All Forum Posts by: Axel Meierhoefer

@Lori Greene I hear you an on the tools I am doing that. I actually found a lot of the tools on BP really helpful. Thanks for the hint on the app. I will check that out

@Chris Clothier Thanks. I will reach out to him

@Tonya Slater Thank you. I am planning to. Part of what I am wondering about is the recurring business. Maybe I should reveal that I am a German male (trying for 25 years to improve but the DNA sticks) at this point. Someone recently used a wonderful way to describe it in the context of things that flow and things that appear hard to do. I think it was either Brandon or David on the podcast talking about light and heavy. Business and developing/structuring is light for me. Anything creative, designing, etc. feels heavy. With that in mind I am thinking about vacation renters who I would hope would like their stay so much that they would want to come back. I know based on my own extensive travels that it often has to do with the feeling a place gives.

I love the Mediterranean style and my future properties are planned to be close to beaches makes me wonder if that is something that should go into the furnishings and color schemes as well as potentially the name of the enterprise. This is probably an area that is light for you and others while I struggle but love to take input on-board.

For the vacation rental part I am also still wonder if anybody has good ideas about decorating. I believe people are looking for some sort of a vacation theme. I saw some cool ideas on AirBnB but wonder if that could be over-configuring it?

@Account Closed Yes., those will be key parts as well as a good balance between purchase price and any renovation needs .

@Account Closed I am not planning to sell but rather hold, which is where the passive income would come from. Ultimately I am hoping to develop a cascade where the passive income from existing properties will allow for the purchase of new properties, at least for down payments of financing. I still believe in leverage until interest rates get really high, at which point cash buying might make more sense, but that is probably years away for this new entity.

@Chris Clothier Thanks Chris. I am in touch with Ashley anyway as we are working on the 1031. The exchange property is planned for listing this month and then things might get rolling pretty quickly. That's on the private side and any advise for the new venture will be much appreciated.

@Jay Hinrichs Thanks but the plan is that the company I am creating will be the buyer. I agree that I will probably get aat last an agent license or have someone in the company with an agent or broker license. There is no goal of selling. The idea is to develop the portfolio of properties that will allow accelerating the portfolio growth and ultimately lead to investments in other property types. 

@Michael Glaspie Thank you. I will. @Jay Hinrichs @Chris Clothier I am a fan of MI and a few other turnkey companies and have learned how important the selection of great partners is. I don't plan on being competition in any way. All I like to do is being involved in the selection process on the front end as well as the closer monitoring for the vacation rentals. That's why I am calling it a hybrid that follows a model I am currently applying in my consulting company: I call it the expert model where each part and service is provided by experts under a common umbrella that describes common goals.

I have not heard about the Howry test but will explore. Thanks Jay for pointing it out

I have been an entrepreneur for several decades and am ready to create my final - hopefully, masterpiece - company. The idea is to develop a business that is a hybrid of the turnkey model, where the majority of the services to operate, manage, renovate, etc of a property is taken care of by one or more entities/service providers, but the property selection, purchase, and determination of renovation needs is determined by this new company. Another twist will be to have a mix of long term rentals away from the tourist attractions and vacation rentals close to the beaches.

I am looking for advise, tools, samples, insights on how to best create a business plan and identify the best tools (software/apps) for the establishment of this new company. The goal is to get all legal aspect, founding capital and entity structure in place by the end of 2019 (earlier if possible).

The help of the BP community is highly appreciated