All Forum Posts by: Alvin Kwan

I feel like you're a few years too late. I had a couple STRs in the Cochella Valley and it did great because I bought before Post Pandemic pricing and locked in low interest rates. So I can easily get through low seasons (summer). Completely booked out during the high season and my places are not that unique, main attraction is the pool / spa. Will be honest, managing yourself from OC is not fun. I did that. You'll regret it in 6 months.  

I do have experience in Bermuda Dunes. It's small, not a lot of choices. There is one particular community that thrives in STR. One watch out, don't buy anything in BDCC, no STRs allowed. As a previous poster mentioned, it's right next to Palm Desert and La Quinta. Indio, even though it has improved, the STRs that I've tracked don't do as well.

Quote from @Anna D.:

@Idoko Salifu hi. I was wondering if you moved forward on investing with FNRP? If so, do you mind giving me insight on your experience with them?

 were you thinking about investing with FNRP? If so, did you ever move forward? I'm planning on moving forward with their latest deal, would be great to hear your experience. 

I wonder if this is tied to the AirBnBust that has social media on fire. Seen a few youtube videos on this as well.

Quote from @Hetal Patel:

So they did not hit any of their targets last year for any of the properties I invested. Overall I invested in 3 different properties and my distributions from last year were less than 2%. Some closed in 1st and 2nd quarter last year, but they were targeting 8-10% distributions which did not happen. Hoping FNRP K-1s will help me offset other personal investments so I might be able to benefit on paying less taxes. Otherwise, I wouldn't recommend investing in FNRP. 

 Thanks for the info. Their latest deal target is only 5-6% distributions. So perhaps they learned from past deals to be more conservative? Curious to know if the 3 properties were value add, and what were the vacancies at the time of the syndication?

Quote from @Easton Hill:

I'm looking to connect with anyone who has purchased hotels, motels, Lodges, Inns, RV Parks, and other hospitality assets!

I currently run a 10-unit Airbnb Arbitrage portfolio in Phoenix, which is similar to running a small motel and I'm considering doing some hospitality acquisitions in 2023

I know BP is largely focused on residential real estate strategies, but I'm looking to learn more about hospitality real estate! 

Please tag anyone that works in that space! 

Curious what you're seeing in hospitality as far as potential. I use to own a few STRs in the Palm Springs area. Its been over supplied, and since the housing prices have skyrocketed, I'm cashing out with a 1031. There is a hotel opportunity out in Nashville that I might jump into, however, I'm worried tourism may slow in the coming years.

I’m also interested in knowing how your experience is with FNRP (First National Reality Partners). I’m about to pull the trigger and invest with them but each time I dig a little more during my due diligence I always have more questions and it seems to take a few days before they’re answered.