All Forum Posts by: Gerald Pitts

Another vote for the Poconos if these are the options. I recommend vacation rental markets where laws have already been established for vacay rentals / you don't have to worry about laws changing like you do in random small towns or metro markets. Sounds like you can maybe do a 2nd home loan which I recommend doing for 10% down.

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I second the Avery Carl book! Her Short Term Shop is a great one stop shop to jump in and learn. Realtors that invest in STRs themselves, webinars, facebook group, podcast.
Not a ton of other books I've loved. Daniel Rusteen is pretty good. Optimizing your Airbnb.

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Look at the 2nd home loan. 10% down. Have to self manage technically which you're planning on anyway. Lenders in that mkt should be familiar.

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Originally posted by @Shane H.:

@Jeff CChisum

Im not following this at all. Someone posted a link below and it clearly says single unit, no rentals. Ive never used fannie mae and my broker (multiple actually) says he cant get me anything under 20 % down because i own a home. Unless i move of course.

Sounds like it's time to shop a new lender. I recommend a lender that specializes in a vacation rental market. They are going to have done a lot of volume and understand this type of product.

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Originally posted by @Loriel Keaton:

We currently own a few STRs in Maggie Valley and do well year round. Happy to chat if you have more questions.

Hi Loriel, would you mind sharing bedroom count and annual gross?

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Let me know if you still need a ticket!

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Originally posted by @Troy Owen:

@Jeff Chisum

Are you able to use this product for a second home in the same market as your primary, or is there a certain distance away you have to be?

I believe the minimum distance is 60 miles.

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It shouldn't really affect your analysis. Pass through cost to the guest.

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I love STR for cash flow, but I would research the STR laws in Nashville. Very strict. I prefer vacation areas where STR is established and welcome.

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All Forum Posts by: Gerald Pitts

Gerald Pitts has started 11 posts and replied 460 times.

Post: What happens if regulations change in your market?

Post: Anyone know of a good Airbnb consultant?

Post: Books on Air BnB'ing to learn!

Post: Branson Market Questions

Post: Bad Information around 10% down

Post: Maggie Valley, NC Airbnb/Vaca Rentals

Post: Conference Ticket Needed

Post: Bad Information around 10% down

Post: Cleaning fees at STR's

Post: Nashville Newbie: STR vs. Flips vs. ???