All Forum Posts by: Gerald Pitts

It's not going to be as much work as you think it is. Take a little while and read over the short term rental forums here, and you'll see lots of tips about software, good cleaners, and handymen. You'll know better what to do after that.

Originally posted by @Becky Kaapuni:

originally i planned to self manage. maybe i should look into that again. i just worry about things going wrong and no one being around to do anything. it seems like my guests always have issues.

Originally posted by @Melissa Bovee:

I have not been impressed when I've stayed at properties managed by vacasa or turnkey, which in my mind are the same as evolve (although I could be wrong on that). Have you ever considered self managing? Most people in this forum seem to do it. Basically, as long as you have a housekeeper and a handy man that can handle your turnovers and maintenance requirements, you can easily manage remotely. I manage my STR from across the country the same way I did when I was in driving distance. Maybe give it a try. If you hate it, you at least know what the job entails and can better question and interview potential companies to take it on.
Best of luck! Melissa

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Another vote for streaming. No complaints.

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Listen to BiggerPockets Podcast 229: Early Retirement Through Short-Term Rental Properties with Zeona McIntyre.

I would definitely brush up on the laws in St Louis because this is from a few years back.

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Do regulations in your area say you have to do owner occupy to STR? Otherwise, can just keep renting the rooms out after you move. If you have to owner occupy, maybe you could flip the script and just rent the rooms with long term lease, move out, and STR the other multifamily units in the house hack.

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I definitely recommend combing over these forums to read up on STRs. I personally think they are super easy to invest in remotely with a good cleaner / repair person, and a little bit of technology but I did do a couple of long term rentals locally. Just not sure that I would have to if doing it all over again. I also recommend David Greene's book Long Distance Investing. Congrats on making a move!

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Welcome to STRs! Sounds like you are already doing it right!

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I would hit up another lender. I can't tag Parker Borofsky, but she is an expert that specializes in this area. There are also Lenders such as Host Financial and Visio Lending that work in this niche.

Can you do it as a 2nd home loan? I think it mainly needs to be more than 65 miles away and somewhere you will go and stay for a few weeks out of the year. If that works, you can do a 10% down loan. Great product. Good luck!

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Awesome explanation, thank you!

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Birmingham, Alabama

David Greene's brrrr book is fantastic if you haven't read it.

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All Forum Posts by: Gerald Pitts

Gerald Pitts has started 11 posts and replied 460 times.

Post: Interested in Myrtle, North Myrtle Short term condo rentals

Post: Property Management Company's

Post: Cutting costs: Cable vs Streaming

Post: Short Term Rentals - St. Louis

Post: STR in Home Before House Hack?

Post: AirBNB thoughts and ideas?

Post: We are in the STR game!

Post: Newbie- First Deal Guidance Needed

Post: Steps for using a HML

Post: Thoughts on choosing a market for BRRRR