All Forum Posts by: Ryan Dossey

I don't see this as the death of Airbnb but the death of hotels. A buddy of mine just had an Airbnb sharing a room in a grandma's house. She cooked him eggs, bacon, hash browns, and served it with homemade orange juice. He went for a run and on his return found that she'd tidied his room, folded his clothes, and hat a big glass of sun tea waiting for him. 

I view Airbnb like Uber. With Uber I can go to a place I'm not familiar with, meet someone local, get recommendations on what to do, and feel more "at home" with a ride waiting for me. 

Hotels on the other hand while they have a certain "charm" I know less and less people (in my age group) actually using them. 

I'm going to Columbia (South America) later this year with some friends and we didn't even look at hotels. Sure they'll put up a fight... But they won't win. 

@Mindy Jensen I saw that. What's up with the creepy children on the ceiling. 

Man that sucks.

@Owen Schwaegerle Great question! Our staff that handles the incoming leads actually screens for this. They'll ask them if it's listed. 

If so we tell them that we don't typically deal with listed properties unless they're willing to take substantially less than what they're listed at. If so... We call their Realtor set up a walk through and make our offer. 

We've gotten several deals with that technique.

If they ask why... We explain that if it's not selling on the open market at ______ it's obviously overpriced.

 

@Ben Dols I think the issue you're going to run into is your lack of a way to get their capital back out of the deal. As well as some banks being hesitant to fund a deal that has 100% financing. 

Most "savvy" investors can get WAY more than 7% a year on their money. One of my PL's makes 20-30% a year off of the deals we do together. 

You would probably better off looking into doing a BRRR type deal with them.

@Wendy Forbes What is your ultimate goal with the land? That's going to determine a ton about who you need to network with.  

Yes! Bp works with a group for Pro members. I think it's called Smartmove? I remember we got a discount from them for being BP members. It was great. Sent the tenant an email application. They paid through the site. And it gave us the results. I want to say the cost was around $30 for the applicant? 

Ps: Thanks for your service. 

@Zac Conn I ran into a similar issue. But my employer was willing to let me work from home so they pushed the loan through. I didn't work from home and ended up going full time as an investor. But it worked out. 

Your best bet is going to be talking to local investor, contractors, etc. Labor varies WIDELY from one market to the next. I'd use the Network function on Bp. Search for PRO members in your area and start to send some private messages.