All Forum Posts by: Justin Rush

@Alice Horn I have not! I was looking at Cape Coral, as it seems up and coming coastal area. I was in the Marines for 6 years, so I am more comfortable getting rentals near bases.. more notably, Pensacola Naval Station! However, please contact me directly so I can hear more insights from you!

@Daniel L. Please contact me directly! 253-951-62254. I aim to have a BRRRR under my belt before end of the summer, so I can quickly surface answers to questions I do not know to ask; enabling me to scale to your level. Right off the bat, what is the target cash flow per door (in understand this is 100% dependent on 150 variables- deal, funding type, type of house area, personal goal target, etc.)? My 6 month goal is 1 door, 12 month goal is 3 doors, 24 month goal is 10 doors.. overall, 10 doors by 30 years old. This is exclusive to the Florida market, but to quite frank, I want to invest in locations that i would want to visit. No offense to Ohio (other market I've looked extensively), but I live in Washington.. love my home state, but I despise the cold.

If you do not mind....

1) what is your min., max., average rent and cash flow per door?

2) Could you provide a example of the OpEx for one of the properties?

3) What strategy did you use?

4) What funding did you use?

5) What knowledge "Golden Nuggets" could you provide to myself, and the ones viewing my post?

6) Is there anything else  your willing to share about your experiences? 

@Matt Jones Please contact me directly, so I can start hearing more about the comps in the area and the 6-12 month forecast growth. Truly, I would appreciate your assistance. My goal is to research 80%, then the 20% of the remaining questions will come later. Realizing that until you jump head first, you will not truly know what questions to ask. Excited to hear from you!

@John Thedford Thank you for that insight. What areas that you would suggest, that are "Pre-Cape Coral Boom"? Please reach out to me John 253-951-6224.

Originally posted by @Stetson Miller:

@Justin Rush I'm actually from Destin originally (about an hour East of Pensacola), but now live in Fort Myers (right next to Cape Coral), so I would be happy to offer any insight you need into either market! To answer your questions more specifically though:

-I don't believe any specific market is going to be better or worse for long distance investors. All of the pros and all of the cons are likely going to be found anywhere you go, regardless of the area. 

-There are specific laws that govern short term rentals in multiple places throughout Florida, and anything within an HOA restricted community will likely have a complete ban on anything less than monthly rentals. This is something that must be dealt with on a case-by-case basis, but you can make some basic eliminations from local municipalities that have completely banned short term rentals, or made them near impossible to operate on a small scale.

-Again, I would be happy to assist with any purchases in Cape Coral, and can recommend attorneys, property managers, and contractors in the area as well!

@Stetson Miller: Please reach out to me, I absolutely love Destin. I appreciate your insight. Is the HOA restricted at the community level, or is this county/ city wide? Is the laws regarding short term rentals, restricting owning multiple AirBNBs across multiple cities?

 Either way, please reach out to me either through BP or contact me directly 253-951-6224

Thank you! Long term, I do not want to live anywhere, but have the ability to jump in a plane and go everywhere. However, I used to go every summer to Pensacola/ Navarre area. I fell in love with it every since then. In the current state, I work for a major company, getting paid very well, so we decided to stay close and moved out to Gig Harbor a few months back (live and flip). Let me know if something comes across your way, so we can potentially work on something together!

BP Family,
I’ve always loved only handful of things, two of them are Florida and Real estate, so I want to combine them both. This is a dream of mine and what I want to pass to my children. 

I’ve also done my due diligence, read hundreds of blogs/forums, and the obvious areas investors are piling into are- Tallahassee, Jacksonville, Pensacola, St. Petersburg, and Cape Coral. 

I live in Washington, so I am seeking assistance. For insight, I have multiple avenues for funding, and aim to BRRR and hold the properties long term; however, also willing to leverage market specific strategies (AirBNB, etc). With this my questions are:

• What market would be a better one (highly subjective so cannot say the best) for a new long distance investor? 
  Are there specific nuances I should be honing in on (I.e., FL specific laws, etc.)
• Are there any recommended attorneys, real estate agents, contractors, property managers anyone wouldn’t mind pointing me towards? 

Hello BP Family, 
Over the past few years, I've been stricken by the infamous "paralysis by analysis". I've always wanted to jump into the abyss, that we love to call real estate investing, but cannot quite pull the trigger;however, times have changed. I did a extensive amount of research on note investing and wanted to see if anyone would be willing to share their knowledge with me on my first note purchase, which I aim to do within the next 30 days; holding me to a strict timeline will force me to take the leap of faith.

Much appreciated guys.

