All Forum Posts by: Stephen Daniels

@John Zavala This is such a golden idea! Thanks so much for sharing this perspective, I think this could actually work in my area as we are predominantly high income or low income earners here.  

I have recently listened to this episode in the BP Podcast and I could agree more, its a very exciting and hopefully lucrative strategy I can't wait to get my hands on!

Have you made any progress yet in regards to making an offer on a place you have your eye on?

@Pat L. I’ve heard tons of success stories around renting by the room. I know this is a great way to stretch the cash flow of the investment but there is also a lot more wear and tear with the more tenants you have.

Would you happen to have any tricks of the trade for making the property more tenant proof?

So I’ve heard the term “bird dogging” thrown around on the BP podcast and it got me interested in the idea.

My brother in law and I have quite the network of contractors, real estate owners, and investors we would like to try this concept out with.

I’d like to hear some success or failure stories with this strategy for learning from those who are already in the real estate investing. Anything goes here, how to approach them, dos or don’t, has this ever backfired on anyone... sky is the limit.

@Dan Schwartz Thanks for the resource drop, I’ll definitely be reading that.

Good point about student dorms, I hadn’t even thought about that happening.

Very true, I was also considering potentially moving out closer to the new Amazon warehouse where there is new construction. Hopefully locate a street or two just outside of the new construction with existing houses that could use a little bit of rehab. What are your thoughts on the strategy?

@Saxxon Rybski Thanks for reaching out! I will be taking full advantage of your offer, expect multiple PMs for me!

@Pat L. I would also like to take it vantage of this strategy I think it’s a good one that could be pretty lucrative in the right area.

It’s actually funny you mention seller financing because that is the message I am trying to pursue at the moment. How easy or difficult was it to find sellers who were willing to do seller financing in your opinion?

@Jose Bermudez I could not agree with you more concerning the coronavirus impact on the student population. I most recently talked to an academic adviser at the University, and he relayed that a recent survey they sent out to future students revealed that they are expecting around a 45% drop for on campus students this year. For this reason I am cautious about purchasing investment properties until I am able to see what the market looks like in the spring.

@Saxxon Rybski thanks for the Tip about the episode! I will be listening to that one very soon. Also I will be looking up a local lawyer who handles REI. 

I am currently looking to begin my investment journey here in the amazing state of Arizona! Specifically I would like to invest in the Tucson or Sierra Vista markets with a single family home aimed towards renting by the room. SO here are my questions:

How would I go about learning more about the laws concerning renting in these areas?

How would you all go about ascertaining whether or not tenants would consider renting by room?

Any recommendations on must have rehabs / renovations to make prior to putting the rooms on the market?

Thanks in advance everyone!

Steve Daniels