All Forum Posts by: Garrett Ennis

Once my father passes I will be the executor and beneficiary of the will. I'm an only child and I used Legalzoom to draw up a last will and testament. We had it notarized and everything so it is a legally binding document. I'm trying to decide what I should do with the property once he passes. Should I A) Sell everything inside that I don't want and use the proceeds to rehab and rent out or sell, B) Sell as is and use that money to buy into another property with a loan from bank or lender, C) Neither, and just sell everything I don't want and use it as my residence. 

The unique thing about this house is that my dad had used a government housing assistance to buy it. With that said, if I were to inherit the house there is nothing owed. But if I do decide to sell or refinance it there is about $25k that is owed back to the government housing entity. Not sure if I would get much money back if I were to rehab the place because it needs a lot of work inside and out.

I bought Brian's program and learned a lot. I put it into practice for two summers now. Overall, the first month is usually awash as you get it set up and take pictures and get it online. After that, I've made profits for the months of June-August. September has potential but tends to start tapering off a bit. Finding a landlord willing to allow you to do this can be difficult though. Stay away from apartment complexes and condos or homes with overzealous HOA members. Generally it is better to find an owner of a property that doesn't have other intermediaries. Much luck @Madalyn McCurdy

Has anyone watched the recent unveiling of Robert Kiyosaki's and Jim Rickards "Cash Flow Weekly" platform? I just finished watching over an hour of what basically reminds of a late night infomercial. In their presentation they say they have a system that has a 80-90% accuracy of making money with them selecting a wide range of what they call a "cash flow zone" based on the movement of the big indexes such as the S&P 500, NASDAQ, Russell 2000 etc. They also say that it doesn't matter which way the market goes;up, down, or sideways. 

This all sounds really too good to be true but I have an affinity towards Robert and what he has done to educate so many people like myself that I feel that it would be in my interest to at least give it a try. Only thing is that the initial investment into just their program is just under $3000. I could put this on an interest free CC and pay it off over the next few months although they say with their proven "cash flow zone" this could be paid off in as little as a few weeks. I understand I'm talking to the Real Estate investors here but that's how Robert made his wealth. I know Jim Rickards from his appearances in the media and the books he has written but not more than that.  

Has anyone heard of this yet? What do you think? Also, they don't offer a refund but some sort of guarantee that if by the end of the year subscription you haven't made back at the least the cost of the subscription they will offer another year on them along with some other caveats. 

Garrett

Great read Joe Kim. I just dipped my toe into this method of STRs this past summer. While I was working here in Alaska I rented a two bedroom condo and rented the other room on AirBNB instead of finding a roommate and it basically paid for my rent. I only leased the property for 6 months because the short summers here are the tourist season and I figured it much more difficult to find AirBNBers travelling here in the winter months. I need to find a city with more year long travelers. Any ideas anyone? I was thinking somewhere in Colorado or Arizona or even Hawaii next year.