All Forum Posts by: Shannon Robnett

House hack?  You mean like own it and then turn it into a rental?  I have a spreadsheet built that will allow you to mess around with purchase price, rate and additional funds available.   It typically shows a get rich slow approach but also ensures you get rich!  

So my other question then is how is that going in this market and where are you sourcing these deals?  I am interested in the result of your efforts!

Think of it this way.  If you have cash flow today can you guarantee you always will?  If you give the cash flow to the bank when you need it will the y give it back?  I am going to guess you are doing this for more not less control of your life so maintaining control of your cash would be essential for growth and protection against unforeseen conditions.  Besides at where interest rates are at paying 4% for control of where your cash is is cheap.

There are a ton of great responses on here from a lot of market place veterans and I think the theme is the same.  First you have to understand YOU!  Are you the kind that wants to be the go to guy on the 10 unit deal?  Are you wanting to be out on the street finding the deal everyday?  What about dealing with move outs and carpet replacement or bad property managers?  For some of us that is what makes life so great!  But for others that sounds like a recipe for pain and heart ache!  I know this in my own life because my father loves nothing more than to get out in his shop and build a cabinet or stool or what ever is needed at the time, and I am more of an Amazon Prime guy!  My father is not wrong to want to build his solution, nor am I.  But if I think that I will be happy in his shop trying to build my garage cabinets then I am in for a rude awakening and a miserable experience. 
I think the most unhappy people in real estate are the ones who are trying to do what they do not want to for the prize they see at the end.  If you can get in on your own deals and like that ....Get some!!!  But if you want to spend your weekend doing enjoyable things then partnering through Syndication is ideal because you are getting solid returns from known parties.

We are seeing explosive growth here in Idaho as the rest of the nations starts to figure out what you guys are saying about larger cities. We are also seeing job growth that many of the other areas that are "affordable" for investors just are not seeing. Lack of job growth makes for a scary situation when the music stops and this economy cools down. So while we may not have 8 CAP's we have 11-14% rent growths that are the star of the show right now.

https://www.ktvb.com/article/n...

https://www.idahostatesman.com...

@Jordan Thompson here is where real estate investors need to understand that building a RE empire takes time. But start off thinking inside the box before we venture outside the box. Why not buy your first house with an FHA loan and move into it and rend out a couple of the rooms? This is the start of your cash flow model. then patiently grow your funds until you can step into another deal? Dial your sights into your budget and it will all become attainable, but looking to go big quick can be your demise.

I totally agree with @ShilohLundahl. However I do not think that anyone is saying that because you only have a small amounts of funds you should not invest in RE but that you should look at some other strategies that would offer you better chances at success. Partnerships, JV or syndication are great ways to learn the ropes, and while they come with some risk if you do your due diligence and attempt to vet your investment partner you should have a decent chance at success.

Help me understand the wholesaling process?  I am curious as to how it would work in one of the hottest markets in the nation, not knocking it truly just curious.  I have no knowledge of wholesaling at all so we could start there as far as educating me.

Hello everyone. I am new here and looking to see if there are tips and or tricks for how to attract equity placement out there. We are a local developer/builder in Meridian Idaho.  After you make your potato jokes go ahead and Google Idaho and you will see we have made no less than 35 top 10 lists in 2019 and almost as many the year before.  I have just finished a 180 unit ground up development and are reaching stabilization.  I have been working on another small 36 unit project and when I approached my current partner (family office) the let me know that the project was too small $5.4M with $1.3M equity need.  I have secured 70% LTC non recourse financing and am simply looking for about $1M in equity but have really struggled to get any real traction.  I would love to get a few pointers from those of you that do this regularly to see what I may be doing wrong or not asking   Returns are projected to be in the low 20's on a 12 month duration.  Let me know if you have interest and I can send you our OM for you to review and comments.