All Forum Posts by: Jeff Piscioniere

@Adriane Boggs where are they out of? Any idea if they operate in CT?

@Tim Johnson would you mind sending me some info or links on the products you offer?

@Tim Johnson 2-3 unit range more than likely but definitely 4 or less.

Does anyone know if there are national or regional lenders who will mortgage an investment property with as little as 20% down payment? The location of investment is in Connecticut and it’s a partnership of investors although the mortgage will only be in one or two individuals’ names.

Thank you in advance!

@Tyler Harris definitely find a partner and I’d go a step further and say partner(s) even for the long run. You will be able to scale quicker with the old fashion notion of strength in numbers. Find some like minded friends if possible. Could be a great opportunity to further bond with those friends. On the flip side it could destroy friendships if you’re not careful. Good luck!

@Michelle Denardo either way congrats on choosing an endeavor that if done properly will lead to a life of financial security out into the future! I think the first thing you might want to determine is if you’ll be doing this yourself. Do you have any real estate experience? Any hands on skills? Does your regular life allow you the time to address the accompanying responsibilities? If any of those answers make you suddenly question your ideas, no worries! It is very possible to do on the side! I might suggest considering a partnership, be it with loved ones, like minded friends, or like minded investors. As they say, strength in numbers, and that’s not only when it physically comes to needing to take action, it’s strength in numbers for peace of mind purposes.

I personally owned a 3 family on my own many years ago and being a landlord on my own had me overwhelmed to the point where I came home one day and says to my wife, that’s it! Fast forward 10 years and I regret selling that property because I’m now smart enough to realize I should have delegated the little things to the professionals because my time was more valuable that doing everything on my own, ex: raking leaves in December just in order to get them out to the street in bags in time for the city to pick up. I could have paid someone $75 to do that!

Now I have a partnership owning a 2 family with 2 others. It’s gone smoothly because we take turns, work together, delegate what we can’t do, and don’t panic. To me personally, it’s because I have faith in the partnership. I also own and self manage a vacation rental that is 700 miles away from my home but it’s only because I have a “team” there that communicates with me.

Now my next endeavor is looking to flip. I’m trying to convince my partners the value that could be produced but I’m also open to meeting halfway with a distressed property rehab to refinance out of to repeat and hold as a rental property. One if the things I need to study mire with the flipping concept is the tax implications. I large chunk of your profits are going towards short term capital gains. That’s worth a discussion with an accountant.

Keep studying here on BP and never be afraid to ask questions. And spend time with like minded people. It will alleviate your fears and uncertainties.

Good luck!

@Chris Watson the added bonus to that 30% increase is all the money you saved in fees since VRBO’s fees are obnoxious vs airbnb’s!!!

@Chuck Kramer probably a debate to be had for another day, but I’d love to hear which listing sight brings the most bookings for people in The Smokies. For me and so many of the people I speak to and know in the area it’s AirBNB hands down.

@Avery Carl ROI has got to be getting tight now though? The cabin I purchased in May of 2016 has appreciated 30% in value. That concerns me that a bubble could be coming. Great for sellers and great for owners sitting on equity but I'd be a very leery as a buyer now. Correct me if I'm wrong.

@Noah Barba I’d say outdoor. It’s summer time and the weather is conducive for growth. If you were to wait you might run into cooling weather and things might not have been established and you could have a palace inside but if people are driving by a wreck, there goes your first impression.