All Forum Posts by: Justin Gottuso

What would you do with $250,000 to invest in real estate, from the perspective of a first time investor. What are pro’s and con’s of various strategies? What kind of property or properties would you acquire and what cash flow would you expect based on your experience?

What do you think is the best way to invest $250,000 in real estate? Please name the strategy and say why you think it’s the best way to go. Also fine to share a combination of multiple strategies over a 5-10 year period. Examples preferred.

@Patrick McGrath

Great work on the analysis and seeking BP feedback. Why not present all your data to the seller and say ‘my baseline is $200 per door, in order to get that the price needs to be x.’

If it’s not a great deal, it’s not a great deal. And, to quote Robert Kiyosake, “there is always another wave” aka always another deal. Let it go and take the lessons you learned into the next deal.

@Michael Elefante

Well done!

So... what percentage of your Airbnb earnings go to cleaning? How much do you pay for turnovers? These seem like super luxury so you’re charging how much per event/day/week? Must be really high to cover your mortgage, supplies and cleaning fees and other expenses...

We did Airbnb. 95% booked year round but low rates at $50-65 per room per night which was the gong rate in our neighborhood so with paying for cleaning and supplies we didn’t make much at all our first year. So what am I missing?

Great, thank you so much! 

@Dalyn Hazell

Thanks so much! I have since used deal check multiple times tell me analyze. Colleagues I share the reports with are blown away with the detail and professionalism and end up complementing me LOL it really makes the deals more clear and helps us look good too lol thanks again for sharing!

@Nicholas Aiola

If you’re still active with this forum... I’m preparing for my first year of having rental income on my taxes. What documents do I need to provide to my CPA? Thanks!

How do you find GREAT apartment complex deals? Not just LoopNet lol How do I find complexes with owners who are about to have a foreclosure or have other reasons to be motivated to sell?

The theme I hear in your writing is 'life changing!' Your life, your family and the generations to come will forever be changed because of your choices, sacrifices and now, your accomplishments!! :-) Your story also illustrates a life of faith: "Now faith is confidence in what we hope for and assurance about what we do not see" (Hebrews 11:1 - I believe I see a cross on your mask in that picture, so I feel comfortable quoting the Bible here). Well, now you have crossed over from Egypt to the Promised Land, a place where a whole new world of opportunities is opened up, and where you will CONTINUE to see miracles and blessings if you keep walking in faith :-) 

@Tony T.

Business brain - don’t do it without a parking lot.

Visionary brain - If you’re well capitalized, and since you LOVE and see the intrinsic value and beauty, you are the perfect person to own it because you will find something great to do with it.

But from your responses to others you seem to be in the business brain side of things so I’m not sure you will be ultimately happy with your purchase. BUT if you let go and are ok with it not being an easy do minimal work and find a tenant mindset I think something amazing can come out of it.

I vote for Non profit incubator and office space. If you’ve got money and you’ve been a pastor with credentials you are the person who can make that happen.

P.S. I am a chaplain in Columbus Ohio and have aspirations to do things like this in the future. Would love to connect with you about this.