Since my last post I’ve finished the rehab on the first property, added 2 new rentals to our portfolio, and also done a wholesale deal. We are currently under negotiations for several exciting deals. I’m also looking at learning how to operate Airbnb and exploding my business through short term rentals.
The Milwaukee market has been pretty hot and getting hotter, so finding deals has definitely been where I spend most of my time. There are always people with challenges in real estate, and there are always people who are destroying their houses, which gives me the opportunity to solve these challenges and fix the properties. Once I start the Airbnb strategy I won’t be looking so hard for properties as I’ll actually be able to make money by renting out other people’s properties and then listing them on Airbnb myself and making the spread. This is a strategy to not only make money in real estate, but also an acquisition strategy. I’ll have first right of refusal on the property when the owner some day wants to sell.
In other news, our local Real Estate Investing group has been growing and we changed locations in October. We’re thinking of changing locations again to give our mastermind groups more space to meet and more room for growth. The main challenge is we want to find a place to meet that will allow for the masterminds to meet and also give us the opportunity to do other events there, at an affordable price. We’re considering the possibilities of renting out our own space vs using a free space such as banks, libraries or restaurants.