All Forum Posts by: Pierre E.

@Kazumi Boyd

Everyone says cant time the market

Everyone says its always a good time to invest in real estate

I think those are true… but I also get that until you are at a deal flow of a certain level, you dont have enough ammunition to “take shots” at a regular pace… and if you dont really have a regular pace… or if you have ONE bullet for a year or maybe 3 or more years…. How should you use that bullet? Its like in the wild… do I use the bullet to kill a bear charging at me, which might be never? Or do I use it to take down some elk and eat well? Or do I save it and try to hunt with a bow and traps?

I don’t have YOUR answer… but my answer as I had thought about this… keep moving forward. You cannot predict what ill happen, but you (me) should always do one of two things… take action… or prepare to take really good action. Theres not as much glory in the preparation… but what I realized is if I have a plan, and I am strategically preparing to exceute that… im ok. It not the “Key action” I want but its action to prepare for the next key action.

If I am saving up to be able to buy a great deal, or if I have specific criteria, or if I decide I am going to pay down debt while I learn how to do out of state investing… including using some funds to get resoucres do training or find mentors etc or fly and build a team somewhere.. I am preparing for action. If I am jjust holding my bag and waiting for the market to change… thats not preparation. Unless I have very sepecific clear reasons, and high probability, and a plan.. I need to be doing more than that. Whatever my next key action should already be decided, and then I build toward it no matter how long it takes.

In the wilderness example…. It would basically be preparing for two key actions at once. If there is enough food to eat without sing the bullet, keep doing that. Then fortify my self and area to defend against a bear to reduce the need for using the bullet like that. Eventually, it will come to the point where either theres absolutely no need for the caribou, so i hold the bullet, or theres no need for worrying about a bear…

That is how I currently look at it as a rookie. I dont have seasons advice to give you… just sharing my own situation.

(Currently one goal is to learn how to invest out of state, so i go where the market is best for me, and then two, is reduce the bottlenecks and create a plan to scale, both to reach a goal of financial independence via real estate)

Good luck!

Is it worth it to encapsulate a crawlspace for a house I intend to sell in a few years after renting?

thank you for that!

Within one MSA, would doing a flip on a property that has less square footage same final ARV be better than doing a flip on a larger home with similar ARV? For example an inner city rowhome vs 30 min away a detached small mansion with the same general ARV. Am I thinking about this the wrong way? Smaller house less supplies? Or do contractors tend to up their costs regardless?

If someone did a live in flip for example, how might one type of property be better than another?  

 I only saw the contractor list. Thank you for the suggestion! I'll check it out

Hello BP People, 

Anyone know a good way to find a lender with experience with the FHA203k Loan? Specifically looking to refinance an existing loan and do some major changes. 

@Leslie Anne Morris

When did you get into investing in Pigeon forge? It seems like everyone is there and it is saturated?

Emm so... I spoke to soon. Apparently there are several areas in the US alone named Mexico... (technically not Mexico City but... meh)

 LOLs!  

Quote from @Trent Reeve:

all depends on your appetite. we bought our first STR in Panama City and i live in Atlanta. hasnt been an issue so far remotely managing

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soooo... I saw Panama City + Remote (meaning not in atlanta for you) and that meant "Panama City, Panama"... you know... that country in the same general body of water as Grenada... Who knew there was another PANAMA City lol. who knows... maybe there is a MEXICO City in West VA

Anyway... I have been really hoping to get more information on international STR investing I think I saw what I wanted to see and... ran with it. lol. Trent do you do STR in ATL?

That much cash gives strong power to leverage.

I would use that to generate sweat equity on STRS buying 3 in the best performing market you can find, then use remaining cash and equity and leverage that into 3 STRs in another top performing market to diversify and spread risk. I would stay in two markets and scale, which allows you to really build strong teams

I would then take the cashflow and use that to add another property every year or so in each area as good deals come along

Or i would adjust, if i felt like it would be less work to be in just one market or one performed better overtime i might shift to that market eventually owning them free and clear reducing my risk, and then heloc those properties in first position to help utilize their equity to do something else like short term private money lending etc