All Forum Posts by: Aaron Barber

Looking at possibly buying a STR. Who do you use for PM of a short term rental? Is it just a regular property manager? I dont want to manage it myself, seems like a crazy hassle. But also would like to know how much more people are charging to manage STR's since it is definitely more work.

Thanks

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You don't have to refi out to rent out your VA home. I have 2 as rentals right now. There are 2 downsides or possible ones. The funding fee is an added expense. But if you have a disability rating from the VA, even 10% that fee is waived. Also, they don't always have the best interest rates. I have used several conventional loans because the VA rate was much higher.

1 Vote

Same thing I see here in Las cruces NM. I have never paid list price for a home... But I had to for this one. #'s still work. I had bid on 3 other houses before this one and 2 of the 3 sold for more than list price and both were under contract in 3 days or less! Covid limited supply even more and demand is still high. A good time to be a realtor...

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You might want to put what locations you are willing to work in.

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"the law requires a veteran obtaining a VA-guaranteed loan to certify that he or she intends to personally occupy the property as his or her home." I dont think there is a minimum. I always used a year to be safe but the least amount of time I spent in a VA loan house was 2 years. I still rent it out. No problem

1 Vote

Originally posted by @Bill B.:

I sold my primary 8 months ago “at the top of the market” (2400sf single story gate community, pool, etc) for $440k.(The highest price to that date.) Neighbor sold two days ago, identical layout for $539k. I Thought I was being smart taking $200k tax free in 5 years. Craig and Decatur area. I don’t know if you want to say that house was worth $600k a month ago before pandemic and it fell 10% or if its having almost no effect on “cheap” houses under a million.

Either way 20% plus appreciation in 8 months is big during the pandemic.

I wish I lived in a world where houses under 1 M were considered cheap...

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A little early to ask IMO. Lots of people don't pay by now, even under normal circumstances.

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My wife makes me get out of bed :P

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That sux. I always buy appliances from places like home depot, lowes etc.. They usually install and haul away for free

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Originally posted by @Seher Taskent:

@Aaron Barber I guess it’s much more simple than I’m making it out to be. Well, not necessarily simple because there’s obviously a lot of analysis and math that needs to be done before a decision is made, but it seems like it is just as simple as finding a great deal and then working with those given numbers to see what the outcome will look like. My OCD and strive for perfection takes over sometimes and I know I will become super nervous about the first couple of investments because I wont know where to look or what to look for. Hoping the confidence will come over time. Thank you!!

I mean at least you are doing your due diligence. That is WAY better than just rushing in and making a purchase not knowing anything. Just don't let paralysis by analysis take over.

Analysis paralysis (or paralysis by analysis) describes when overanalyzing or overthinking a situation can cause forward motion or decision-making to become "paralyzed", meaning that no solution or course of action is decided upon.

Good luck!

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All Forum Posts by: Aaron Barber

Aaron Barber has started 4 posts and replied 62 times.

Post: Who do you use for PM of a short term rental?

Post: VA loan or not? Pros and cons?

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Post: How long does a VA Loan require you live in the residence?

Post: Corona Virus Impact to Las Vegas Market

Post: May 1 and rents are in! What is your experience?

Post: What makes you get out of bed in the morning?

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Post: How do you know a location is perfect for positive cash flow?