All Forum Posts by: Grant Med

What are the barriers to getting and STR going in Lincoln City? I have family moving there and I am considering moving as well to be near them. I only buy properties where house hack and I have the ability to STR/MTR. I'm super stoked that you posted on this because I am actively looking haha.

Thanks!

Hey Harshal!

My wife and I were under contract for a great house in Bella Vista last year and decided to pull out of the deal after the inspection. Bella Vista is a really great spot for a homeowner but investing there is tough. The entire town is in a property owner association(basically and HOA). It makes it hard to know what strategies you can use there. We ran our numbers as an STR/MTR hybrid and the numbers weren't super great even with the BOOM in STRs in the area. The area does not have explicit rules on STRs so its a gamble with that strategy. Rents are also pretty low there. The area was designed as a retirement zone and it still has that reputation. I believe the prices are lower there compared to Bentonville because of this reputation. It is a beautiful area but because of the zoning and rules up there it would be difficult for the area to "blow up" and have a ton of new growth.

Thank you to everyone who has replied! All of this info is really helpful. It sounds like most of the documents are easy to find on my own. But drafting the note I do not have any experience with. Are these title companies usually pretty on it when it comes to putting in terms? Or should I try and specify as many as I can?

Hey everyone!

Does anyone out there have a solid seller financing contract that they'd be willing to share with me? If you are, please reach out!

Thanks.

Hey Louis,

My wife and I are investors in Shreveport. Feel free to reach out anytime!

Hey Ryan! 

I know this was over a month ago but I own an interesting property in the area just like yours and if you want to DM me I'd be happy to talk numbers with you. My wife and I are are looking into acquiring more STR's in the area so let me know!

Will you be hosting any other events soon? My wife and I are looking to network with more investors in the area but haven't heard of any REIAs out here.

Thank you guys! There is definitely a lot of angles to look at with this deal. Thank you for all that info and I will for sure be adding that into the questions. Luckily the seller has meticulously been maintaining the property for over 15 years. He also had the electrical and plumbing updated as well. The roof is on the older side at 15 years or so but appears to still be in really good shape. Those numbers for cap ex, maintenance and vacancy are pretty close to what we came up with as well. The property in in Shreveport, LA and not in a flood zone thankfully. Thanks again.

Hey everyone! My wife and I are moving to Louisiana and we have been presented with an offer that we are seriously considering. The main home in which we will be living in is 110 years old and has been beautifully maintained. The home includes a private entrance living quarters attached to the home (includes full kitchen, washer and dryer, wet bar, 2 walk in closets, etc.). There is also a separate small cottage in the backyard that is rent ready as well and it's currently being used as an STR. Obviously there is a ton of potential for income streams with this property but here are my questions:
1. Does anyone have experience with older homes and the associated costs to truly maintain them?

2. What questions would you ask the seller to best CYA to truly know if it's a good investment?

3. On average, how likely are sellers willing to disclose utility bills for the past year? (No separate meters for the 3 living areas)

We are already owners of a much newer rental property so this is definitely a much more involved decision.

Thank you!

Hey everyone! My wife and I are moving to Louisiana and we have been presented with an offer that we are seriously considering. The main home in which we will be living in is 110 years old and has been beautifully maintained. The home includes a private entrance living quarters attached to the home (includes full kitchen, washer and dryer, wet bar, 2 walk in closets, etc.). There is also a separate small cottage in the backyard that is rent ready as well and it's currently being used as an STR. Obviously there is a ton of potential for income streams with this property but here are my questions:
1. Does anyone have experience with older homes and the associated costs to truly maintain them?

2. What questions would you ask the seller to best CYA to truly know if it's a good investment?

3. On average, how likely are sellers willing to disclose utility bills for the past year? (No separate meters for the 3 living areas)

We are already owners of a much newer rental property so this is definitely a much more involved decision.

Thank you!