springs, FL
- Posts 54
- Votes 12
Hey @Mark S.! Just wanted to check in and see if you had received any recommendations for your question concerning contractors and property management? Thanks!
Post: From teacher to 10 units in 10 months!
- Investor
- Bonita Springs, FL
- Posts 54
- Votes 12
Great job @Sammy Lyon! I also currently invest in the Cleveland market from out of state. You are right, it is all about the team! I would love to chat sometime! Let me know.
Post: $200k in six months - long distance RE challenge
- Investor
- Bonita Springs, FL
- Posts 54
- Votes 12
Nice job Sam. I really appreciate your detail in your posts. This definitely is motivating me to set a hard timeline for my next purchases. Keep it up!
Post: WHOLESALER LOOKING FOR CASH BUYERS IN TULSA, OK AREA
- Investor
- Bonita Springs, FL
- Posts 54
- Votes 12
Post: Galveston/Crystal Beach Texas vacation rental investing
- Investor
- Bonita Springs, FL
- Posts 54
- Votes 12
Originally posted by @Jackie Lange:
Before you jump in to buying a house to be a vacation rental, why not TEST DRIVE the market. You can do that by master leasing ( sandwich leasing) a property. You simply find a property that is for rent, then rent it with the right to sublease. You'll make the difference between what you collect from your tenants and what you pay the owner.
With a master lease, the owner (not you) pays for repairs, for insurance, for taxes, etc.
You could get an option to buy the house later, but the option is not necessary.
I do this in Panama. I rent properties long term then rent out by the week. The cash flow is amazing!
Some of my students have 60 and even 100 master leases producing $25,000+ per month in cash flow -- all with houses they don't even own.
At the end of your master lease, you may determine that you want to dive in to the Galveston vacation rental market, renew your master lease or exercise your option. Or you may decide that it is not as good as you thought. But you can do all this in a risk free way WITHOUT buying a house.
Jackie,
This sounds like a great strategy. I sent you a connection request. I would to pick your brain about your experience. Thanks
Post: 0-38 units in 10 months using the BRRR strategy effectively
- Investor
- Bonita Springs, FL
- Posts 54
- Votes 12
Great job Michael! This is so encouraging. I have just started my journey with a triplex and am already looking to buy another triplex and duplex. Your story is motivating and I wish you the best as you go forward. Keep us updated.
Post: Multifamily BRRR strategy that created 4.5m of value in 12 months
- Investor
- Bonita Springs, FL
- Posts 54
- Votes 12
Awesome Job! This kind of deal gets me motivated.
Post: My Bigger Pockets Goals for 2018- (you should do these with me)
- Investor
- Bonita Springs, FL
- Posts 54
- Votes 12
Thanks for keeping us honest @Jeffrey Holst! Since the start of the year I have been trying to stabilize the triplex I acquired right before the beginning of the new year. Getting new tenants and evicting an old one. Looks like in the next 30 days I should finally have the property fully-leased up with good tenants. I have been trying to keep up on the daily posts but need to do better. Thanks for the accountability!
Post: First full year as a FULL TIME REAL ESTATE INVESTOR
- Investor
- Bonita Springs, FL
- Posts 54
- Votes 12
Congrats! Keep it up.
Post: New investor in Philadelphia area
- Investor
- Bonita Springs, FL
- Posts 54
- Votes 12
Welcome Katharine! I think you are off to a great start.