All Forum Posts by: Sheri Fluellen

@Krista Burke, love the "BRRRR-nb"!! lol!! You shouldn't have any problem getting a STR refinanced. I am an investor & RE agent and am well versed in the processes. We've refinanced multiple properties. If its 4 units or less, than the property refinance is based on comps, your credit score, and your debt-to-income ratio. If those things are good, then you shouldn't have any problem refinancing (whether you do STR or anything else).

@James Timmins, I don’t have a minimum. But my traveling medical folks tend to stay for 2+ months

I have found that many of my furnished STR (mostly through AirBNBs) are rented by the medical community. They're great!

I’m an investor and realtor in Cheyenne WY.  Our area has had a strong and steady tenant base since I’ve been here, 2007. Rent continues to go up and our appreciation had been strong. Our real estate prices have increased as most of the nation. Multi units usually run an average of $100k-$125k per door right now. I have some short term furnished vacation rentals and they stay pretty rented. If you want to talk further, I’d be happy to. 

I live in a town and state that does nothing of the sort regarding inspections. That would significantly prove to be a barrier to some investment owners!!  We have only had inspections on our Section 8 housing apartments, and that is something we have elected to participate in.

I’ve used Craigslist ads, local Facebook groups that focus on finding renters, and calling property management companies to get a better understanding of current rental rates. However, I’ve found in my area, that many of the craigslist ads are priced under what is feasible in the rental market. So don’t sell yourself short!! 

@Francisco Torres, great suggestion.  We are in the process of doing that.  One of the things that frustrates me is that people make a lot of assumptions about what can't be done.  But I will get this figured out!!!  😁

All you investor-agent hybrids... how do you market your investment identity? I keep hearing that I can’t be public with my ownership of the investment business because it conflicts with being an agent and the rules around that. But I’m in a smaller market and have a tremendously good reputation in the community that I want to capitalize on. How can I do investing in a public way that remains separate from a brokerage and unregulated by the license laws??

@Nathan Gesner, those are super low rents compared to Cheyenne area!

Welcome!! James let you know that there are a group of us investors that meet! There are a couple groups. I am the Director of the Cheyenne REIA. I'd love to see you tomorrow night at our next meeting!