All Forum Posts by: Avery Carl

STR, like any real estate, is local/regional and not national. Some markets may be saturated with STRs while there is still plenty of room to grow with others. It all depends on the market.

Totally agree. Arbitrage is creating a job for yourself, owning the investment is creating WEALTH for yourself. It can be a great way to build some capital so that you can start investing yourself.

This called rental arbitrage. There are a number of threads on it on the forums. Do a quick search and see what you find. It's not a strategy that I use, but there are others who do.

If you're trying not to get a permit because you don't want to get caught by the city or county I would advise not doing that.

I don't do a backup generator. I don't even trust myself to operate that properly. So I certainly don't trust 50 random strangers a year to operate it properly.

I own 3 beach houses between Destin, 30a, and Cape San Blas on the Forgotten Coast FL. They all perform comparably, but the only one that will be right around the million mark for single family is Cape San Blas.

A correction will happen. Prices will likely level out. They won't drop to 2018 prices.

I am not a licensed loan officer but here is my opinion:

You can get a second home loan and still short term rent it, but you do have to truly intend to use it as a second home. Right now, there is nothing in the guidelines saying that you can't rent it out when you aren't using it. But I would definitely make sure that you are using it and only renting it out when you aren't using it if you go 2nd home route. If you don't plan to use it at all and just use it as an investment, then there are 15% down investment options that you can go with to avoid potential mortgage fraud.

It's always best practice to play by the rules.

Quote from @Colleen Peterson:

Many lenders offer the 10% down 2nd home mortgage, it's not unique to The Mortgage Shop. There are several lenders in Bend that have offer that type of loan.

We were referencing 15% down DSCR, not conventional 2nd home.

almost all the new constructions now have lighter stains