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All Forum Posts by: Gregory Schwartz

Gregory Schwartz has started 131 posts and replied 994 times.

Post: Current SFH landlord, new to trying to expand and do a 1031 exchange

Gregory Schwartz
Posted
  • Rental Property Investor
  • College Station, TX
  • Posts 1,026
  • Votes 1,018
Quote from @Daniel Tanasa:
Quote from @Michael Fluder:
Quote from @Daniel Tanasa:

Hey Michael, 

Welcome to Bigger Pockets!

Since you are planning to do some of the handyman work yourself and manage them yourself it might be a good idea to look at some areas closer to you also. I would suggest you to look into Ryon, Independence Heights and EDO in Houston. 

Feel free to reach out if you have any questions and I will be happy to point you in the right direction. 

Good luck!


 Thanks! I'll take a look at those areas. With traffic into Houston sometimes it's almost as much of a drive as it would be to College Station! I also have relatives working near there that could occasionally check up on things. But Houston might be good if I can find the right property at an acceptable price point.


 Hey Michael, 

I am the leader of the Landlord Focus Group from Greater Houston REIA and we have a meeting the second Thursday every month. This month we have it at Spring Creek BBQ, 19099 I-45, Shenandoah, TX 77385. This month's meeting is today and this location is really close to the Conroe area. If you can make it, this will be a good topic for you to meet with some fellow investors and talk about some real deals. The topic is how to Finance 100% of purchase and 100% of rehab when you're doing a BRRRR and the speaker has used this method more than 15 times to buy multifamily properties around Downtown Houston.

I hope you can make it. This is open to the public. DM me if you want more information about it. 

Good luck!


 Hey Daniel, this is crazy... we have our BCS investor meet up the same day, 2nd Thursday of every month. 

Post: How do you mitigate risk in your investments?

Gregory Schwartz
Posted
  • Rental Property Investor
  • College Station, TX
  • Posts 1,026
  • Votes 1,018

1. good market fundamental (population growth, median income, economic growth, home appreciation)
2. Safe loan to value levels. My portfolio is around 65% LTV
3. Cashflow. Each property needs to be at or above break even. We use a midterm rental model to increase cashflow for the unexpected large capital expenses like $8k worth of metal steps 

Post: Looking for Advice! Where are the best places to advertise your STR + MTR?

Gregory Schwartz
Posted
  • Rental Property Investor
  • College Station, TX
  • Posts 1,026
  • Votes 1,018

Each market is different but here in College Station,  I had 0 traction on VRBO and cancelled after a few months. The headache of screening tenants and having them pay a deposit made Furnish Finders not worth the effort either. We just use Airbnb. Its not perfect but its the best option. 

Post: Agent looking to start direct to seller for motivated sellers

Gregory Schwartz
Posted
  • Rental Property Investor
  • College Station, TX
  • Posts 1,026
  • Votes 1,018

@Trevor Mauch So much to unpack. I love the thoroughness of your response! It's probably better suited for a DM or call, but I plan to keep some, retail a lot and generally avoid wholesaling until I can wrap my head around the legal risk with wholesaling as a real estate agent in Texas. but that's another question for another post :)

Post: Current SFH landlord, new to trying to expand and do a 1031 exchange

Gregory Schwartz
Posted
  • Rental Property Investor
  • College Station, TX
  • Posts 1,026
  • Votes 1,018
Quote from @Michael Fluder:

Hi all, I'm new here and trying to learn how to become an investor in multi-family property. My wife and I currently own a home in upstate NY that has tenants, and they are interested in purchasing it. I own a small handyman business and am willing to maintain and manage my own properties. 

I'm here to find out where the best area for me to invest in will be and how to do it (I'm north of Houston in Conroe, TX). Currently I see lots of properties that look good in College Station. Any tips appreciated and I look forward to learning more!

Mike

 Hey Michael. There are some good opportunities in BCS. Like @Bryant Xavier pointed out we see steady appreciation and rent rate growth thanks to the demand driven by the university.  

We've had a lot of success with the 80s built duplexes and fourplexes here in town using both long term and mid term rental strategies. If you have time it would be great for you to come join us at our next BCS meet up. 

https://www.biggerpockets.com/forums/521/topics/1231818-lear...

