All Forum Posts by: Alaina Korreck

Hey @Matt Merrill - the property is still doing well! There have been some unavoidable dips due to COVID but is still profitable. Feel free to reach out to me directly if you want any more info. 

Hey @Eric Niezgoda I would also be interested in attending, can you keep me posted on more info as well?!

Hey Matt- I have one rental in Metro Detroit (Berkley) and two up here in TC. The northern market can be very lucrative if you're open to getting into short term/vacation rentals. I highly recommend that route for max cash flow! @Matthew Hoef

@Dan O'Neill do we need to register for this?

Hey Jesse,

Definitely some benefits on both sides and a lot to consider depending on your investment plan overall. Where are you purchasing in TC? Have you been following the discussion on STR changes in commercial zones here in town? It might be something to consider depending on where you're at in the purchase process, it's changing the dynamics for a lot of investors. I own one condo at 8th and Cass as well as other investment properties in town so feel free to reach out if you want to talk further about the short term rental / vacation rental market here in Traverse City.

AK 

Hey @Victor Wasson congrats on getting your first deal going! I’m also an investor from Traverse City. A great market if you can be strategic about it and I’m also hoping to get some properties in GR in the next few years. Nice to meet you! 

Hi Matt! I'm a realtor and investor also based in Traverse City and I'd be happy to chat with you sometime about the area and strategies I have found work well here. Let me know if you'd like to connect!

AK 

@Nick K.


Hey Nick- most lenders won't do a HELOC on a rental but will do a cash out refi at 80% LTV. You can reach out to Helen Caverson at Caliber Home Loans here in TC, she could run some preliminary numbers for you. You can google her for her contact info, I can't post it on this reply. Good luck!

Hey @Cara Kennedy- short term property managers typically take a bigger bite of gross rents than your long term managers but there are a lot of companies up here that only do short term/vacation rental. Rates usually hover in around 30-40% of gross rents (crazy I know). When I sell a property I also offer my management to clients at a lower rate but I've been doing this a long time and can more easily cover time and expenses than some of the companies holding overhead. Properties managed at higher rates can still turn a nice profit but because there's so much fluctuation with vacation rentals and seasonality you want to make sure your manager is adjusting prices weekly, if not daily to match market and demand. It requires near-constant attention.