JJR

Originally posted by @David Pere:

@Justin Rush throw a dart and choose one! Look, if you narrowed every market in the nation down to a list of 5...they are all probbaly just fine. Either A) go with the market you're most familiary with personally, or comfortable with, B) choose the market you know the most people in, or have a team already, or C) just roll with one. 

Don't get hung up on the market, make a decision and take action to build a team there!

Thanks David! I was thinking the same, but everyone's comments solidified this.

Hello BP Community,

Long story short, I am 27 years old, and live in Bonney Lake, Washington. I spent ~ 6 years years in the Marines and now work remotely for largest E-Commerce company in the US (good ol' Amazon), as a Senior Supply Chain Manager (since 2017). 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. The following markets are on my list (not in priority):

1. Pensacola, Florida
   
2. Jacksonville, Florida
3. Louisville, Kentucky
   
4. Cincinnati, Ohio
   
5. Austin Texas Suburbs (i.e. Kyle / Temple, Texas) 

My thought logic, understanding the plethora of unknowns (delayed inflationary impact of continuous QE from Powell and impending foreclosures from eviction forbearance, etc.) I knew that I could either: 1- Sit on the sidelines and wait until everything pans out or 2- Get started in a market, which would require low house prices. #1 is out of the question, as I know unless I do #2, when the time comes and the dust settles, I will not have the experience to realize, or be able to execute upon a great deal. So I am choosing #2; although, I am still debating the market in which to take a leap off of. I was looking at Pensacola Florida, as I could buy a $30K in cash, and pay the ~$30K rehab in cash. I would own the property outright, so It would make me feel better; however, I am not sure if this would or wouldn't actually ease my mind (and my wife's) about investing 60K into a house that is on the complete other side of the nation. 

After reading David and Brandon's books, binged read (BRRRR, Long Distance Investing, and How to Invest in Real Estate) over the past week, which solidified my confidence in this decision. I aim to start with one property, so I can build a solid foundation, then I plan on BRRRR'ing that one and then either: (1) buying 2-3 similar value/ type of properties- SFHs, with a $30K value/$30k rehab, with a ARV of ~$100K [~$40k in forced equity] or (2) use the established system in a higher priced property $100k value/$40k rehab, with a ARV of ~$200K [~$60k in forced equity] .

My goal is to create generational wealth and to learn real estate, so I can teach my son (4 years old) when he is old enough. Any help is appreciated! I am in the process of making this decision, so I can start building my core four.

R/S

JR

Much appreciated, best of luck to you 👍🏼Urgent, as I don’t wait for things that I want. I either give my 100% or nothing at all, has enabled me to knock everything out of the park, from my military career to building my current investment portfolio! Only 27, and a few years away from retirement, so now just trying to set up my two boys as best as I can. Either way, let me know if you need anything! Cheers 🍻 

Hey Fellow BPs,

I am new to the RE investing world. I am a USMC Vet, who now works for a large corporation. I was born, raised, and still live in the great state of Washington. I have a sizable  amount of equity in my house; however, I’ve saved up six figures that I am ready to use to plant some seeds. However, as many know, Washington has become very pricey, so I wanted to look abroad! I almost bought a property in  Belize, then I convinced myself not too. I’ve wanted to get more involved with RE for the past few years, but always made a excuses not too...

I just got done with both of David's books (BRRRR and Long Distance)- which were LIFE CHANGING. One thing I am still seeking is a visual blueprint to run off of. I am still in the process of deconstructing David's books and developing a visual info graphic that outlines his books in a visual form ( I will post it once I am done!)

 With this, I know a savvy investor will not willingly share the secret sauce; although, I am still searching for the first steps. 

With this...

1- what are the implications, benefits of forming a LLC? when should this be created?

2- is this dictated, or influenced, by the areas I am investing in? 

3- what types of accountants and lawyers do RE investors use? (Met with a few who were sub par and would never divulge any personal information to them). Are there specific speacilties I should be looking for in a lawyer/ accountant? What questions should I be asking them? 

4- Is there anyone that needs help do anything. at all? I am a learn-by-doing person, so it is a logical approach to jump into this community and start helping anyone in need! 

5- what are some markets that anyone is investing in (out of state friendly), that I can get some reps in? My goal is to BRRRR at least one house by the end of the year, collect my lessons learned, hone my system, and then apply that system to scale... quickly; aiming for 5 BRRRSs by July 2021.

6- are there any lessons learned, that people found starting off, you wished someone would have explained early on? 

7- what areas should I avoid? 

I’m genuinely excited to meet you all 😀Please let me know if I can help anyone out!!!!

Justin Rush