All Forum Posts by: Jason Merchey

I am calling this "off topic" since it is really basically me asking: Since the big STR platforms charge vacationers so darned much for cleaning, service fees, pets, host fees, etc. etc. etc. etc., where could one go to find a low-add-on-fee vacation rental that didn't come too close to Craigslist or a venue that has no Q.A.? I'm in the Asheville area (counties of Buncombe, Henderson, Polk, Transylvania, etc.) in North Carolina, FWIW. I feel like I wish I knew someone personally who has a vacation rental within an hour of where I live (Hendersonville) who could be like "OK I trust you won't mess the place up and you trust that I wouldn't gyp you, so how about $200 a night flat fee paid person to person in cash" or whatever....

No I'm probably not too keen on fractional ownership like Pacaso or whatever. It seems a bit intimidating a la time shares to me, personally, and of course, a high upfront outlay model + maintenance fees.

Ideas?

I'll vote for @BrianBurke 's The Hands-Off Investor. It's wonderful.

He tells all, and shows how experienced he is. And hey, I'm a hands-off kind of guy! But it also shows his ethics.

John it's funny I am in a class that the Hendersonville Sheriff's Dept puts on annually--it brings citizens up to speed about what the dept values, how it functions, etc. Really in-depth. Kind of a rah-rah session but provides some interesting polarized information vis-a-vis what one sees on the news with the dire need for police reform and such. Anywho, it's remarkable how many conservatives around these parts disdain Asheville. One hears a lot of pooh-poohing of not only police-related issues, but just kind of stuff in general. A rough quote from an attendee to a deputy giving a presentation is, "Thank you guys for not allowing Henderson County to become what Buncombe has become!" followed by head-nodding and thumbs up'ing. 

Well, my two cents when you said how awesome Asheville is :)

OK thanks for the feedback, guys. 

So climate-related issues isn't as big of a concern as landlord-tenant-government ones I hear you saying, Nathan. And yes it seems like cashflow/cap rates can be problematic. Plus just the barrier to entry, I would guess: you probably need a million bucks to do something independently (it's like having one $50 chip rather than five, $10 chips if you will).

For those of you who invest anywhere in the United States as I do, are you staying clear of California? Or you figure it's so big and there are so many nuances that if you are very diversified, the assets will avoid being hamstrung by fire or flooding or rent control or a dwindling population?

A lot of folks seemed to really really like Rod Khleif's approach. I attended a boot camp once kind of as an observer (because I will not be trying active syndication anytime soon). Some people swear by his program. I don't know Rod at all, but he talks the talk as far as character, values, mindset, relationships, leverage, and one's "big why". He must have recorded 300-500 podcasts in MF and mindset and success, so he's not hard to get to know--he and Joe Fairless seem to be the leaders in podcasting.

Have you heard of Rod Khleif? He has a very long running show called Multifamily Millions (I believe). He has interviewed hundreds of small time and big-name folks in MF syndications, and he's all about the introspection, self-motivation, self-confidence, and values. He believes it supports his investing skill and success, and he realizes that one's values are the key to it all. He lost his *** in 2008, and has had to work his way back up from zero, and is clear that it's not as much about the $ as it is the relationships, the mindset, and the big why.

Always a good idea! What's the point in having all the money of a Trump or a Weinstein or a Musk if you don't have that thing money can't buy: character, self-knowledge, contentment, and vision? 

Congrats on joining BP Justin. 

Any relation to Joseph Laughter, the men's clothier out of Laurel Park NC?

Why Knoxville vs. within 20 miles of Asheville?

Jason

Thanks for the Capital One 5.0% lead. I was going to put some money into a Live Oak Bank savings account at 3.5%, but the COF CD at 5% is probably better! I presume they let you pull money out in an emergency.... and that it's FDIC insured. I will check.