All Forum Posts by: Janani Kalpathi

@Shawn McKinney - could it be Creative Seller Financing: How to Use Seller Financing to Buy Or Sell Any Real Estate by Chuck Sutherland?

Hi All, 

For Pasadena short-term rentals via Airbnb, does anyone know if we need to pay Transient Occupancy Tax (TOT) directly to the city or does Airbnb take care of it? Also, can you please share your insights on how much to budget for ToT per month?

https://www.cityofpasadena.net...

@Chris John

Really well laid out Chris. Echos many of the thoughts we've been having. In the current scenario, REI is turning out to be more than just running the numbers or finding the right property. Though we are still hunting for that elusive first house hack opportunity, my fiancée and I just started thinking about appreciation and how to think about opportunity cost vs time/effort spent

@Shiva Bhaskar

Hey Shiva! Happy to connect with you! In such a crazy market is where we are excited to make some interesting moves. Would love to be included as part of any future meets planned

Hi Brian,

Welcome to BP and to this crazy world of REI! My fiance and I are also just getting started in SE Michigan. Though we don't have a property under our belt (yet :) ), it has been an interesting journey reading through some Real Estate Investing Books by Brandon Turner/David Greene/J Scott etc. along with regularly listening to BP podcasts.

The best part has been networking with people like @Michael Helfant and team, visiting properties and getting to know what SE Michigan has to offer. Always excited to meet like-minded people, so hit us up if you'd like to connect over coffee/phone! Good luck on your REI journey!

Cheers,

Ani & Janani

Hi @Michael Lloyd 

It's great news that you have the cash in place. Now, it's time to 'invest' in some learning. And, I don't mean spending on courses/real estate guru's for advice. It is being lavish with investing your time but frugal investing your money on learning. Few pointers below:

Pick up a few real estate books to read. (Check out my profile page for RE specific books I've been reading!)

Listen to BP podcasts to learn how others started.

Write down your goals.

Then, translate this into a business plan. (which will change and that's ok)

Learn how to get a deal, analyze a deal and build systems for speed (not accuracy).

Start connecting with agents, PMs and investors on BP in the Michigan market (or whichever market is close by for cashflow/appreciation (e.g. Columbus, Ohio))

Start getting deal alerts on emails/other channels and take action as appropriate. 

Maximizing cashflow is a good start. But you need to work backwards from there to determine the 'how'. Hope this helps!

Thanks!

Great success story, congrats @Nate Klatt!

Hi Joe - welcome to BP and real estate investing (REI)! I'd recommend starting out with getting yourself more educated first. Maybe you're already doing all or some of this, just do more of it. This involves:

• Reading books (the ones I've read so far - Long Distance Real Estate Investing by David Greene, The Book on Rental Property Investing by Brandon Turner, few more authors like J. Scott and Ryan Pineda on flipping). 
• Listen to BP podcasts - ton of info there and will help you learn to speak the same language and make you more confident.
• Setup keyword alerts on BP on cities/markets you're interested in. For instance, I have 'Columbus, OH', 'Michigan' set up to also keep an eye out on the current discussions and who would be the right fit to partner and network. 
• Get active with REI Instagram and Facebook - to network, get referrals, check out off-market deals in Facebook groups, to get added to multiple buyers list from wholesalers on FB etc. I've started connecting with people who are rookie/experienced investors, agents who have been super generous with their time and knowledge.
• Define what your goals are in a business plan - for instance a SFH/MFH, buy-and-hold/flipping/BRRRR, howdo you plan to source deals, what markets, why? etc. It will change multiple times but without one you can get easily lost.
• These are a few I could think of right off the bat. Do all the above on a daily basis, then engage with someone to have a focused conversation to give the impression that you've done your homework, you know what you want and you value their time most importantly. Hope this helps, good luck with everything and feel free to reach out if you have any further questions!

@Eric Ruiz

Thanks for setting this up! Looking forward to meeting everyone!

@Nick Giulioni  - Hi Nick, congratulations! Could you share further detail on your experience so far? Which area have you invested and which ones would you recommend to stay away from, what type of property etc. ?