All Forum Posts by: Alex Silang

I'm assuming you would need multiple bids on your business in order to get your biz?

Are pretty much all DSCR lenders negotiable? They're not like big conventional banks after all (correct me if I'm mistaken).

I found one that does a soft pull so I'm thinking there's nothing to lose. 

For those with LLCs, did you register it in the STR state or home state?

Oh I meant that "this is the reality of owning a STR" post and was hoping people could challenge my initial points and maybe add one or two. Because owning for a few years wouldn't make much sense.

So I've heard this can run you a lot - around $30,000 for the average sized home of $400,000 in the area I'm looking at. So that means if my downpayment is $80,000, $30,000 is really going to affect things:

1) Capital raised. I need I need 37.5% more capital

2) If I need to sell in a few years, this capital will largely go *poof*. A new buyer is probably not going to pay the full value of those renovations. Ideally I'd be able to find a buyer that wants to do STR but that's not guaranteed by any means.

3) Cashflow will probably be only $1,000/mo. So back of the napkin, that's almost 3 years of waiting to get the money back. 

I understand that this is just a part of STR investing. Anything else I missed?

Reading the old posts on this STR subreddit for a bit, I see it's not uncommon for people to want this parameter for their STR property.

This is a difficult thing to do in today's market. 

What would trigger this though? New airbnb regulations obviously, but anything else? 

At the loan company I plan on using, STRs have a higher interest rate because they are considered riskier.

Just curious, with your STR properties is this the case?

After all, LTR typically have a lower MRR and will need to deal with evictions probably more often.

I see some people mentioning this. Of course, if your STR is by a lake or some other highly touristy location I don't think it would work as a LTR

Like would it be smart to work off this list? Thanks

https://app.airdna.co/data/us?lat=40.435090&lng=-96.0000...

So I really like STRs and thinking about how much to put into it. 

Hopefully nothing like COVID happens again but it could. Regular properties are probably in a better position because people always need a place to stay, and if I'm not mistaken back during COVID if you had a tenant who couldn't work you could call your bank and pause the mortgage. 

Like it'd be awful to build up a nice base of STRs and then something like that happens and everything is empty. 

Thanks! I'm a bit overwhelmed by all the options. Is there a article/post/site that lists all the areas you can invest in? 

Like what's the best way to approach this?