All Forum Posts by: Victor Steffen

@Blake Anthony Carter runs a really cool Short Term Rental meetup and they have been getting together regularly. Several people who attend have exposure to syndications, long term buy/ hold, STRs, wholesaling etc etc. might be a good one to check out. 

I look for job growth, population growth and wage growth. SC has the job growth and population growth but their wages have been basically keeping up with inflation. Cities like Greenville and Charleston are working to attract higher paying jobs (tech and finance). It's an identical situation to Austin prior to the tech boom. Once SC pulls in a name brand HQ I think the flood gates open and we have our new hotspot. 

It's good to know that there will ALWAYS be a better time to buy. Accepting that you will never be able to hit the bottom of the market or the most favorable interest rate environment takes a lot of pressure off of you as an investor. If you can walk into equity on a cashflow positive property in a location that you're comfortable with then hammer down on it. 

South Carolina. Greenville and some of the Charleston sub markets. It has all the ingredients that Austin had 7 years ago. 

TenantCloud should be your next stop. @Brandon Rush already mentioned it and it has everything you're looking for. auto draft, maintenance requests, the app is very tenant friendly, reporting.. I use it for our 10 SFRs that we self-manage in TX and no complaints. 

I've purchase 4 properties over the last 3 years with seller financing in place. 1 of them was a FSBO on zillow. The other 3 were through realtors. In general- it takes the right realtor to explain the concept and be willing to coach the selling agent through the transaction. It's a lot of extra leg work with a low probability of connecting so it's understandable why it's tough to find agents willing to knock down the doors. All conversations were opened like this: "I'm really interested in 123 Maple st and see it needs some work, if it can't qualify for conventional financing would you be willing to carry paper?".

Hope that helps! 

There's no shot I would sell that home. It's a golden goose that will be IMPOSSIBLE to replace. It's worth more to you than anyone else in the world right now. I assume your goal is to build a high quality cashflow positive portfolio? Why eliminate the very asset you're trying to cultivate?

Lots of ways you can argue the above- curious to see what others say. 

Surprised nobody mentioned the hill country west of austin TX yet. Might be closer to 1.5 for something with views and water access but there are several investors in the area doing great things in the luxury STR space.

Join novice and experience real estate investors at our monthly networking event. Held at Super Coffee HQ in South Austin Thursday April 21 from 630 to 830pm cst. this week we have 2 real estate attorneys discussing landlord tenant law, entity formation and answering any of your real estate related legal questions. We will have time to meet/ greet other investors, announce to the group who you are and what you are doing or looking for in the industry, and collaborate with other industry professionals. come as you are. It will be a fun time! shoot a text with any questions: 5707801838

Looking forward to seeing you all again,

V

Likewise Jason!