Post: Agent looking to start direct to seller for motivated sellers

Gregory Schwartz
Posted
  • Rental Property Investor
  • College Station, TX
  • Posts 1,026
  • Votes 1,018

@Don Konipol thanks for the insight. I understand the importance of SEO. SEO is a very broad topic. What have you done to drive the most traffic to your site? For example, would you start with a blog or pay to rank on Google?  

Post: Agent looking to start direct to seller for motivated sellers

Gregory Schwartz
Posted
  • Rental Property Investor
  • College Station, TX
  • Posts 1,026
  • Votes 1,018

@David Lecko thanks. What I've learned growing my REA business is that tracking metrics is the only way to truly scale. You can bet that whatever method we choose we will be tracking conversion rates and running A/B test. 

Post: Agent looking to start direct to seller for motivated sellers

Gregory Schwartz
Posted
  • Rental Property Investor
  • College Station, TX
  • Posts 1,026
  • Votes 1,018
Quote from @Christian Foschini:

Hey @Gregory Schwartz. You can tell me to F off if you're not interested, but my company offers multiple ways to market. We can do all the paid social, paid search, tv, radio, etc. You name it. We have a handful of REI clients already, so we're familiar with the industry. Something that I think would be more beneficial for someone in your position would be our marketing software oodapro.com. SMS, Email, Social blasts all automated. Voice AI agents and SMS agents. There is so much more that I can go over in a call. Just let me know or say F off haha. Thanks


 Hey Christian, what I'd really prefer is some first-step recommendations. Or what's currently working for you and your clients. 

Post: Agent looking to start direct to seller for motivated sellers

Gregory Schwartz
Posted
  • Rental Property Investor
  • College Station, TX
  • Posts 1,026
  • Votes 1,018
Quote from @Jerryll Noorden:

Try to change the way you think/approach success.

Said it before, will say it again.

A lot of people do this:

Hey… I have 3 wives, 4 girlfriends on the side, 5 dogs, 6 jobs, I can only devote $200 every 5 months, and I have only 2 hours/month available to work on my business… how do I become successful?

Instead, you need to realize that success (or the universe, for that matter) won’t bend backward for you.

Instead of asking how to become successful based on your limitations, you need to turn it around.

First, you need to determine what it takes to become successful!? Then, use what you have to get what it takes to become successful.

If success takes 12 hours a day, $3,000/month on marketing, a solid education, knowledge of marketing, and deal-making—then that is what it takes.

The reason most people struggle is exactly this.

Understand this.

You can’t target motivated sellers. It is absolutely impossible. The reason why? Because no one—and nothing—can predict when someone becomes motivated.

Circumstance (like foreclosure) does not imply motivation. Motivation is an emotional response to a circumstance, not the circumstance itself.

To fully grasp this, you need to understand what a motivated seller actually is.

Many people think a motivated seller is anyone who wants to, needs to, or HAS to sell their house.

That is wrong.

A motivated seller has only one characteristic:

Anyone willing to sell their house below market value. The reason why does not matter.

Take someone in foreclosure.

Do they have to sell? YES.

And if they don’t sell, aren’t they going to be in trouble? YES.

Are they willing to sell below market value? NO.

They’d rather burn the house to the ground out of pure spite than sell to you at market value—let alone at a discount.

Once you understand the basics, you’ll soon realize that the ways everyone tells you to get motivated seller leads are factually, universally wrong.

Not an opinion. Just pure facts.

You can’t target them. They target you.


Good ad for SEO but you didnt provide any tactical advice or answer my question. But thanks for spamming my post. 

Post: STR Technologyy Stack

Gregory Schwartz
Posted
  • Rental Property Investor
  • College Station, TX
  • Posts 1,026
  • Votes 1,018
Quote from @Tyler Divin:
Quote from @Gregory Schwartz:

How about a list of what not to use? 😅

I hate the Nest thermostats in my STRs and am likely switching back to conventional ones, letting my cleaners reset the temperature during turnovers. Here’s why:

- Guests don’t know how to use them.
- I’ve had three fail in the last year.
- They disconnect from WiFi and require in-person resets.

    After three years and managing eight STR units, I've found smart thermostats just aren't worth the hassle.


    I've never owned a Nest thermostat myself, but I managed my former employer's personal properties, and he had several issues with Nest.  I met two different HVAC contractors at his properties to fix them, and they both expressed their dislike of them and said they have a ton of issues with them.  Hospitable recently released smart thermostat integration with Honeywell and Ecobee.  I've had an Ecobee, didn't love it or hate it.


     Thanks, my HVAC guys say the same things.