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All Forum Posts by: Cole Simpson

Cole Simpson has started 71 posts and replied 291 times.

Post: Possible tenant issue with STR property management

Cole SimpsonPosted
  • Rental Property Investor
  • Columbia, SC
  • Posts 302
  • Votes 186

I wouldn't let them stay, thats about as red as a flag can be

Post: Air BB best practices

Cole SimpsonPosted
  • Rental Property Investor
  • Columbia, SC
  • Posts 302
  • Votes 186

100% agree with @John Underwood

I recommend Schlage, not necessary but definitely nice

Post: Seeking advice: Rental property as a temporary primary

Cole SimpsonPosted
  • Rental Property Investor
  • Columbia, SC
  • Posts 302
  • Votes 186

You need to decide what amount of risk you are comfortable with, but if your goal is scaling, buying cash is almost never the right answer.

Post: Securing STR's through Rental Arbitrage

Cole SimpsonPosted
  • Rental Property Investor
  • Columbia, SC
  • Posts 302
  • Votes 186

Rental arbitrage is great but just remember its a job. It is like flipping houses, awesome way to create a good income, but you will need to use that income to create wealth.

Post: Build/Buy Vacation Rental in OBX (Corolla)

Cole SimpsonPosted
  • Rental Property Investor
  • Columbia, SC
  • Posts 302
  • Votes 186

@Jake DurellHonestly thats why I avoid the beach. Expensive and don't love the longterm outlook.

Post: STR Bookings Slow & Daily Rates Low?

Cole SimpsonPosted
  • Rental Property Investor
  • Columbia, SC
  • Posts 302
  • Votes 186

We have been slow, dropped prices which has helped. Not sure if Gas prices is a part of it. One of the beautiful things about Airbnb is the roller coaster haha

Post: Whats a decent COC return in 2022?

Cole SimpsonPosted
  • Rental Property Investor
  • Columbia, SC
  • Posts 302
  • Votes 186

I personally won't do a deal thats less than 20% unless I love the market

Post: Should I invest in Tampa, FL??

Cole SimpsonPosted
  • Rental Property Investor
  • Columbia, SC
  • Posts 302
  • Votes 186

@Will Cruz What's the goal, cash on cash? Appreciation? If the numbers hit your goals I would do it. Best of luck!



Post: Exploring Options for Vacation Rental Properties in Northern MI

Cole SimpsonPosted
  • Rental Property Investor
  • Columbia, SC
  • Posts 302
  • Votes 186

@Jim Skoczen Welcome to BP! You can also find and connect here https://www.biggerpockets.com/... with other BP members that are in those areas. Best of luck!

Post: Looking for Asheville References - Septics, land clearing, etc.

Cole SimpsonPosted
  • Rental Property Investor
  • Columbia, SC
  • Posts 302
  • Votes 186

They have come down for me on price after quote before, but maybe they don't normally?