All Forum Posts by: Joshua Messinger

Amazing to hear about your success on this one @Scott Simmons! 

Now the real question is what's next! Ha

If you ever need anything please don't hesitate to reach out! 

Live Free,

Josh

Hey @Yolanda Eccleston!

Just like @Luke Carl had said this doesn't work in a vacation market. A prime example of this is the current situation my team and I are facing in the Philadelphia area. We are now converting a large amount of our STRs into LTRs due to the local ordinance. But, if we were to do this in one of the vacation markets we are in this would not be feasible whatsoever. 

If you have any other questions please don't hesitate to reach out! 

Best of wishes, 

Josh Messinger

Hey @Steve Miklashevskiy! 

My team and I own/manage 3 in Albrightsville and many more across Monroe County.  

Two STR-friendly communities I want to point out in Albrightsville are

Towamensing Trails: Generally friendly towards STRs. When accessing amenities a wristband must be purchased. If not purchased you cannot use them. 

Indian Mountain Civil Lake Association: Very Strict Rules - Each Short-term rental must be registered with the Civic Association office and an administrative fee must be paid. For every single booking, you must register the guests on a short-term rental application form. 

If you have any other questions please don't hesitate to reach out! 

Best of wishes,

Josh

Hey @Caleb Stevens! 

@Collin Hays hit this one right on it's head! Any deal should be able to still do well in a recession or not. As for purchasing STRs, I will be purchasing in a recession or not. A great deal is a great deal either way! 

If you have any other questions don't hesitate to reach out! 

Live Free,

Josh

Hey @Michael Riba! 

If you are considering going the LTR route I would have an extremely strict vetting process. Even if the clients are being referred from any type of company you still want to know what you're getting yourself into.

Otherwise, what is the best-case scenario for you? How do the pros and cons weigh on each side?

If I can help in any other way don't hesitate to reach out! 

Best, 

Josh

Hey @Christine I.! 

Why not invest in properties around the 250K range? Then you will be able to acquire 2-4 properties vs. just 1. You can go with the strategy that you are looking to perform but this is of course inquiring a TON more risk on your end. 

Saying this I don't mean to bring any fear to you, but I would recommend putting your cash in more places than one so you are making a safer investment and not laying all your eggs in one basket. 

I hope this helped and if you have any more questions please don't hesitate to reach out! 

Best of wishes, 

Josh

Hey @Kim Abney! 

I would start with the 10 units that are vacant right now before vacating any tenants currently occupying your units. This way while you are going through the renovation process you are still making cash flow then after you are done can offer them a new place to stay immediately with higher rents. 

If I can help in any other way don't hesitate to reach out! 

Best of wishes,

Josh

Hey @David Urena-Amaro! 

Welcome to bigger pockets and I wish you the best of luck on your future endeavors.

If you ever need anything don't hesitate to reach out! 

Best of wishes,

Josh

Hey @Alexander Vargas! 

Please take note of what @Nathan Gesner said. He had simplified what you will mainly need to know about starting an LLC.

If you ever need any help or have any other questions don't hesitate to reach out! 

Best of wishes, 

Josh

Hey @Andre F Samuels! 

I wish you the best of luck in your future endeavors! You will crush your goal of getting one deal done and do many more! 

Best of wishes, 

Josh