All Forum Posts by: Geoffrey Murray

@Kate Stallmann

Welcome to BP. I'm also in North Conway, we're living in and rehabbing our first house now to eventually turn into a vacation rental. Like you, we don't have the money to invest more yet, but we are always keeping an eye on the market and learning everything we can.

BP has enough people and info to keep you busy for quite a while, enjoy!

We started a vacation rental last spring, it's been successful, but not overly so. Our 2bd, 2bath townhouse is a great place, but doesn't stand out in a crowded vacation rental market, we use homeaway and vrbo. I haven't used airbnb, but I've been thinking of joining Flipkey. I've been doing a lot of research into marketing, it's well worth it but it does take time and energy. Certainly a business, not passive income.

In the beginning we tried to get away with cheaper listing but in a market of 200+ rentals we were at the back of the pack and had hardly any inquiries, we stepped up and paid for a listing that put us right up front and it definitely paid off. Starting out, depending on the market of course, I'd say that's a necessity.

All in all I don't find it to be overwhelming right now, it's a matter of developing systems and having a good team. Good books on the subject, how to rent vacation properties by owner, vacation rental success.

@Katherine Thorndike welcome to bigger pockets! it's a really great resource, lots of great people! I'm still moving forward, our renovation has taken some good steps forward this fall, but it will never move fast as we live in it with our 3 year old....loud construction noise does not make for sleeping children! I've recently become a real estate agent and I'm hoping to get some clients I can manage property for. I agree about staying local, it's much easier when you're starting out. As far as tamworth goes, it's a great town, some really beautiful areas...it would all depend on the area you are looking at and what your plan is, if you're looking to rehab it might be a while to sell, but if you're looking for buy and hold it could certainly work. It's nice to see another northern new hampshire investor here, there certainly aren't many!

Welcome to BiggerPockets Francesca Nurlu, I'm also focused on vacation rentals, it's a great and growing industry. Check out Matt Landau's posts and blog, he's full of great info about many aspects of vacation rentals.

-Geoff

Ron Climer, thanks! I agree, I'm going to speak with some local offices to see what I can do for them. I'd like to be a full time real estate agent for a while as I build up my education and funds.

Welcome to BP Dustin, I'm not in the teaching phase yet, just beginning myself, but this site is an incredible learning tool, look around and check out the articles and forums. Happy learning!

Ann Bellamy, I agree, we're currently working on the rehab of our first vacation rental, although living in it slows the process. I did check out @Karin DiMauro's post, turns out she has a rental in my town!

Any good places to look for owner financing besides craigslist? Also anyone have a good idea for "foot in the door" projects/jobs, I'm currently working full time and paying off the initial rehab, so I'm going to spend this time learning until I have some capital available.

Thanks to everyone!

Thanks so far it's nice to feel welcome, these forums are amazing in the amount of response you get. As I'm trying to learn as much as I can, I'm curious what Marco means by "I am an out-of-state investor (bought over 100 units), and 95% of our clients are all long distance investors buying "turnkey" rental properties (not wholesale or fixers" what is your position? are you finding properties for investors? or buying with other investors?
I'm trying to take so much in it's honestly getting a little confusing, so many different ways of investing!

Hello all, I'm a new member from North Conway, NH. I've been reading and listening to all the info I have time for. The BP podcasts really got me moving in the right direction. I bought my first house two years ago and we're living in it until we can rehab it for vacation rentals. (North Conway is a year round tourist town)
Looking forward to all the possibilities out there is exciting, what concerns me is that I don't live in a large town. The closest city is Portland, ME which is an hour away, and then Concord and Manchester, NH. My goal is to buy and hold, just waiting on funds. I have also been listening to Epic and Ultimate REI podcasts and the ideas for wholesaling do sound appealing. I feel apprehensive to start looking at properties that are not near my town. Can anyone share some thoughts on this? Thanks for everything now and in the future!

Thanks for the quick response! I will start looking for the latter of the two types of brokers you mentioned. At the moment all I'm looking for is access to the MLS and to be able to buy properties without going to my local real estate office. Thanks again, and looking forward to all this site has to offer!