All Forum Posts by: Derek Janssen

@Andrew Schmitt

@George Skidis makes a great point... while the idea is interesting, there is likely a much smaller tenant base in Phoenix that's going to be interested in living in a place like that.

Instead of trying to reinvent the wheel, I would learn a proven business model and duplicate that as closely as possible. Trying to get creative may lead to some unforeseen problems like those George mentioned above. Let someone else be the pioneer and get the arrows in the back. 

Some other unforeseen problems you may have not considered: As a tenant, you're taking up the large yard I planned to use to play catch with my kids and let my large dog run and play with a garden that I have no intention of maintaining. In fact, my dog may eat your vegetables when he gets bored and hungry, or I may spray bug spray or weed and feed around my house to get rid of pests and weeds and end up killing your entire garden. Or my kids get bored and pluck all your fruit and veggies off the vine before they're ripe.

There's probably a million other scenarios like this that I haven't thought of. My suggestion is to keep it simple until you're more experienced in investing and are able to take a risk on a new business model like this. Best of luck!

Ahh I misunderstood you, you meant a meetup for bay area residents at a different location haha. That's pretty cool!

Hey @Account Closed, I just wanted to say thank you again for those resources that you suggested. I’ve listened (or re-listened) to all of the podcast episodes that you suggested and it’s given me a lot of food for thought, especially from a tax perspective. 

I also really liked Episode 19 of the Bigger Pockets Money podcast with Chad Carson who has a great perspective on using REI as a tool to get to early retirement and then stopping once you get there to take stock and see if that's enough.

@Derek Janssen are you thinking about a group video chat? 

I was just out in Phoenix for a second time checking out the market out there. Was there back in November. What neighborhoods are your SFHs in?

 Definitely!! Believe it or not I sure have written out a plan of action and realized my road blocks (of course the main one being funding) however, I came up with a plan that even I would want to jump into if I had 10k. So now I need to remember, that I'm not begging for money but actually providing an opportunity for folks to invest their money for a short time period and making out fairly well at the end. I need to find road blocks in this system I'm thinking that would be so beneficial to me and others while forming long term relationships because I will not want to stop when on a roll.

This is a good way to go. I’ve watched people in my market (cheaper than SF but still too expensive for rentals) try to find a deal for over a year, while I just buy stuff out of state lol.

A good management company is crucial. A good manager can make a mediocre deal great and a bad manager can make a great deal bad.

Really!!? Awesome, I'd love to connect with you! 

Over the weekend, I was searching for properties and analyzing numbers found a few that i would love to dive into.... But its always funding that is a huge BLOCK. When I was eating breakfast this morning I figured i'm stuck, and I'm going to have to wait months till I can get that first deal. 

Hopefully, with my eagerness and determination something can happen. 

Thank you for reaching out,

Ella