All Forum Posts by: Jared Hottle

I think if it is legally possible in housing ordinances and HOA then go for it. You can always worry about things that never come to fruition in this complex world we live in. If neighbors start complaining be open with communication to figure out what exactly the problem is and try to accommodate but above all I think going for it is a big step.

I believe you can do it on just on airbnb

I think there are plenty of markets to go to to make this happen the hardest part is finding which one works best for you. The worst thing to do would be picking a couple markets as it is intensive to find the right teams and systems in those areas especially with only 50k. 50k focused in one cash-flow affordable market is the best way to do it, so I say chose a market you have some connection or competitive advantage in. Is there an area where family is? Or do you travel for work to a certain part of the area, etc. Having those connections could really keep the costs or mistakes down as you learn the area and find your team. 

We send the 3-day notice when they are late. It cost money to serve but typically this gets people to pay. If it doesnt but they communicate a date when they will have it paid and then follow through we don't evict. Communication and trustworthiness are important but always send the notice when late. This is a good systemized process to have and keeps you from getting caught up in the sob stories. Remember you are running a business.

I think one major draw to the medium term rental is the demand for them is pretty inelastic so they can work in a lot of markets that are not considered destination markets. I am unsure if I would want to play the speculation game of where people will chose to work from home on a month to month basis. 

To me it comes to finding a great deal. Having the hustle and knowledge to find a great deal and you will find someone with the money for the down payment. Obviously you will need to do some networking with friends family, real estate meetups etc but I know a lot of people who will invest if the deal is right so it is just finding the deal. You can have anything you want in life if you help others achieve their goals. 

What has been working for me is a prescreening questionnaire on google forms with 25 questions. Long enough that it shows some level of motivation to fill out but also completely free. From there I will do a background check and check social medias. If everything looks good I will have them set up a time to see the place. Once they select the time I give them a code to the door and have them give me feedback. I change the code periodically but I love this as they can see whatever they need and I do not need to waste time with showings the most labor intensive part. I will ask for feedback and if they like it I will start the leasing process. 

More deals popping up on the MLS now but also I would say driving for dollars in neighborhoods you would like to invest in or calling mom and pop for rent signs work well too

I was in a similar boat as I was a college coach and lost job right before covid. I think you have some good translatable skills if you take what you used helping others in coaching. Real Estate investing is a people business just like coaching. Listening, helping others achieve their goals, putting yourself out there, etc are all very important. I would start by finding an investor friendly agent on Biggerpockets and set up a meeting with them and let them know your goals. From there I would tell everyone you know that you are interested in buying real estate, driving for dollars and contacting owners is also a great way to start networking and see who wants to sell. 

Habitat Happy Hour - This month we will be taking a scooter tour to some rehab projects being done by Habitat for Humanity in the Church Row Neighborhood of Waterloo. Schedule as follows:
5:30 - Meet at Singlespeed to get a scooter
5:30 Scooter Tour
6:30 Debrief Happy Hour at Singlespeed