All Forum Posts by: Ken Breeze

Time machine for sale!

Well maybe not exactly the physical machine but something similar to the effect of saving you years of your life not reaching your goals.

Hi, my name is Ken and I’m pretty sure I know how you feel. Frustrated, exhausted, tired of running in circles, overwhelmed, doubtful, do you move David did now and then, alone in it all alone, and internally screaming for a partner or buddy to buddy up with to get your real estate investing career into a level that is worth talking about and starts to make you feel confident and accomplished.

How do I know? Been there, done that,

Like most of us, I have failed at least in 1000 ways. The important message is to feel forward and not stop. Yet it can be extremely frustrating being on this journey all alone. This is also the reason why most people give up.

Remember the feeling you have when your promise yourself for the new year to go and commit to going to the gym? You’re all hyped up when you get started and around month three you dread getting your stuff together to head on over to the treadmill. Why? Because it’s boring, repetitive and exciting activity that might get us the results but are just too humanly hard to discipline oneself to follow through not just for a few weeks or months but for years. This is just how we humans are wired. We get that extra kick, hope and belief and confidence when we do this thing together.

So after reading this blog post, dismissing it with a nod, reach on back out to me when you get into next weeks frustration cycle again. Call me. Stop procrastinating. You know you need a sparring partner. Today.

If you're interested in learning how to invest into commercial real estate feel free to visit me here.

Dave Versch you might want to start looking into Facebook marketing and advertising. Check out one of the more recent Yarusi Holdings podcasts on that one.

“Patience young Aaron Hall ”. Hot the markets are. The peak, cycles are reaching, young padawan. Turn the tables will, by the force.

Like a broken record, the trick is to find out the perfect Location, Location, Location ;-) 

Many STRs break even or even lose money because the math needs to make sense in terms of year-round high average occupancy rates necessary to pass the break-even threshold. If you don't at least break even with all your necessary expenses (insurance, maintenance, management, etc.), you're fooling yourself, like so many others I consult with, that Airbnb can be a fun and great income idea. Do your homework BEFORE you lose money.

I almost did, when we explored purchasing a condo in a very well visited European summer vacation destination in the Mediterranean Sea, Mallorca Island (completely a dream by the way). We tested two mock-up rentals (I should probably dedicate a few blog posts about all my findings) and found that in a cycle of a year we wouldn't even break even. And now that the local government went ballistic and maliciously shut most of Airbnb down by scaring citizens and owners with exorbitant penalties (the dark side of the force is strong), this topic is off the table in this paradise until things change. But heck, the world is our oyster, right?

Check out  EverBooked ,  Mashvisor , and  AirDNA for some very accurate and cool data to gain more certainty on Airbnb rental predictions. Their reports are an excellent tool to include in your presentations to lenders, private capital investors, partners etc. You can also send me a DM or check out my Airbnb profile to study what I'm doing right or not so well. Always a good study.

@Isaca Tracy welcome to the tribe. 

There's a wealth of resources and support in this pool of wisdom. Start with the free guides above and hundreds of podcasts to last a lifetime. Continuously network with people and seek out mentors who are focussed on your REI strategies of interest so you can 10x your learning curve. I'm pretty certain that your perspective and mindset will change to making more BOLD decisions to shorten your timeline to success.

Feel free to send me a DM for help.

Hey @Lisa S. welcome to the best real estate tribe on the planet ;-) 

Let's hook up and chat multifamily real estate some time. I plan to look a bit closer into your sub-markets to see if we can find any off-market, value-add property opportunities. 

Hey @Hunter Beck in your bio you say you're looking for buy and hold real estate and above you mention you're looking for a home. Do you mean SFR, small MFR or commercial MF (CRE)? The whole game changes for the better (lender terms, interest rates, possibilities, partnerships, JVs, OPM, etc.) when you shift to commercial (5+ units).

I looked at Bryan/College Station a few times and it fell through our buying criteria having less than 250K in population. Some of my peers won't touch anything under 750K. I am also curious to find out more about the primary University character of the location. How does that play out? Not knowing the details, it seems risky to bet on a pretty much single type of demographics - students.

Thoughts?

Let's keep in touch ;-)

Shane Short I’m glad you’re shouting it off the roof top. Feel free to send me a PM to see what we can do about it. Cheers, Ken ;-)

Adonis Hernandez congrats to your decision on wanting to focus on real estate as a vehicle to reach more financial liberty and thus freedom of choice. - Learn so you can make an educated decision. - Get a mentor to speed up the process. It’s evident that you’ll still need to invest into yourself, your knowledge base and real estate education before you or your friends and family can feel confident to invest in you and real estate. That said there is a ton of free information and education here on the blogs and podcasts to keep you busy for the rest of tour life. I also recommend finding a mentor to keep you focused, accountable to your commitments and goals, on track and to help you increase your learning curve and shorten your timeline to success. There are many mentors here on BP, podcasts, YouTube and the net that this community will refer to you, I’m sure. Everyone has their favorites. Cheers, Ken

Everybody’s situation varies therefore the choice of strategy and tools to use demand a different focus. Keep the main thing the main thing. In your case it sounds like “focus on maximum occupancy”. Unless you enjoy it, tinkering with building websites is an endless and painful game. Create systems. Outsource, delegate, eliminate. There’s enough fiddling with the major portals or channel managers anyhow. And one giant headache is done for you on Airbnb et all - the never ending nerve-wrecking marketing. Of course, if your profits allow, you could spend a ton on a few “qualified” VAs (good luck with that) to do all that for you. The on-boarding alone is another full time job. As Julie McCoy pointed out, the advantages (marketing, payments, time input, expertise, insurance, legal, website creation/maintenance, SEO, reach) currently far exceed the dependency disadvantages of OTRs. For all that value and time savings, I wouldn’t even bother too much circumventing their communication system to deal outside their box. It’s doable, and makes sense when talking long term vorlaute guests, but it comes with the price of uncertainty in the case when shizz hits the fan. And it happens. It’s just a matter of when. Great stuff Travis Rasmussen love the taxi/Uber/Lyft analogy. That pretty much sums it up. Hire VAs to do simple stuff like inviting all your past guests via email or inside the Airbnb com channel to sign up to your brand new MailChimp landing page (VA, Upwork, Fiverr and others) and signup form for future communications. If the sign up, you have their permission. If not, they ain’t comin’ back anyway. Use PayPal, Square or Stripe to create simple services or products for your repeat customers. Use WiFi smart locks for ease and efficiency. Try GetProperly to remotely oversee your cleaning and maintenance team. Try Guesty and Everbooked for the rest. Hope that helps.