All Forum Posts by: Blaise Peterson

A lot of new investors seem interested in STRs because there is potential to make good money. Keep in mind that there are two roles you play as a STR owner: that of a RE investor and that of a business owner. Most new investors are inexperienced in both.

Inexperienced investors should minimize the number of things that can go wrong. This is especially true if the property is leveraged. A new investor should either buy a turnkey STR and learn to run the business or buy a property in need of a modest rehab and learn to be a landlord.

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Quote from @Cory St. Esprit:

Quote from @Spencer Speckles:

It may be worth continuing your relationship with the police and city council. This sounds like a nuisance property so they will likely put some pressure on the owner. It’s either that or to live with it.

A side note: it might be that the owner is a slumlord, not because he/she is an evil person, but is simply a good intentioned person who doesn’t know what he’s doing.

I talked to someone who knows the owner...it's the latter. It's a set of brothers who have struggled to find their way in life. Their father is a very well-paid orthodontist. He basically helped get his sons into real estate and arborist services because they didn't have a clear direction.

That's an ideal scenario. Develop a friendly relationship with the owners and you guys can all work together to figure out the best way to handle it.

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Pittsburgh, Pennsylvania

All Forum Posts by: Blaise Peterson

Blaise Peterson has started 2 posts and replied 22 times.

Post: Looking for an experts opinion!

Post: Interest in a neighboring home