All Forum Posts by: Michael Porche

Hey @Anthony Parr! Welcome aboard! Well just starting out you have a lot of options of where you can take this! I love small multi-family myself and I also dig Short term rentals. let me know if I can give a hand in any way in regards to those spaces. I got a couple of spreadsheets that have been a lifesaver for me...

Hey @Matthijs Pol!! and welcome to the BP community. There are a lot of ways you can go from there. I would look at how much it costs to use either source. So whichever avenue has fewer costs and less risk, use that form of payment and leverage it to purchase a property that will pay for all that debt you used and more!

Hey @Chuck Patel, it all depends on your goals and what you have time for. I can tell you from owning my own management company, it takes a lot of work if you have more than 2 rentals. In that case, I would vet property managers and ask them how they would best serve your assets and ensure they are not only making the most that they can but how are they taking care of your property as well. After all, that's what you are paying them for.

@Philip Robbins, I'm not too familiar with BP calculators anymore, I have created my own spreadsheets that make a lot more sense to me. What markets are you looking into? If you need that spreadsheet though hit me up!

Hey @David Rutledge, First of all, way to go!!! Definitely an accomplishment! I definitely have some insight on what type of large markets to invest in that are metro in nature that attract not only business travel but also have multiple industries as to keep the overall investing strategy strong. I can see why you would want to diversify in areas with industries other than just travel. The ones you listed are definitely decent areas with multiple industries, however, they are also areas that are up and down with restrictions and very saturated. I have a couple of recommendations that are slightly smaller than those cities or just outside of them. They prove to be a little more useful on ROI and COC. Especially if you have some money to put down. Pm me if interested...

What's up @William Charles, I have a few different checklists I use, one before I buy the property and one that I have for a furniture list, included with links on where to buy them. Feel free to PM me and I can send you the link... took me a while to put it together and I am not sure all items on the list are still available but most of them are generic and should still be good to go.

@Richard Gray, Single-family is probably more desirable for guests from Airbnb, and VRBO However, multi-family is better for you because can get more bookings and have a stronger ROI for your property...

What's up @Himanshu Singh! Probably will stay around for a while I imagine. You'd be better off finding properly zoned areas where you can do commercial activity like that in that area. Are you only looking to invest in that area or open to go to other areas?

Hey @Hans C Hormann! You can't use DSCR loans or Hard-money loans for your primary property. You can only use them for investment properties. If you do a primary you are looking at Fannie/Freddy or conventional loans. Where are you looking to buy?

Hey @Alex Deal, in this case, appraisers will not consider a commercial income valuation of STR's for a residential property. I have yet to hear that being done, I think in the future it may become a thing but I dont think so. If you need help analyzing numbers I have an analyzer I can throw your way... hope that helps