All Forum Posts by: Jeffrey Schratz

I have a family member who will be attending Trinity University in Dublin next year. I have been looking for properties to purchase, so that she can live there for the school year with one or two room mates. During the summer, we would go with STR's. Having reviewed the laws and underwriting the deal, it looks like it would work well. Looking for any flaws or pifalls that I may be mising. Thanks for any input or insights!

I have a few STR's and am venturing out into MTR. Looking for advise, and maybe a punch list of "must haves" for the unit. Thanks in advance!

Jeff

I have an STR in New England that had a basement oil tank. This winter it developed a leak. Fortunately, a guest was there who alerted me to the problem in a timely fashion. Even with that, remediation has cost me over $50,000. And it is NOT covered by my insurance. They claim it was due to corrosion. And I had an annual furnace inspection 1 week prior to the leak! I have subsequently learned that for a minimal fee, you can add a rider to your insurance policy to protect yourself, should a leak occur. Hopefully, this info will help prevent this frustrating situation for folks in the future.

Thank you all for taking the time to weigh in. Sounds like I best stay away.

Really appreciate your insights!

Jeff

I have four STR's and manage them all differently. Some with property managers, some without. Thinking of using Vacasa for one in Maine. Any thoughts?

Thanks in advance.

Jeff

Thank you all for the info. I will let you know how it goes.

I just completed a BRRRR, having invested a total of $150,000. I had estimated that it would appraise for $200,000-$250,000. The appraisal came in really low, ($132,000). In reviewing the appraisal, the comps average about $175,000. Its a 4 unit, with two units already rented at $800 and $900 at the time of the appraisal. The appraiser estimated the other 2 units to rent at $700 each, but the just rented for $925 and $975. How do I best approach the bank and/or appraiser to try and get a higher appraised value.

Thanks for any thoughts.

Jeff

Looking to purchase more STR's and curious if anyone can suggest which is better for analytics: Mashvisor or Airdna. Thanks!

Jeff Schratz

I posted in the past that I was looking to refinance an STR, but keeping it within my LLC. I reached out to Arkad, and they were great. It took a little time, but the staff was diligent and very helpful. I got a great loan with a great rate. I am very pleased with the result!