All Forum Posts by: Jaron Walling

@Brandon M. You have great opportunity using AirBNB or setting up VRBO! I've used VRBO on 3 different trips. Vermont, Tennessee, and North Carolina. I was big into snowboarding and riding sport bikes. The location is everything. I'd check out other listings to compare rates and demand. 

I rented from a lady and she sends out emails (friendly & concise) once or twice a year. Really tempting to visit Vermont again :-) 

From my experience, researching/reading books, and listening to podcasts, the BRRRR strategy only works with older beat down property. Almost every house sold on my street (A Class neighborhood) won't work. That's a fact.

My non investor friends are like wow that house sold quick!.. (I tell myself... wow someone overpaid for retail property) 

Hey @Samuel Bavido, no offense but I don't understand your strategy. I'm sure you're more experienced than me but the BRRRR plan is based on using CASH to purchase the property (you didn't have cash), you needed more to rehab (you took a loan for this), and then you refi. What's the upside to taking these loans instead of saving for a CASH purchase?? 

That's a lot of risk in my opinion.  

@Tim Greenfield When did you realize you had great tenants? How long have you used the PM? My boss has had the same tenants in his rental for 8 years. It's truly a great thing. He tells me about them all the time and complains about the junk mini van in the driveway, etc, etc, but they always pay on time! He has spent very little on CAPX and maintenance during that time. 

Agreed with everything @Steve K. is saying! This is probably the most dangerous area of real estate. Doesn't sound like you have any safety net for capex or damaging tenants. I would lipstick renovate the property and sell hopefully for some profit. 

While riding my bicycle and training for races I was hit by a car. After surgery, going through PT, and returning to two jobs I realized I needed a change. Working harder, not smarter is a losing battle and it's a game I played since graduating college. Also, my grandpa passed away so I look up to him as motivation. 

Fort Myers is an interesting place. From my experiences the beach is like an island nation or something. Everything was different and people were hippies. I'm sure the downtown area is prime for investing though. 

Good luck man!

The economy is strong and playing a big role in the Indy market. I lived in a C- and now A class location. I can also tell you that people are over paying for properties; the house across the street from me has sold 3 times in 2 years! It's a small 2 bdrm 1 bath, A class neighborhood, and not worth $225k! Just my 2c. 

Sounds like a commercial loan is your only option but interesting situation! 

What type of company would be renting the warehouse? Sounds like a great investment if you can lock down a 3-5 year lease on the warehouse. Is there any deferred maintenance on property? Have you ran the numbers to figure an estimated NOI?

Something I didn't notice anyone talking about was actually getting a good/great deal. In today's market that takes CASH. Like suitcases full of cash because in my market conventional financing loses every time.