All Forum Posts by: Kurt Hines

Hi All,

I'm brand new in the note space, but have some real estate experience and a over decade of experience managing large projects with teams spread all over the world, which I am hoping will translate nicely into the notes world as an investor.

I'll be attending Papersource this week, as my kick-off into the space. I did a lot of networking in a previous business, and I know how valuable it can be, so I plan on going to multiple events a year. I'm looking for experienced investors to JV with (as a learning experience), and sellers to buy from.

I'm curious as to the unwritten rules & traditions of these conferences. How do I best take advantage of the few days in Vegas? Is the best networking done in between sessions, during sessions, at the bar afterwards?

What do you wish you knew the first time you attended Papersource or another notes conference?

Thanks!

I'm attending, and really looking forward to meeting people in the note space!

Welcome to BP!

I'm considering investing in Lakeland. What happened to this proposal? When I google it, I get articles from last summer about the proposed ordinance. I presume it didn't pass then?

Hi Wayne Snell I've been thinking about NPN's well. I'll message you for that webinar link. Thanks.

One thing I always notice on lettering that has been up for a while is when it is faded or the colors run. I would check the longevity of the materials, so that it looks as good in 5-10 years as it does now.

What are the expenses? Are utilities paid for by the tenants?

Jonathan Newcomb I would highly recommend putting your rental through the Biggerpockets Rental Calculator. I don't think you are actually cashflowing now, and if you refinance, you'll go even more negative. Rent of $1,400 - (10% vacancy) - (10% CAPEX) - (5% Repairs) - (10% Property Management (You may not have it now, but you want to price it in for the future)) = $910. Subtract your mortgage payment, which I assume has escrowed taxes and insurance, and you are left with $3, before your taxes raise up. Even with paying yourself property management, you could be negative. Long term, if cash flow is your goal, you are better off selling this property and buying something else with a better price / rent ratio. If you are just holding this for appreciation, you have to decide if losing money every month will be made up for with appreciation when you sell (and mortgage pay down, tax benefits.) Do some research into the 1% and 2% rule. I don't know what will apply to your area, but that will help you figure out what deals make sense. But always be sure to analyze every deal in depth, with all costs. I'm in a similar boat with my current rental (previous home). If I wasn't self managing, I would not be making very much every month, not enough to meet my current goals.

Alex Winder If you get a multi family (or anything), and don't mind roommates, one way to accelerate your savings is to rent out individual rooms in your unit. I did this in my first purchase (a condo), and a single bedroom rented out covered most of my mortgage. ($400/ month, or almost $5k a year, with the only extra cost being added utilities and wear/tear. ) Add that to renting out the other units, and you can get positive cash flow. This is much easier to do when you are younger. Additionally, I believe you have more latitude in picking a roommate than in picking renters for a whole unit, but I'm not a lawyer, so do your research. Good luck!

Good luck Keri! You just about perfectly described the profile of what I am planning on. Great minds!