All Forum Posts by: Kimberly Gamez

Thanks Josh-- Yes I am super lucky we got out of the restaurant business when we did. We actually sold the business but we held the property in our portfolio. I'll check out the podcast you suggested. 

To a great rest of your weekend,

Kim

No— nada? I think this would be super interesting 😅

My husband is from San Luis Potosí, Mexico where we have a beautiful vacation home that he has built for our family. We were thinking about buying property near the water and renting it. Does anyone have experience renting properties in Mexico? I’d also be open to renting our home but it’s kind of in the middle of nowhere. Not sure we’d get any takers 😅

I love startup founders stories. Perhaps because I’m a tech founder myself and real estate investor. So—- What’s the story behind BiggerPockets? I’d love to hear about the early days, how they started, did they themselves raise capital, and any other juice details.

@Stephanie P. Thanks for the info. 😊

@Joseph Firmin thanks!

We have 64 apartment units but have an opportunity to buy a 20 door motel in our town. Most (80%) of their rooms are long term (10+ years) tenants.

Anyone out there convert a motel to apartments?

Should we keep it as a motel since the eviction process is so much easier as a motel?

Any other pros or cons that I may be missing?

@Brian Gerlach do you position yourself like actual apartments or have you done a motel setup in the past with long term rentals? I ask because we are looking to buy a 20 door motel in our town that has 80% of its rooms rented to long term folks (10+ years). Any experience in that game?

Also VR (from your previous comment) What are you referring to? 😅

This might be a very dumb question but here we go. We have multiple mortgages on over 70 units in and around our county. How many loans are too many for one client/bank? Is it normally to get multiple loans per year? When should we roll them all into one and is there a limit/threshold to what local community banks lend? We have a small but strong portfolio and I have goals to acquire 20-40 more units this year and don’t want to look like an idiot for continuing to go back to my lender with new deals. Thanks in advance for your help.

Thanks @Brian G. How much more do you charge for a STR? For reference we charge $750-800 per month for a 2bed/1bath with a one year lease. Also do you keep your deposit structure the same? Would love to hear how you set yours up compared to the year lease option.