All Forum Posts by: Doug H.

What are the potential AZ STR restrictions you mention?

So, this is a lesson learned. This whole legislation thing has been in play for a year. When someone who is new is looking to get into the STR market, the first thing they should do is evaluate the legislative environment.

No application, or application process, exists as of yet. Only when the California coastal commission signs off on the new code in policy, will the city of San Diego hire people and create the applications for the licensing process.

Until then, just get a ToT certificate,

Both AirBNB and VRBO collect appropriate taxes and remit to the city. 

The question is whether or not, you want to sink money into setting these things up as vacation rentals, when you may not be able to get a permit for them a year from now to degrade them back to long-term rentals.

As of right now, there is no procedure. San Diego passed the ordinance last fall, but until the California coastal commission ratifies it, San Diego isn’t moving forward with staffing or implementation. The California coastal commission has the ability to just veto this and make it go away, And they have done so in the past. So the city isn’t going to waste time and energy until the coastal commission gives it the nod.

1000% agree. Look outside of California.

I would look at your market.  

If the market has reasonably high appreciation (San Diego, Phx, etc.), a 16% CoC is a solid. More importantly, you will probably cash out refi in five years, so the overall loan terms are less important than the monthly payment.

If the market is low appreciation. (Indiana), I would seek the 30 yr and lock in. 

Either way, you are really looking for the lowest monthly payment to return the highest cash flow. 

IMHO

I think it’s in “coming soon” phase.  

Check out Hospitable. 

@Justin Lopez

Generally one gets started by listening to some Tik Tok influencer who doesn’t fully explain why arbitrage is both a potential nightmare and not really a strategy for building wealth…..

Nicole Zopolos & Carissa Vivirrito