All Forum Posts by: Chris Davidson

@Hailé Betemariam work backwards. Look for the type of group home operators you would want to rent to and ring them up. If you can't find them reach out to your city council and see if they know of some of the group home operators in your area. 

Best of luck!

@Adam Azam how many issues you have fixed are not going to be issues again? If you are almost completed with all the headaches would it be wise to get rid of now? If it is just a management nightmare could you hire a PM and have a smaller loss?

If you want to be done with it do you have good terms and could wrap it or carry a note on it to command a higher price and break even while removing the headache factor?

Hope you are on the short runs of it and it gets better soon! Feel free to reach out if you want to dive in further. Sometimes getting rid of the headache is more important than loss.

@Elijah Brown TLDR. But it is the samething just wrapped different. Timeshare, Tokenization, Stock, Silent Partner. You are giving money to someone for something. You hope to make a return on it. Like others mentioned it's not that big. RE biggest advantages are taxes and leverage. Tokenization is not using this that I am aware of. Also I don't believe the statement it increases liquidity. While Token's might sell easy day one the resale is something I struggle seeing be effective or a sound market for.

@Mitch Davidson my first SMF did great for me year one and taught me a lot about management. While financially it did good, it hurt me from expanding. It was in a c- area and the problems it came with were not worth the cashflow. The last upswing helped offload it for a better than expected return, but without the huge uprun it would of been good on paper as long as you didn't count the time it took. ON a unit basis it had over 3x the service load on admin side while bringing in the lowest amount per door. 

Like @Bjorn Ahlblad said they all work just some took longer than others, and in my case some took more time than others.

Cheers!

@John D. I would not be worried about a major port city especially if you aren't in a flood area. If you are on a small island or in the middle of nowhere GA or SC might be of more concern. The economic impact to losing a major city to rising sea levels would be higher than you losing a house. And you would probably have plenty of possibilities for MTR for workers coming to do the impossible.

That's my 2cents. If things change over a hold period just adapt.

@Luke Schumacher yes you can keep using it. If you pay it off you don't even have to get a new line. After you build it up look at lumping a few together and getting a larger LOC or a blanket loan.

Just remember that LOC's are short term debt, rates can move and they don't have to roll the lines for you. Make sure you can pay down or convert to long term debt when needed.

 Are you serious on the donut shop? I feel like all the major cities went through a pre-covid donut craze. You couldn't pass a shopping center with out some craft donut shop. IDK about syndication's but seemed to me like the area was pretty well filled. 

I think for niches like that will be facebook groups or trade organizations. 

@Gabriel Filipe Rodrigues Tavares sounds like you are using this as a hedge/ safety net not a pure investment. I would pick the area you like the best. The markets are a bit different but at the end of the day are both cities in FL.

You want to see Micky, or swim with Jaws? I'd go Tampa purely out of would rather be there than Orlando.

@Brenton Arriaga I would come up with a plan before moving money. 20k is enough to do something but also not enough to make many mistakes. What kind of returns are you getting, what will your tax consequences look like.

@Noah Bacon what's the most repeated topic phrases on the site?