All Forum Posts by: David VanWert

We're in the same boat with a STR in Mammoth Lakes, rumors at June 1st but we will see. Unfortunately not much else you can do, can try for essential workers but sure the pool is pretty small. Fingers crossed we move into "Phase 3" by June 1st, hang in there!

@Craig Lillard love it! Welcome to this journey, I have somewhat of a similar long-term strategy to acquire properties and also visit them through the year for upkeep and vacation as well. I would recommend defining your goals, is it your goal to make money with these properties first, or locations you would like to like to visit and hopefully breakeven or only lose a bit? Location and time of year that you visit can make all the difference on which scenario you end up in. 

With our goals we are selecting locations based on year round occupancy and profit first, our wanting to visit there second. 

Aside from that this group and forum are a wealth of information, use this as a resource educate yourself as much as possible in the expenses, pro, cons etc.. and everything else that goes into investing in any particular niche. 

Enjoy the ride!

@Avery Carl thanks, is what it is, thankfully have reserves to hopefully weather the storm.  Going to come up and see you once this all blows over, hopefully summer time smokies are going to be location #2!

@Avery Carl we are drive to and unfortunately we are dead in the water.  Str outlawed until at least June 1st.  Anyone renting can face fines, possible jail time and loss of tax certificate for up to one year.  Heard they even have checkpoints before you get into town to prove you are a full time resident or essential business.  Crazy....

We were getting ready to purchase a second str in a vacation area before all this hit.  We are going to see what happens over these next few months as well. Spoke with my lender last week and the guidelines for investment properties have changed dramatically by what they were telling me.  Gonna be waiting cash in hand to hopefully scoop up a good opportunity 

@Shelby Pracht Thanks for the update, hopefully you get feedback on those applications soon! 

@Shelby Pracht wondering if you ever heard back on your SBA loan? I applied about a week after you did and haven't heard a word. I got an email about the 10K advance about a day after I applied and filled that out right away but haven't heard on that either. Any good news on your end. With Mammoth being shut down now until at least May 31st, things are going to start to get tight. 

Our place is in Mammoth lakes Ca and in addition to notices we received from the town itself we actually received the same notice from AirBnB directly with the same notice so they are complying with it. We actually had a guest try and come in today that booked last minute, they checked in and within 5 minutes management was having them leave or they were going to call the county. Come to find out a full-time owner in our complex has the virus. Crazy times... will buckle down, tap into the reserves.

Who know maybe we'll start seeing a flood of good opportunities for new properties in the next 60-90 days from those that don't have the reserves to keep things afloat. 

Watched the livestream with the CEO also sounds like superhosts were going to receive 5K as well directly from AirBnb. There were no real details but sounds like a bit of help. Something is better than nothing! 

@Robert S. checked into that a bit. Looks like that only applies to physical damage to your property such as fire.