All Forum Posts by: Ryan Irwin

Agree with the above posts.  Another option might be to wholetail the deal to another investor.  Perhaps feel out the market with some of your local contacts and see if there is interest.  Additionally, talk to your realtor and get their feedback as well. 

@Dan H. and @James Wilcox I agree with you both.  

This was my third BPCON and certainly there were a lot of logistical challenges for this one.  BP staff confirmed it was a heavy swing, not even considering the whole hurricane aspect.  That said, kudos for them for pulling it off.  

I thought the same thing on the quality of networking was a level higher.  I felt I got deeper connections and conversations.  Vegas is going to be huge.  Hopefully they can figure out a way to combine the positives of Orlando and Cancun.  

Welcome to the BP community @Gabriela Tercero!

Speaking of community, do you happen to live in Des Moines, IA based on your post? If so, please send me a DM and let's connect and get you plugged into the local REI community as that's my hometown too!

Do you know why your property isn't renting?

A couple things you might look at is examine your local market and see what the other like kind properties in your area have that yours doesn't.  Also, when you have a seemingly good tenant that ends up not renting, I always like to ask for feedback on why they chose not to rent.  

The above exercise might give you insight on what you can do to improve.  If you don't get clear direction, then it might be a sign to offload it, especially since it's free and clear and your ROE trend is non existent right now.  

 Great question @Charlene Livers.  On mostly cosmetic flips, putting together a SOW isn't a challenge.  But one thing we do is if the project is extensive (which usually means more potential surprises), we'll have our service providers walk the property with us and provide more accurate estimates on their SOW.

 Hey @Paolo Patacsil great question! Lots of ways to structure this. You could either form a Joint Venture (JV) agreement between you two individually or between your two LLCs. You could also form a new LLC with you both being members.

In either instance, I would certainly have an attorney make sure everything is buttoned up and legal to protect you both.  

Hey @Hawke Morgan as a fellow Iowan, welcome to BP!! So much knowledge and great resources here. Congrats on jumping in and if you want, breakdown the numbers of the offer you're putting together and happy to take a look at it? Also, what is your strategy (buy and hold, BRRRR, STR, flip, etc.?)

Thanks for kicking this off @Rene Hosman! This is my 3rd BPCON and I'm a huge believer in the power of networking, so let's gooo! 💪 

😁 Your Name Ryan Irwin 

🧠 What would you consider your area of expertise - real estate related or not! Entrepreneurship/mindset

🙌 What are you most looking to get out of BPCON 2024 providing value to others and growing my network. 

🤝 Fill in the blank: If I could make a great connection with someone who is an expert in _________ at BPCON2024 then I would leave BPCON happy: Speaking; Would love to get connected and have the opportunity to speak at BPCON 2025. 💪

🗓️ What session are you most looking forward to? How to Flip Properties with James Dainard and crew. 

@Reitta Seidel I would submit that it's always a good time to invest, you just have to figure out what the best options are in the given market.

We focus on first time home buyers who are less rate sensitive and are more likely to buy in all markets.  Higher end home buyers are usually more rate and market sensitive.

I see you're down in Texas, so if that is your market, weather plays less of a factor consideration as it does for us up north (no one likes to move in the winter unless they have to and things slow down considerably).  

All the best! 

Hey @Michael Weleski I would recommend finding someone who is in your market doing flipping/renovations and partner up with them (get to/find a local REIA meetup if you haven't already). Be willing to work/help for free and bring them value. Getting in the trenches not only is the best way to learn, but you'll be on the fast track to make the connections you need (contractors/vendors).