All Forum Posts by: Brandon Pace

@Eliott Elias in addition to what @Suzanne Johnston I understand that specifically TTU football games, TTU graduation ceremonies, etc. draw guests.

@Michael Mendez

I have not yet explored specific resources for self managing but have reached out to a few managers for feedback. I will let you know if I jump in.

I am considering converting one to three long-term rental properties to short term rentals in Lubbock. I am long-distance away and need to put together a team of cleaners, maintenance personnel, handyman, etc. I would appreciate any input you STR folks are willing to share about feasibility and connecting me with key folks looking to help with STRs in Lubbock.

I am opening my first business account to receive revenue and pay expenses for my 7 rental properties. I would like to use this opportunity to build business credit. Do any of you have any tips to get this set up to build business credit? Do you have a recommendation for a business credit card?

I am building two townhomes in Hurricane at Zion Village Resort. I have a 5 bedroom and 6 bedroom. 

@Joshua Snell. The only one I have in operation is a two bedroom condo put in service in July 2021. So far I am cash flowing. It is difficult to proclaim financially with such a short season. The other two are not in service yet, still in construction phase.

Yes. The properties I have allow self management if I choose. At some point, later in my journey I may choose to self manage. Right now, I have a very demanding job and a big family to care for so I have chosen to hire managers.

@Ryan Moyer Many of the properties do require certain property managers or a selection of property managers to use AND most of them that require that do absorb 30% fee from Revenue. The properties I have acquired allow you to chose property management. It is a very important factor when selecting a property. And the pricing of the properties has doubled since I went under contract. I am in a holding pattern while two properties I went under contract in 2020 are still being built. Crazy market.

I have 3 vacation rentals in southern Utah. It is a great vacation spot.

Diversification is important. I do not think there is a right or a wrong answer. Both directions have advantages. Your decision depends on your short term and long term goals with your next step. If you are looking to maximize cash flow as a strategy to use to build up your portfolio, STR is a great way to go. If your strategy is to make a long term investment to shore up your steady cash flow and potentially sale a long term multi that increases in value to due rent performance, go with multi. In the end, I feel that it is good to go with the one that fascinates you or interests you the most. For me personally, I am giddy about vacation rentals. Good luck!