All Forum Posts by: Lynn Burson

@Patrick McGowen

We decided not to buy the hanger due to being over priced & the lease with county/municipal land coming up for renewal very soon.  We came close with a second hanger that had nice living quarters for office / condo like rooms.  As Jay stated its an interesting rental space with money to be made... we decided to buy more land for development with VRs.

I would definitely listen to @Jay Hinrichs he is a wealth of knowledge with most BP subject matter.   Jay was spot on with his quick summary.

The 3 bedroom sells better.

I do not have any low end rentals BUT I would think that just comes with the territory? 

Dunno, try & not take personal & learn from the experience / process.

I think a scratch / dent for new appliance would be ideal for duplex investing.  Used appliances are just so unpredictable & without warranty...

I have found repairing them can be as expensive as buying new. 

I agree with Bill G.  It depends on the unit, rent, clientele,... We have bought higher end appliances for vacation rentals at a discount.  It is an 8 burner Viking Range that was the floor model at an Ferguson showroom.

The people love it because it is something they do not have in their own house (trying to create an experience for clientele). It was bought discounted, we depreciate it & people write great reviews. However I would never place this appliance in a 100K SFR.

Karen,

I own 4 VR's (3 with a Partner/Builder) in the Destin FL area.

VRBO/HA/FK platforms give a good indication via the calender. Some are up to date & others are left open for various reasons...

The number of weeks rented is approx 26 with a few weekends.  These are large houses that can accommodate 30 plus so vacancy will differ vs a condo.  Peak season is very important as it pays the bulk of the bills.

The off weeks are left open for last minute getaways, personal use,...

The VR houses are managed by my partner who has approx 8 other houses with other investors.

My overall experience has been quite good...but as with everything, it depends :0)

The location is great for VR's!  It is coastal with a  with great beaches, infrastructure, shopping, family activities...

Yes, I plan to keep buying, building, developing with my partner more VR's.  It has been a profitable & overall good experience.

Lynn

Some commercial RE guys that are principals at mid size firms.

They are not in residential but development, tenant representation... to their own projects.

However...it is cyclical like everything else.

I was always curious / interested in RE for approx 15 plus years? There was a romantic or savy flair to it...at least to me, LOL.

After making a serious decision & dedicating myself to education, time, effort...it was a 12 month process.

It would have taken less time but this was secondary to dealing with short sales & REO properties in another state.
It varied pending the lending institution.

If you want to debate this topic with your friend ...enjoy. This is a topic rife with cognitive biases (ie-confirmation bias) as well as cognitive dissonance.

I use both REI & equities but having close to 30 years (esp with stocks) & anyone that can beat the indices over the long time with some of the numbers being mentioned...will not be taking the time to post on this message board.

You will be the next John Paulson, Ray Dalio, Bill Ackman, et al in the hedge fund world. Maybe I am wrong but...

What I think is very important to consider are the returns after adjusting for for both TAX & INFLATION. If you can beat this moving targets over a 10 plus time period then things are very good.

I always liked the funny vernacular via traders, analysts... like the dead cat bounce...

Approx 4 months ago did a commercial loan at 5%.  This was a portfolio for new construction, 25 year term & amount of 1.3 mil.  The bank is a smaller regional who we have experience with.

I would shop around.