All Forum Posts by: Jesse Kerr
Jesse Kerr has started 22 posts and replied 73 times.
Post: Zero To 100 Doors - But How?
- Fairfield, CA
- Posts 79
- Votes 26
Quote from @Scott E.:
My opinion is that it's not a good plan to focus on # of doors. Talking about the # of doors you own will give you some bragging rights at a dinner party. Or it'll give you a great title for your next blog post. But in real life, the # of doors you own alone is kind of a meaningless metric.
Instead focus more on buying quality properties, in strong locations, with a long term strategy in mind.
Regarding your question around raising money, you should start having conversations with various local lenders, other local investors, and high-net-worth people in your network. Share with them some potential deals you have in mind and your investment goals. Start to get a feel for who has money to deploy and who has an appetite for investing with you.
Wished I would've read this a year ago.. I've made so many mistakes thinking "doors" are the answer. They are to some degree, but quality is better I find.
Most of the time it's because everyone here feels like everyone here is a competitor, hence the type of responses and/or suggestions they give.
Post: Who would you like to see speak as a keynote at BPCon?
- Fairfield, CA
- Posts 79
- Votes 26
Someone willing to share failures - explaining how they got into the situation and how they got out. So often, these conferences are filled with "boasters" providing no real experience and/or help for those trying to make this work. Basically the reason why I won't attend conferences currently. Failures is where success grows from..
Post: What are a few ways in acquiring off markets with little/no cash ?
- Fairfield, CA
- Posts 79
- Votes 26
Not the -no down payment- fad.. But what ideas are there to acquire from an off market seller, perform due diligences etc. Could some of you post any experiences with doing this?
Post: How can I find investors willing to coach or mentor me?
- Fairfield, CA
- Posts 79
- Votes 26
Real answer? You won’t.. you have to just…go…do things. Pull triggers, research, then sign the dotted line. Some will say Hey welcome…. Aaaand that’s it…. Pull triggers… not turn pages.
Post: Self Property Management -
- Fairfield, CA
- Posts 79
- Votes 26
Question - How many of you invest out of state and manage personally without a property manager? If you are doing this, how are you handling "boots on the ground" when tenants need to see properties etc?
Post: What forms of payment do you use to pay for rehab projects?
- Fairfield, CA
- Posts 79
- Votes 26
Do any of you use credit cards to pay for rehab projects? I was thinking in using a miles card, but also, could use a home depot card to have the contractor always purchase through my card right at the store.
Post: Question for those over 200 + Units
- Fairfield, CA
- Posts 79
- Votes 26
Quote from @Greg Scott:
The number of units probably has less influence than the nature of those units.
A 200-unit apartment complex will run very similar to a 100-unit or 300-unit apartment complex but will run very differently than 200 SF rentals or even 10 20-unit apartments. If all my people and resources are in one place, I don't need to track time across properties, I don't need detailed tracking to ensure the repair costs are allocated to the correct property, and I don't need all the other complexities of managing a multi-location portfolio.
A very obvious answer.. Perhaps enlighten what you have, what you've done, challenges along the way when hitting X units etc.. Your answer goes without saying. Share you experiences whichever it may be.
Post: Question for those over 200 + Units
- Fairfield, CA
- Posts 79
- Votes 26
Hi - When hitting 200 units, what processes/systems changed? I'm noticing hitting 60 units a few things ie. hiring a personal property manager under payroll keeping costs fixed etc. I'd like enlightenment regarding what changes hitting 100, 150, 200 + units as I'm sure some things start to become issues and/or things to deal with due to sheer volume.
I'm all ears..
Post: Lenders - need commercial financing terms
- Fairfield, CA
- Posts 79
- Votes 26
Dm me with a few