All Forum Posts by: Bien Nguyen

 Hi John,
Just curious as to why you would skip doing any condos? My husband and I have debated about this as there seems to be pros and cons. The biggest con thus far is condos have HOA fees that you can't control. But the idea of a smaller unit to renovate/furnish and manage is kind of appealing.

 Wow!  Thanks for the information.   That is a concern and we are trying to run numbers as mid-term rentals as well as appreciation if we have to sell.   

 Thank you!  Some of the cabins in the N. GA area seem better on CAC returns but are 5 hrs away.  Thanks for the feedback, Michael!

 Thank you.   That is my husband's concern but the numbers don't work close to us.  Sellers market, everything is going quickly and higher than list price, on cash on cash numbers have us in the negative close to us.  We are not in a hurry so just being focused and being patient and focusing on the numbers.

Hi! Your first STR was 10K miles? Awesome! How did you go about self managing it? Cleaners have been my current biggest challenge. I was trying to find an independent person and I keep getting cleaning companies.

My husband and I are new to Bigger Pockets and have been wanting to own an STR and Bed and Breakfast in the future. We have goals of obtaining and running 3 STR's within 5 years or less as we both work full time, and I do real estate in addition to my full time job. We have a goal of buying a STR by the end of the year if everything goals well.

We have been looking at different properties such as cabins and homes in North Georgia that area close to wineries, outdoor activities, and state parks; as well as beach condos in South Carolina and Florida.

However, we are struggling with whether our first STR should be close even if the numbers are not as strong.  My husband is concerned about the distance and he is particular about maintenance work/ renovations and wants to be close where he can drive to check on the property.  I, on the other hand, am more about the cash on cash return and believe we need to focus on a good market as long as it is within the state of Georgia (we live in Savannah area) or within a 2 hour drive if out of state (like South Carolina or Florida).  

How did others start and did you buy a property that was close as your first STR?  Thanks in advance for your feedback!

 Hi!  New to the group and just saw your post.  I noticed the post was from several months ago.  I live just outside of the Savannah area and a local realtor licensed in Georgia and South Carolina.  Is there a specific type of investing you are trying to target (i.e. short term rental, mid-term rental, commercial, etc)?

 Hi Michelle,

Tybee and Thunderbolt have regulations in addition to the city limits of Savannah. Although areas outside of those cities don't have direct regulations, many fall under Chatham County which does have some regulations (although not strict). Chatham County requires that the property be in an area that either has no HOA, or the HOA of the property allows short term rentals. You also have to be mindful that some HOA's have created amendments/addendums to not allow STR so it is important to double check for the CCR's and related amendments.

I am a local realtor in Savannah but looking in other areas for my STR as I hope to tap into the vacation home loan and need to look further away.

I hope that information helps!