All Forum Posts by: Brian Walters

Agreed with @Noam Ofan. Working to get into rentals in that area, and the northwest in general and am always looking to see what rent prices look like in different areas and property types.

Looking for suggestions on the best resources to learn more about getting into the STR market. I have been reading as much as I can on investing in general and have some high level knowledge about STR but curious if there's any books (BP publishing or otherwise) or anything else anyone recommends for learning more about renting through Air BnB or similar platforms? This would include what to look for in a property to help determine if it's a good candidate for the STR strategy as well as guidance for running the numbers.

Thank you

My wife and I are looking to start investing in our first property and have identified condos in our area as our best option.  Partly due to the cost, partly due to our having recently stayed in one through Air BnB.

As I'm evaluating properties I started thinking about the estimates I'm using for CapEx and maintenance. I had been using 10% of the gross income for each. But, being we are looking at condos, generally speaking, would a lower number make more sense for CapEx? Obviously there would be little/no expense for the outside of the building, no roofing, foundation, parking area, or real curb appeal expenses to worry about. I know CapEx doesn't only go to items on the outside but is anyone currently investing in these types of properties or have any general advice for this type of thing?

Wondering if my numbers are off because of this.  Of course, if anything I'm over saving, but wondering if this could lead to me passing on some units that may be worth another look.

Thank you

Recently stayed in an Air BnB in Las Vegas with my wife and 2 kids in a place that had 2 TVs, no cable on either, but we were more than fine with having access to the streaming services.  I would think more would appreciate faster internet than cable.  Having access to local channels would be a plus.

With what cable services are charging these days, and the online access to so many channels, cable becomes a nice to have, not a necessity.

I've been thinking the same for my first investment, after recently staying in our first air bnb. A lot of good info on this thread.

From everything I have read, if done right STR seems to produce better cash flow, but also comes with more risk of bigger gaps of vacancy.

Hope to keep learning more off this thread. Thank you all for the time and help.

@Bill B. are the rent increases you are seeing on pace with the purchase price increases?

@Andrew Daughtery I'm in the same boat.  In Vegas just getting started.  Good luck.

My wife and are I discussing options between STR and Air BnB.

Are you looking local or investing from a distance (since Vegas is also a vacation destination)?

Thank you all for the replies and advice.

@Basit Siddiqi, would this mean that if you are just starting out, set up a LLC and are looking for that first property this would not be deductible? Wouldn't it justify as an expense to help find that first property just as much as any property after that?

Can upgrading to a BP pro membership be considered a business expense being it grants access to tools to help find and analyze more properties?  

I would think it could be, just as any other tool purchased to make your business better but curious if anyone has done it?  Don't see how this is different than purchasing Microsoft Office or another program to help run number more efficiently. 

@Arturo Tomero great, thank you. Is there a mailing list or anything I can join?  Not on Instagram.