John Kane
Active 1 year agoForum Replies Created
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Posts
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Hey Jackie,
Hope you are doing well. We are getting a few good snow storms in Colorado to open the ski resorts.
I bet he would advise to buy and sell as fast as you can. Use options and master leasing to stay safe. Cashflow will be king if the music stops.
Sell any underperforming properties now while the market is hot. Create alliances with people that you can help in tougher times and vice versa if you fall onto bad luck. I believe that Jack would see this market prime with opportunity to anyone that is willing to participate.
Happy New Year everyone and make your good luck in 2022!Airbnb rentals were banned for months because of co-vid. If this happens again we will see a large shift to long term rentals. Unfortunately there will be no demand and tons of supply! I believe the only reason we are not seeing major problems yet is because of massive gov’t stimulus.
I’ll try to update as we go through the summer.Hey Jackie,
It seems like this might cause a problem that will affect everyone. There has been a lot of housing built with the thought that there is unlimited demand. I think if this lasts for more than a few months there will be over supply in my market. This will be a buying opportunity!
The last economic slowdown put our rents down over 20% for 5 years. Buying with seller financing and masterleaseing will work well. This would be a great topic for a conference call. I will let you know when I see any change in my local market(Colorado).No, I have created spreads on the sales of the properties with options and selling for my owners. Most of the properties we master lease provide more income and upside without ownership. The cashflow keeps the lights on and the spreads provide capital for better deals.
Depending on your market converting to owner carry in the future might be a better option for you. The master lease lets you get in the way, it’s up to you on creating the next step. It will allow the time to build trust and let you test drive the property. My market is Breckenridge Colorado and the surrounding area.I have done a fair amount of direct mail in the past for master leasing. I used it as a way to to get owners to talk to me about what problems they were having at the time. I always choose specific areas that fit my need. I would send post cards to areas with high end properties or high demand that would not makes sense to buy but would provide good cashflow with a master lease. Also, I would do the same thing in areas I did want to buy.
Most of the time I would send out 500 post cards or less and usually picked up one deal. Pick your areas and stick with it!The tag line on the postcard was always a problem point,
TIRED OF VACANCIES?
TIRED OF TOILETS?
TIRED OF TENANTS THAT TAKE ADVANTAGE OF YOU?
NEED RENTAL INCOME?
TIRED OF OVERPRICED CONTRACTORS?Down turns are the best time to find great Deals!
We are stacking up masterleases, occasional options and discounted notes. Be ready with cashflow now so you can scoop up more deals. Also, talk to everyone you know who has money to invest. YOU DON’T NEED TO HAVE MONEY TO MAKE MONEY.
You do need the know how to handle deals and other people’s money. Get ready now.John
Hey guys,
Glad to hear you are ramping up your biz! Christmas was a great powder day.The best way I have found ML’s is by talking to people. I started by telling everyone that I knew that I was renting houses long term. Not only people I had business relationships with, but also friends, family, and people that already trusted me. Also, I neversay I will master lease your house. I tell people that I can take care of the problems! ( tenants, toilets and 2am phone calls), I never get 2am phone calls by the way. I let them know that I will rent the house, take care of problems and send them the money. When the trust is there it is as easy as that. Let me know if you have any other questions.
John
Don’t let a license get in the way. Disclose as you need to according to the laws in your state. I have done many deals that are outside of the norm.
When I speak to seller’s I let them know that I am a broker but I want to buy for investment. The biggest problem I have had is that being a broker disallows you from drafting documents. You can use the MLS to look for deals others have missed. Post questions when you have them, there are many good resources at the Depot.John
