All Forum Posts by: Anita Parsa

@John I haven't invested in STR in Branson, but I've invested from Branson up to Springfield since 2015. More of a buy/hold guy personally, but I know (2) really solid real estate agents that might be able to help take some of this off your hands. I know you mentioned an agent, and you may be tied down, but I'd be happy to introduce you if that may help. I'm sure they, or my property manager, could introduce you to a local STR investor!

Focus on the property and what it can do for you as opposed to what the seller's deal is. There are an unlimited amount of reasons that someone would need to sell. Could need money, could be getting divorced, could hate being a landlord, could have inherited the house, could be moving etc...None of that really matters. It's either a good deal or it isn't. Focus on that.

Doesn’t matter why. All that matters is can you hit your metrics. 

Sometimes if its too good to be true it is not. You need to verify and be even more cautious when conducting due diligence. Some cases it is a good deal from a seller who wants to do a 1031 exchange or even needs cash quick for an emergency. 

@Anita Parsa I’ve only been able to confirm the reason the seller was selling a few times, and usually after the sale. It’s not something I think about too much unless it’s obvious somebody is unloading a turd. Shoot, even then if the price is right I’ll polish that turd right up good as new, sometimes those are the best deals. If you look into the ethics rules agents are supposed to follow “Why are they selling?” isn’t even a question the selling agent is supposed to answer. What are they going to say, “This property is a real money pit and the tenants are insane”. Probably not, it will be more along the lines of “the owner is looking to liquidate some capital to invest in a larger building” so shifting funds to vacation rentals checks out. As others have said focus on the property and how it fits your investment goals. Run your own numbers and verify them with inspections and 3rd party professional opinions. Buyers are liars and sellers are worse! Run your numbers as well as you can, do as much due diligence as you can, and buy based on that.

@Anita Parsa There is a such thing as not being ready to buy a good deal. I know this sounds strange, but it sounds like in order to be confident enough to land a deal like this you need to learn the business a little more. All of your research should lead to the point where when a deal that checks the boxes for you comes across your desk you trust your research and knowledge base enough to pounce on said deal. 

People sell properties for all different reasons and if the property is what you are looking for which you mentioned it is, I never understood why the sellers motivation factors into a buyers decision making process. You are going to presumably have an inspection so if there is anything you are missing property condition wise it will be uncovered then. Pull the trigger!

 In my experience I try not to overthink why they are selling. 

He is probably going to make more money in his other endevour. What does your RE agent say about the pro forma?  Do you knowyour local cap rates and if so how does this compare?