All Forum Posts by: Justin Rush

Hey BP,

After spending >50-55 hours of watching and researching Pace Morby's videos and training; looking to get some actual students insight on the ROI of the program. Everyone in the forums continually say, "all up to the person, made back my money and more", without ever saying how many deals they've done, what Intrinsic value was provided, etc. seeking ACTUAL results, ACTUAL deals done, ACTUAL ROI please.

For reference, I have capital, time , and a relentless work ethic. I was seeking the membership program to leverage economies  of scale and ultimate velocity of my capital. 

Want to get a last sanity check before forking out > $11,000 in the program membership. 

Any and all feedback welcomed.

@Randall Alan These are amazing responses... thank you so freaking much. I heard something today that resonates with me here, " Do not be a ASK-Hole' . With this, would you be open to connecting in the near future? I am currently amidst funneling leads in for my first deal, where I will have questions that are pertinent to something more tangible. 

@Randall Alan Wealth of experience. A few follow ups (if you do not mind).

1- When you say you bought 12 units, is that 12 doors, or properties?

2- How did you fund these? 1031? ResLoans? ComLoans?

3- Where were these properties, and what was the economics of the deals?

4- How quickly did you scale up?

5- With rent rates + past three years of housing inflation; is $300 still a feasible, if so, where? 

Investment Info:

Single-family residence other investment.

Cash invested: $27,000

Bought my dream home, and top of property had a million dollar view for AIRBNB. So far, spent $27,000 prepping/ building glamping AirBNB on property. Was about to list on AirBNB (already had friends and family booked for aggregated 50 days @ $200 a night), before I nedeed to revert my time elsewhere. Will be listing shortly, estimated monthly income for STR VRBO/ AirBNB estimated @100-150 per night. Has electricity, wifi, HVAC, and stove. Could charge $200-250 a night if plumbing was installed.

What made you interested in investing in this type of deal?

Allows myself to gen erate cash flow on primary residence.

How did you find this deal and how did you negotiate it?

I thought of it myself. I negotiated the price of the geo-dome and the land prep.

How did you finance this deal?

I leveraged my own savings.

What was the outcome?

Current outcome is AirBNB is 90% complete.

Lessons learned? Challenges?

I did everything myself. This was a hard lesson learned. I needed to buy >$2,500 in tools to complete, and at the time did not have a generator and never built something to this scale. With this, Spent >150 hours hammering nails and learning as I went. I could've easily paid a handyman to assist, saving me hundred of hours.

Investment Info:

Single-family residence buy & hold investment in Enumclaw.

Purchase price: $1,150,000
Cash invested: $100,000

Current primary buy-and-hold primary residence. Rolled profits from Fix-and-Flip (Gig Harbor) to purchase new build on 5 acres. Property has a 4 Bedroom, 3.5 bath, and is 3,900 Sq Feet. Features vast mountain views from every window, and has second lot on top of mountain (flat 1 acre with 300 feet higher up the mountain with unobstructed views for 50+ miles).

https://www.redfin.com/WA/Enumclaw/37630-E-Lake-Walker-Dr-SE-98022/home/294806

Goals:
Short Term (2023): Build 'Glamping' AirBNB on top of Mountain to generate cash flow (current conservative estimates are between $1,000-$1,900 a month)
Mid Term (2024): 1- Submit sub division permit for top of property (24-36 month wait); 2- Build second 'Glamping' AirBNB
Long Term (2025-2027): Dependent on market conditions. Goal would be sub-divide it out, build second home on top of property. Current projections would be for a 1,500 sq ft house would cost $550-650k; and we could sell it for ~$850,000- $985,000.

Currently building AirBNB on top of the mountain:
- $3,000 in dirt prep, raising top of mountain up 2.5 feet and flattened.
- $12,000 material to build a 3 foot raised 25x 25 foot platform.
- $10,000 purchasing geodome and furnishing.

What made you interested in investing in this type of deal?

This deal enabled myself to capture the sub 3% interest rate, have amazing views, and acreage to force cash flow

How did you finance this deal?

VA home loan; 1031 100K from previous sale.

@Matt Jones House hacking is not an option for me. I just built a $1.3M house in Enumclaw, Washington; have two kids; a dog; and a wife who prefers to never see a neighbor lol. I will be going to University of Washington. Thank you for your insight. I agree with your sentiment, I need to choose a strategy, then funnel that all the way down to a specific neighborhood.

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@Brandon Goldsmithn I would love to house hack, but as I just responded to @Matt Jones not realistic in this current moment. What markets would you recommend in Ohio?

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@Jessica Parker Thank you and 100% agree. I just locked in a family 800K LOC @ 6%. Now i have the capital locked on, next step-> to your point; LASER FOCUS.

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@Randall Alan I just locked in a family 800K LOC @ 6%, so I can get in quickly into the game. How long did it take you to get to 37 rentals? If you were in my position, what would you do? I want to scale quick;y, to give me the ability to leave corporate ASAP. Ultimately, as it stands right now, for financing: Upfront Cash- $100,000; Disposable Monthly Income- $3,500; Line of Credit: $800,000 @ 6.0% interest. For me to quit job, and to keep the same standards of living, I would need to make at minimum, $5,000 net each month.

Hello BP Community,

Long story short, I am 30 years old, and live in Enumclaw, Washington. I spent ~ 6 years years in the Marines, another 6 with Amazon. I've stocked piled my money over the past three years and finally ready to pull the trigger; however, I'm now debating the market to buy my first Out of State (Long Distance) Rental Property in or near Pensacola, or if there are more creative ways to begin. For full transparency, I have around $80k that I want to generate income and will be going back to school with my GI Bill, SO will have ~3 years of another $2.5k a month to invest. I was looking at Florida... but we know the saturation and inflation tripled housing costs in the past few years. I was wondering if anyone could share their thoughts? I was looking at Notes, Hard Money Lending, Multi-Familiy, S & MTRs.

My goal is to create generational wealth and to master real estate, so I can teach my two boys that you can come from a trailer park and be successful. Any help is appreciated! I am in the process of making this decision, so I can start building my core four.

R/S

JR

@Caleb Drake I will direct message you now!

 Of course Julio direct message me and let’s get this convo starting. I just freed up some capital so ready to talk shortly.

 Hey Caleb! 

I definitely understand that (not 2016 proves anymore), but when I say STR I am looking to put down $125k for 25% for a property that I can come visit a weekend or two a month, then rent out to break even with some marginal upside to cover maintenance.