All Forum Posts by: Jake Baker

It takes more than just setting up a carrot site and forgetting about it for 6 months then expecting leads. This may well work in a niche market. Otherwise, you have to advertise your domain in other ways. Direct mail, email, SMS, etc. We get leads to our Lead Propeller site which is a similar company to Carrot.

Hey BP community,

I'm an investor in Jacksonville Florida and I have done several BRRRRs over the past year there. I am currently entering the Davenport and Kissimmee area to build an STR portfolio.

I'm finding good deals, just need some additional funding. I will be finding the deals and managing the assets. 

Does anyone have suggestions on how I can find equity partners who can bring capital? 

Hey BP community. 

I do out-of-state BRRRR investing in North Florida. I'm looking for a CRM or Software that will help me manage multiple deals at a time. This includes tracking incoming leads, rehab timelines, and asset management. I'm doing 1-2 deals a month and will scale to 2-3 per month by the end of the year. Any suggestions?

@Dan H. said it well. Don't plan to win the STR lottery.

I have an Airbnb in Little Italy that I rent out by the month and I get astronomical amounts for the rent right now. I think that would actually be considered "mid-term rental" maybe. My HOA requires a 28-day minimum as 80% or more of HOAs do downtown. It has been less than a year (small sample size) but the demand is high even for 28 days minimums. We live in a "work-from-home while you travel" world now so those are the type of people I get. My backup plan is to keep it as an LTR if the STR demand dies down somehow. It would still cash flow well.

Hope that helps! Always have multiple exit strategies. 

I agree with @Ronald Allen Barney on the agent commission advice. 

I would invest now if you can cash flow. Historically, rents don't really go down and we're seeing the highest rent increases in the past 20 years according to the latest census reports. 

Timing the market almost never works. 6 months ago most people (including me) were convinced rates would go up. The 10 year treasury has steadily decreased in that time. The US bond market shows no indications that rates will go up in the short term. 

STRs in Little Italy cash flow like crazy right now. Everyone is looking to travel this summer for some fun in the sun!

Hi Matthew, I'm an investor in Jacksonville. Feel free to PM me. I definitely know people that can help you out. 

What neighborhood/zip of Jacksonville is it located?

Great information @Ellie Perlman. Thank you for sharing. I can say that my first investment I invested emotionally (#1). While it was still a good deal, I probably could have made better returns elsewhere. I'm from LA county as well and started looking at other places, specifically Florida. 

Hi @Dmitry Clarke. I'm also a real estate investor based out of Long Beach. I've found it difficult to find properties locally that have high margins of profit for flips. House flipping was the shiny object that got me interested in real estate, but I've gone with a different strategy now. I House Hack locally and invest long-distance in rental properties using the BRRRR method. Locally, I rent rooms to friends to capitalize on turning mine and their living costs (rent) to equity for me. I invest long-distance in other cities where I can focus on creating cashflow buy and hold properties using the BRRRR method. It is very difficult to find flip deals on the MLS today. Successful flippers in this area use a lot of off-market campaigns to bring in leads.

Welcome to the community @Tucker Marshall. 

1. That's for you to decided. I was in this same situation last year. My company offered to pay for my masters from USC but I declined after realizing that it wouldnt get me any closer to my goals. If you feel like you can leverage the degree to help you achieve your dreams faster than go for it. In Rich Dad Poor Dad, he talks about how people often go get degrees because they care more about the "status" rather than the outcome. In my opinion, BiggerPockets resources, books, and networking tools is all you need to become incredibly successful in real estate investing. 

2. I have 2 strategies. I live in LA which is HCOL for sure. I plan to BRRRR/HouseHack locally once per year. Locally, I'll give up some cashflow for a better location and I look for off-market deals. It's harder to cashflow here than other places. Me and 2 other investor friends started a team and now we're long-distance investing to focus on generating cashflow. I like having other investors with me because I'm not alone when jumping into a city.