Brandon Turner - Invidious

Shady landlords do shady things

Before you close on an occupied property, verify the terms of their lease by getting estoppel agreements from the tenants.

The Estoppel Agreement should contain:

• all tenants' names
• lease term (including start date)
• rental amount due and the due date
• security deposit amount
• who pays utilities
• who owns the appliances
• pets or no pets allowed
• existing problems or repairs that are needed
• any other agreements from the past landlord

1 week ago | [YT] | 23

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Brandon Turner

You have 12 months to go from $0 to $5,000 in rental cash flow.

You have $20,000 to start with.

What would you do?

(My answer in this thread.)

I'm going to get a lot of hate for this, but here we go...

1.) I would spend the first month learning everything I could about rental property investing.

I'd read, listen to podcasts, maybe even pay for some kind of course.

2.) For the fastest cash flow (though definitely not the most passive or long-term), I'd pick the "Vacation Rental Niche."

Or maybe even co-living? But for now, let's talk STR.

3.) I'd find a partner who has lots of cash, and I'd work a deal with them: I would run the whole operation, they'd cover down payments, we'd split the profits.

And I'd refinance as soon as we could to get them their cash back.

4.) I'd search the whole USA and find a unique Vacation Rental Market that

a.) the airbnb laws have been decided and

b.) the numbers make sense

5.) I'd use my $20k completely on marketing to find off-market properties that could be vacation rentals.

I'd spent 50% of that marketing on direct mail letters, 30% on cold calling, and 20% on web marketing.

6.) Once I landed a great deal, I'd use the partner's $$ as a down payment and I'd manage the rehab, the furniture, and getting the business up and running.

7.) Within 12 months, I could find 6 properties that cash flow $2,000 per month each ($12k total).

I would hire a virtual assistant to manage them for $2,000 per month. After splitting with my partner, I'd have $5k per month.

8.) Bonus, I'd continue to scale once I hit that $5k per month, but I'd diversify as soon as possible into some multifamily, some mobile home parks, and some self storage.

Was this helpful? If so, follow me... PLEEEEAAASSSEEEE 😂

1 week ago | [YT] | 37

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Brandon Turner

NEW VIDEO!

1 week ago | [YT] | 4

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Brandon Turner

What’s a book that completely changed how you think about money or business?

Only rule: No Rich Dad, Poor Dad 😉 (we already know it’s one of the greats)

2 weeks ago | [YT] | 11

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Brandon Turner

"You don't randomly chance into the life that you want. You have to actually structure it."
- Sahil Bloom on the recent episode of The BetterLife Podcast

Check out the full interview here:

2 weeks ago | [YT] | 4

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