All Forum Posts by: Logan McKay Zylstra

Off-market deals are definitely harder to come by in these market conditions. Most people know that the market is hot and typically want to list on the open market to sell quickly and get the most money possible.

I wouldn't be too concerned either, but I would just create a paper trail and note the mistake with your tenants.

Personally, I would ask them if they want to do in this scenario. Stay for the lease term or the stay for 6 months as intended. If they want to stay the full 6 months, I would create an addendum, noting the change to the original lease. 

This won't take more than 30 minutes of your time and is well worth it to better protect you.

It's awesome that you're self-aware and are looking ahead to what this might mean for you in the future.

My first thought is that you're seeing maybe a lot of people on social media talking on camera talking about their successful real estate endeavors. Don't get caught up in the idea that all successful people are on social media talking about their experiences. There are more investors out there who aren't doing that and who are just as if not more successful as social media influencers. Simply put, extroversion is directly correlated to success.

With that being said, real estate is a people business so you will need to make a few strong connections with key people that you will need while investing.

If you are trying to run a syndication, that is a bit different. You will need to partner with someone who is willing to get out in front of people and kiss babies.

I am naturally introverted as well and I really don't see it as a negative attribute.

It is the same process for 2-4 units.

@Andy Vasquez

Short-term rental...think Airbnb or VRBO

Awesome Martin! House hacking is the most powerful strategy for new investors and seasoned investors alike.

@Mordy Chaimovitz

Really interesting take. Your friend has definitely built something remarkable and is obviously a sophisticated investor which I don't want to discredit at all. I agree that the market cannot withhold continual spikes in interest rates and at the end of the day, wages must support the cost of living.

With that being said, he does have the luxury of sitting on $100 million. Inflation will certainly hurt his net worth, (obviously at a larger scale than most) but at the end of the day, he has quite a large buffer between his cash and his needs. It seems like he is at a stage where he is trying to preserve his wealth rather than grow it. Which I think is very wise at that level.

I believe people like me who are trying to grow their portfolios cannot sit on the sideline because inflation will eat away at our buying power. If I want to keep progressing I will need to keep purchasing intelligently because I cannot flirt with the possibility of hyperinflation.

@Chris John

I agree with your take on STRs. I think there is still a window of opportunity for STR's success, but I believe the market will become oversaturated. This will do two things in my opinion: weed out bad operators and decrease margins across the board.

Myself and most people I know still prefer hotels.

@Mike Dymski

I love the mindset!

@Joaquin Camarasa

Couldn't agree more. With inflation out of control, if you don't have assets to ride with the inflation you will get left behind.