All Forum Posts by: Bob Willis

Nervousness after someone accepts your offer is natural. Questions like, "am I making the right decision" are part of the process. Your agent should guide you on the next steps to take and should facilitate much of this for you. The inspection should expose any deal breakers. Good luck.

What's the plan moving forward? How will the property be managed, exit strategy, etc.. Is it making money?

Hey - yeah I am curious about an update too. Has there been any large CapEx - how old is the place?

I list on Zillow, there are others, but I have had luck with Zillow.

I have owned STR for more than 6 years. No one will care if it is a Queen vs King sized mattress. You won't get more rentals, a higher rate, or better reviews. As long as the bed is comfortable and clean a Queen is fine. Good luck.

Can you split the difference, put a little more down and get a shorter term ARM?

I think market saturation is the culprit here more than the economy. Just the reality from my point of view in Phoenix. I've had STR here for six years. Three years ago when I bought my last STR in Phoenix my house was the only STR in the entire subdivision, now there are more than 10 (this is in a very small area). The current market is very flat. My rates are down about 50%/night right now. This is to keep occupancy at a modest rate. I will know more after the first of the year when the STR market really heats up in this part of the world. My expectation is next summer will find some very good deals for investors in the valley. I think a lot of people who bought STR in the past year or two here are going to bail. Just not enough meat on the bone with the current saturation... Then again, this is just my perception of the market here.

 If you do this, are the loan costs cheaper than getting a mortgage up front, thus cheaper access to cash if you wait the six months?

 thanks!

Hey All,

I am thinking about moving out of the direct management of my rental units and moving into other real estate options. I am looking at a few things but recently have looked at Private Lending vs buying into syndication deals.

With Private Lending I believe the returns would be better, but the effort would be more (finding the deals, managing the deals, etc). With syndication the returns would more likely be less, but the effort would be much more passive.

Any private lenders or syndication investors care to share their experience. Have you done both, which you prefer, etc...

Thanks,
Bob