All Forum Posts by: Jordan Tinning

@Brandon Stiles I’ve been there! Read all the books and listened to most the good RE podcasts. But I will tell you that none of that will take the place of actually investing your own capital, energy, and problems solving skills by just diving in. It’s helpful to have a foundation, but I’d get started as soon as feasibly can.

My biggest piece of advice would be to underwrite very conservatively. Don’t bite off more than you can chew. Outside of that take action and have fun :)

@Adhirai M. It can be done but it will lock your a$$. Huge learning curve then you have to assemble a reliable team, but like others said it can be done. You just have to love hospitality and managing guests. Wasn’t for me, so I switched to LTR, but lots of people do it.

If I had to start over again I won't start with STR. Too many variables like design, anti-STR regulation, occupancy taxes, but the biggest factor is the up and down of net profit. That said, If you love the hustle and want to put in the work go for it!

@Alan F.

What a healthy and balanced perspective on W2 versus entrepreneurship. The whole narrative around a lot of RE platforms (including BP) is quit your job pursue real estate full time get your time back etc etc. but the reality is that having a good job is often best for most people especially today. Doesn’t mean you can’t get there or shouldn’t work towards entrepreneurship but it’s the other side of the equation that is never talked about and I for one appreciate the balanced (and nuanced) approach to the topic.

@Sabrina Dagostino

Hi, congrats on your success in business at such young age. You definitely have a big head start.

I would start out by house hacking if you renting right now and see if being a landlord is something you want to continue doing.

I jumped in with both feet out of state self managed STR, with a full time job, while being a new dad, and being a first time investor. Ouch! I learned so much from that experience but I wouldn't recommend it at all and wouldn't do it again. Now both properties are LTR and I'm definitely a long term buyer and hold investor now.

So my point is do something like house hacking, Fabiola equity, get great fha loans, and then see if you even like being a landlord before doing any of the strategies you suggested which will be a lot of work and you may end up hating it in the future.

From there your gain experience build equity and can decide what investing strategy suits your goals and lifestyle.

Also read books, listen to podcasts, but more importantly network with other investors at local meetups.

Hope that helps, and good luck!

@Gage Holmes house hack for sure! That’s what I would do if I had to start all over again. It’s a great move especially at your age 🔥

@Jennifer Cramer No problem, and good luck!

@Jennifer Cramer if you are working full time, and travel a lot start with an LTR. MTRs are way more work. Even with a property manager. Start slow, see how you like it and then build form there.

Don’t do what I did, which was buy a lot all at once and try to learn while working. It but me in the butt. I’m good now, but wouldn’t recommend newbies taking on too much, especially if you’re a still working.

Hope that helps and good luck!

@Kyle Sosnowski sure. I self managed for the first year and half and actually made money and got to superhost and premier host within 6 months. But, it was an enormous headache to manage even with all of the “systems” everyone touts as making it more passive. They don’t. You still need to respond to guests all the time you have a cleaner, guests, handyman, pool cleaner landscaper etc etc to manage all the time it’s like having a million kids. Just not for me.

Is suppose if 10k in cash flow would be lifted changing for me then maybe the headache would be worth it but I have young children, a sales career that I enjoy so I don’t need the cashflow. It was juts all consuming and not for me.

Also, the expenses are always more the. You think and the revenue less the. You expected. Sure yoh can do well but I was tired of having inconsistent income.

Then I also made a lot of newbie mistakes too like not theming as well I should have and buying properties that were way too big. So part of it was me.

Anyway, people do it and some people love it but realize that you are in the hospitality business and that’s not for me. I also didn’t like how Airbnb changed their algorithm all the time which dramatically effects your bookings.

Then you have nightmare guests: crapping in the shower, leaving loaded guns under your bed, parties, and terrible neighbors, etc. no thank you!

No I have LTRs and two PMs and sleep soundly at night lol 😂

@Keith Mintz started with 2 now I have 0.. lol I recently flipped both properties to LTR Because STR just isn't for me.

And That’s ok. Maybe I’ll try again later but it’s not for me right now. LTR just works better for me and my personal situation. Got to do what’s best for you and you personal investment strategy.

@Carlos Ptriawan recently switched both my STRs to LTRs. All the guest bullsh*t wasn’t worth it anymore.