All Forum Posts by: Jason Regan

I agree with everyone make sure you know a loan you can put in place after and have strong comps. If you are going into a 10% down vacation loan then its going to run off of sold similar properties. If you want $700k then you better have comps that say your house is worth $700k. If you are going the DSCR route, make sure the earning can cover that type of loan and you have good credit. I would reach out to some lenders and make sure you can get approved and figure out the loan types. This way you don't get a huge headache later on

I don't use @Alice Horn myself as I decided to self manage.  I did talk to her several times before I did though and I will let you know she knows what she is talking about! I would have chosen her if I didn't self manage

I was charging the guest 35 a night to have the pool heated.  I recently stopped this because that 35 a day still wasn't covering the cost to heat it daily.  I am working on getting a system installed where I can have it heat up only 8 hours a day.  This will get them the heat they need and not destroy my elec bill.  Another thing to think of when talking about heating a pool is you need to let the guest know it takes hours to heat up to temp (found this out the hard way).  If a guest doesn't know this they will complain its not heating and you will be chasing your tail to figure out why

As always I am going to go with then others on here and say check with your loan officer.  The rules seem to be more like the pirate code, guidelines.  From what I get the intent needs to be to use it as a second home and I always here 14 days floated.  If you are checking on your Airbnb you should get 14 days there easily.  I like buying in places I want to go.  I still treat it as a business and don't go during peak, but rather where there is downtime.  

I like combining Price labs with Enemy method. the price labs helps me get a high level overview and it also gives links to the properties.  I then enemy method these and see what's comparable to mine .  What they do in a year will be a good idea what mine will when established.  

@Bruce Woodruff Thanks man! Research is the key. Just because its a STR doesn't mean it makes money, especially with the rising mortgage payments. Also, not everything can be turned into a STR. Places like Nashville or Destin have the areas they are allowed heavily restricted

Hey man shoot me a message. My investment strategy is vacation homes (STR) . I'll be glad to see if I can help you out

I invest in Worcester county too. Feel free to reach out, I always love to geek out about REI

I like using price labs also.  I tend to use Airdna as a high level check, then go into price labs to find like properties and export them.  From there I use these links to enemy method and see which ones are like the ones I am looking at.

@Benjamin P Scribner  I would dig deeper into the numbers in that area.  What you posted was a general amount, but how does that area perform?  How does that may bedrooms rent?  Go grab price labs and do some real digging