All Forum Posts by: Heather Carrow

@Andrew Daniels The OBX is where I am planning to go for STR's. It seems like a great market. Just trying to get my ducks in a row before I pull the trigger.

Jeffrey, congratulations on your first STR! I live close to PA and I am planning on doing STR's in the Carolinas as well! Haven't jumped in yet because I am working on saving for a down payment. What made you choose Myrtle beach?

Have you thought about hiring a virtual assistant to self manage for you? Seems like it would cost you less money to do it that way. You could pay them an hourly rate or pay them a commission lower than a property management company would ask. 

Thank you all for responding and giving advice. I am so happy to be a part of the BP community. I am thinking that I am going to have to just jump in and do some STRs further away from where I live than anticipated. I like the idea of having someone nearby to check on the property, but I can probably find someone through networking. 

@Avery Carl Thanks for adding your input! Your episode on the BP podcast was really inspiring for me and encouraged me to commit to doing STRs like I have always wanted to. I think the first deal is always the hardest, but once I jump in I will feel more comfortable. 

@Lauren Kormylo thanks for reaching out and linking to a related post! I wish the Delaware beaches were a better place to invest! I know that area like the back of my hand and it's only a short drive from home. Maybe one day I'll get a property in that area for personal use. 

@Meg Minetree where in the OBX do you have properties? I am partial to Buxton, Frisco, and Hatteras. Do you use any of the major brokers down there (midget, outer beaches, etc.) for your turnover services? Why did you chose to do more LTR over STR in the OBX?

@Mark Miles Thanks for the input! I am going to start focusing on the south. You are right- I need to focus on year-round STRs to bring in the most cashflow & I plan on managing them myself for now. 

@David Nacco & @Scott Westfall Thanks for the input! I am definitely interested in learning more about Virginia Beach.

Thanks, @Luke Carl ! I am just hesitant to buy my first property too far from where I live...maybe that is a fear I need to overcome by just jumping in. 

What markets do you have STRs in?

I am new to real estate investing (currently house hacking). Ever since I was a kid I've wanted to own vacation rentals and it is something that I am really passionate about. My spouse and I would like to start out with STRs and maybe eventually do some long term rentals. My issue is that I would like my first few properties to be within a reasonable driving distance from my house, but I am unsure of the stability of these markets. For example, I live closest to Maryland and Delaware beaches (Ocean City MD, Lewes, DE, Bethany beach, DE, etc.) however, these areas only have strong tourism during summer months (May-August). My other thoughts were Virginia Beach, Myrtle beach, or the Outer Banks. Does anyone have any experience investing in STRs in these areas? What do you look for when evaluating good STR markets?

Hi friends!

I am new to investing. I have one house hack and I am working on finding my next deal. My absolute dream job is to have vacation rentals. I live close to Maryland and Delaware beaches & I know the area like the back of my hand. I am looking to connect with folks who are or who have invested in the area. I am interested how investing in the area has turned out for you and if it is worth it since it is not a year-round tourist area due to the weather. 

If you don't invest in this area but invest in short term rentals, where do you invest? I am also interested in branching out to other hot vacation spots

Jeff,

Thank you for sharing your tips! It was definently helpful! 

Thank you! I am planning on getting the book on estimating rehab costs!

Hey guys!

I am trying to practice analyzing deals for house flipping with my calculator tools on BP, but I don't know how to estimate repair costs on a home without walking through the property with a contractor. Brandon always says to analyze a ton of deals before you do your first deal, but how do I analyze them when I can't come up with a rough repair cost? Does anyone have any tips on doing this?

Thanks!