All Forum Posts by: Avery Carl

Gross annual income is more important than occupancy rate. Look at that first.

Just bring your questions! The fact that you're even asking how to best prepare tells me you're going to do great in the STR space.

REGULATIONS, REGULATIONS, REGULATIONS. Call the city and county codes or zoning departments (can be called different names in different areas) and check the regulations

I try to look at as many rental data points as possible including: Airdna, the PriceLabs market dashboard function, Rabbu, and KeyData. I DO NOT look at previous rental history. It means nothing. It's what one random manager has been able to do with one random property. Market wide data is a better picture.

I personally don't target places with a lot of business travel but there are plenty of successful investors who focus exclusively on medium term rentals (30-90 days) for corporate rentals and traveling medical professionals.

I'd suggest the new Shenandoah National Park area in Virginia

Managing remotely will be similar across all markets, just make sure you choose one with favorable and stable STR regulations!

With it being a really tight seller's market right now, sellers have been conditioned to become pretty darn greedy. Cash used to be king but those higher dollar offers that are financed are getting looked at and accepted a lot more often now because properties are so easy to re-sell if they fall out of contract. That being said, when properties get bid up far above asking price, many don't meet appraisal. So many financed offers are also including appraisal gap clauses to make them more attractive.

That honestly depends on your personality type! I am not going to send engineers and graphic designers to the same agent on our team. Different personality types need different things communication wise. Sign up for a consultation and I'll do that leg work for you!

Go ahead and get on our calendar! This is really sweet of you to be so self aware, but we will teach you everything you need to know. So go ahead and come aboard! Complimentary cocktails on the lido deck.

I would say it actually gets easier. Once you run out of conventional loans just switch to DSCR. And by the time you have 10 conventionals, if you've bought correctly, you'll have plenty of cash flow so that the down payments accumulate very quickly.

This made me LOL. I'd say in the markets we are in it's about the same across the board. There are going to be Karen guests and the occasional crazies here and there, but if you're not trying to cram 30 people into a 2 bedroom, you won't run into as much partying as those who try to get as many heads in beds as humanly possible.

This is a better question for my partner @Brenna Carles but I will answer what I can with the disclaimer that I am not a licensed loan officer, so this is just my opinion as an investor. The 10% down vacation home loan is a FANTASTIC product but you do want to make sure you are coloring inside the lines when using them and not bending the rules. Fannie/Freddie have caught onto that product being abused by STR investors in recent years and the last thing you want to do is commit mortgage fraud. While some lenders will let the separate husband/wife thing slide, I would not advise doing it as that's clearly doing it as an investment and not a second home.

I don't think I am well versed enough in the regulations to answer the one about co-signing when you already have a vacation home loan. I again would just stress to stay inside the lines.