All Forum Posts by: Tim J.

I'm curious what are you going to provide that is better than existing CRMs, LinkedIn, this site, Facebook, etc?
- 

Quote from @Mark Navarrete:

Hello @Anthony J Campanella I’m thinking of purchasing a multi-family in Albany and would just like to know about the current climate of subsidized housing in this area. I have dealt with section 8 in NYC and there is no shortage of applicants that have section 8 vouchers. Do you know if it is the same in Albany? 

You should probably do some diligence locally/with people in the area, rather than relying on some site on the internets...

Quote from @Melanie P.:

DO NOT listen to the advice in this thread from syndicators to invest in syndication deals. These are investment promoters and the investments they market are highly speculative, difficult to evaluate and there is a high likelihood that you could lose your entire investment. Be very careful about sending money to anyone who claims to be an expert in one of these forums or who has a website that seems to talk a lot about the "easy investor life" without much discussion of the very serious risks involved in the investment. 

As to your money, I would say to stand by. There will be opportunity in the next year or two as real estate prices adjust to meet economic reality.

LOL.  I am not a syndicator.  I mentioned that as an option because the OP sounds like he has very little understanding of RE investing.  With that much money,  and asking that broad of a question indicates to me that he could possibly get so much other bad advice.  

No one is going to be able to give him a one-size-fits all answer.

Regarding your comment:
"These are investment promoters and the investments they market are
highly speculative, difficult to evaluate and there is a high likelihood
that you could lose your entire investment. "

That is true of almost all RE investing and other "promoting" that people do.  It seems disingenuous to label on type of investing as speculative and dangerous.  When in fact, syndicators have to comply with federal laws about money raising, and generally the persepectus/info sheets and syndicator's history are quite useful in evaluating deals.

To the OP - ignore the suggestion of finding syndication deals.  In fact, probably better off investing in REITs.

You might want to consider participating in a syndication deal.  You provide capital and are totally passive.  You'll be invested in real estate but won't have the work and learning curve.

Nothing wrong with purchasing and being more active, but given your question it may be useful to take 20% to 25% of that and do passive syndication investment.

Regarding arbitrage - you're a bit behind the curve at this point IMO. I would find some other strategy(ies) to focus on that give you experience and value in the market. For a number of reasons I do not think STR arbitrage is a good strategy right now.

- (more and more municipalities are adding anti-STR regulations
- you are competing against so many other people who want to jump on the bandwagon
- you have no real control or authority on the properties you manage
- you will be held accountable by the real owner and by the renters - but no deep pockets to handle issues

Seems like a niche that is being squeezed out. IMO the money being made in STR arbitrage right now is by people who got in early and by people selling the "learn my 5 top ways to make money in real estate now with no money down!" things.

One poster made some comments regarding Stessa's cash management accounts.  The poster seemingly disparaged Stessa and the cash accounts.

I use Stess and Buildium actively.  I manage 33 units on Stessa - across 4 portfolios.  I have 4 separate TD Bank accounts set up for those partnerships.  Stessa imports the transactions from those accounts.  

We have set up auto/ACH rent payments in Stessa - which requires you to create an account with their bank partner.  I have had no issues with the banking.  Yes, they do not participate in Zelle, but that is not a problem.  We can transfer to our other accounts easily.

I believe Bill Pay is in the works but not positive about that.

Stessa is a great tool for someone who does not want to use paper or excel and has fewer than 50 units.  That 50 number is arbitrary

Stepping up to Buildium may be something you want to do after 10 units, or wait until you have 100.  

The reason I have buildium is due to the lack of maintenance issue tracking and tenant communication in Stessa

You can rent to section 8 tenants in any state and any neighborhood.  You don't have to pick Detroit...

I have had great S8 tenants and horrible ones.

I have had great "cash" tenants and horrible ones.

Screen all your tenants thoroughly.

Take action as soon as you can when any issues arise.

I suggest you educate yourself on the options available to tenants - and what the coverages are.  I do not think they offer a menu like the one you are proposing.  I also highly doubt loss of use is something covered in a tenant policy - that is YOUR responsibility to get coverage for.

Quote from @Timothy J Kimber Jr.:

Hi and thanks River! I’m actually interested in short term honestly Air bnb arbitrage was highly recommended for me to start off. Could you help place me in the right direction? 

Why was airbnb arbitrage recommended for you? 
If you have little to no capital that is understandable, but note that trying to jump on a bandwagon that has left the station already might not be the best course of action...

Vermont and some of its municipalities have laws that give minimum notice times. 

Aside from your local or state laws I would imagine 30 or 60 days notice is sufficient.