All Forum Posts by: Matthew McKee

Solid advice, planning your buy box then finding the deal that fits is always a smart move to keep emotions out of the thrill of the hunt.

congratulations @Tenetrice Johnson!!! What a monumental day! It only gets easier from here, keep on plugging away! 

Like any market there will be ups and down, positive and negative trends but at the end of the day, cashflow is king and numbers don’t lie. 

Currently working on converting a clients vacation property that he owns outright in the puget sound, WA area into a STR. Conservative numbers estimate he'll be netting $5,500/month from it. That's more than a lot of W2 incomes and is totally passive with my company managing it.

there’s money to be made, as long as you do your Due Diligence.

Always invest in yourself first. Not to plug the obvious but the bigger pockets podcast lineup are brilliant and free. I suggest never listening to music in your car again. A prime rule of investing is invest in what you know. Seems like you know residential so it's smart to start there. My partner and I are going down to Dayton next month because the STR ROI is pretty stellar. You're set up to get some slam dunk investment properties my friend! Remember, your first three deals don't have to be home runs, the knowledge and experience you gain will pay you dividends for the rest of your life.

I think it hinges on if it's a LTR or STR my team has both property management companies have been project managers of both types of rentals. In my experience STR will be 25-33% more than a LTR in order to be more competitive. That's before furnishing costs, of course.

This is a great opportunity to practice and refine your scripts. If you want an easy action point try reading Never Split the Difference by Chris Voss. View cold calling as the opportunity to practice and perfect the tactics Chris teaches and success in whatever you do will be unavoidable.

In spirit of the title I’ll revert to a past life which was engulfed in psychology; some people just don’t have the investment ‘spirit’. As much as they may want to and as much as they know if a deal or good or not they just can’t bring themselves to pull the trigger or worse, when they do, they’re riddled with doubt.

In no way am I suggesting this is you, I’m merely suggesting that instead of asking others when to pull the trigger you should reflect on whether you’re an investor or a monkey with its fist in a tree.

reference: Robert Kiyosaki, Unfair Advantage chapter 2

 Unfortunately, CA isn’t known for its laws protecting landlords. @Corby Goade may have some connections down there or insight for you.

No one better in the business to know than @Lexey Vezzoso

A point I haven't seen brought up is that the clients of STR's are more likely to be visiting the location in which the STR is located. Visitors often are one of the highest contributors to local economy with very low draws from the economy I.e. visitors earn, draw and make from their local economy and grow, spend or support the visiting economy.

As for morality I think we can all agree that STR are not immoral in a resort ski town because they add to a market which doesn't have much need for LTR because of lack of jobs but high demand for STR because of the geographical accommodations which provides economic stability, allowing for individuals to reside there outside of retirement or remote working.

Too many posts I agree with to quote any one but if you need any more reasons to move to Boise, ID, DM me.