All Forum Posts by: Michael K Gallagher

@Vanessa Lule not sure if you are local to that market, and I am not in MTR myself, but my clients who have done it went as far as touring the market, introducing themselves at long term hotels, speaking to construction companies, and talking to friends and contacts that they could arrange to speak to who were travel nurses to get insights.  

Candidly I'm not a huge fan of the Arbitrage method but that's just not the investing I'm trying to, but in this case if you could get a shorter term than 12 months on your end of things that would reduce the risk in my mind, as would flexibility of use case.

I've got no experience here but I like the business idea, I'd say like everything it will come down to the details and efficiency of the operations once up and running.  

@Alberto Fernandez not sure about NJ specifically but my parents live in NH and recently changed their house over to mini splits.  They suplement the heat with a wood stove, and do say that they units apparently are not all that efficient below 5 deg F which as I'm sure you know is not hard to get to in the north east.  They are happy with it but because of the combo of things they have I think.  

@Trenton Self congrats on the deal, sounds very cool.  reminds me of the "trixy motel" method.  stayed at a similar style property in santa cruz california I believe, think by that point it was some kind of "boutique" marriott or bonvoy brand.

Just got back last night from the Urgent Care Association Conference in Dallas, and wanted to jot some thoughts down, more interpretations of many discussions had at our booth over the 2 days we were there.

- A discussion on data analytics and its use in site selection of Urgent Cares specifically, and how that translates potentially into high revenue dollars for a business was honestly a talk that we thought would be poorly attended. Not because the info was poor or anything but it was just at a weird time on what would normally be a "check in/travel day" for most conference goers.  The talk ended up being standing room only, and some of the discussions spilled into the hallway after.  

- There appears to not be the sheer volume of operators looking to get into the industry as there was about about a decade ago, however, there seems to be a consistent interest in the med start up world as a way to launch a business career that has a relatively high barrier to entry.  

-While there are certainly clinics that are closing around the country, the discussions we had we operators in the 10 unit and under range was overwhelmingly around the topic of growth.  It seems that like with real estate and any business it doesn't matter how much money you throw at a "problem" you cant substitute for good operators.

@Richie Martin I'm a little confused by the question, but general commission fee structures are very market, asset, and price level as well as service level dependent.

the structure you'd get buying a $2.5M commercial asset is likely different than a $250K duplex.

On the buy side of deals I have a minimum fee.  So the buyer knows up front we will try and negotiate the seller to pay a % but ultimately they will make up any delta between that and the minimum. 

@Amanda Shire Licensed TC is a good gig, and with your background probably a very productive move.  As far as systems and templates specifically for transactions, I'd ask around the office.  There are likely other TC's that are doing well and big volume, but if you are just wanting to understand what are good tools to use to handle template communications and such....then I'd 1 up the dotloop item listed above, a project management system like trello or something would be great and then you'll likely want a crm if your don't already.  if you do you'll obviously want that to tie that into whatever tool you do pick.  

wow really love the design, and more than anything I love that you went in with "intention" those are always the projects that seem to do the best.

Hey Marisa, welcome to the forums, this is a very powerful place.  don't know alot about you or what you are looking to acomplish but there are many different asset classes and property types out there to get into.  

I'd recommend trying to connect with people operating in either your market if its local or the market you are interested in, and see if there's a way you can get involved on the front lines.  Doing is the best way to learn and many people in this business are so busy they can't even lift their heads up to ask for help.  Plenty of value to be added.

@JM Edward fantastic question thanks for posting.  I find that I really go through stages of "feeling" either balanced or chaotic or whathave you, it seems to just be the nature of the business.  The biggest thing I had to get through my head is that there is no "done" and that people will take up all your time if you let them.  This seems basic, but the key to "balance" for me was setting boundaries and limits with myself, and then outward with others.

Some people touched on it here already, but efficiency to me is the goal, I want to make the most money with the least amount of my time or energy inputs, and certianly don't want to spend my time doing anything that i don't enjoy or feels heavy.  That's the goal or balance I'm striving for.