All Forum Posts by: Kasey Sulheim

Quote from @Kasey Sulheim:

@James Hamling

What’s the secret sauce James?!! Being from MN I’m really curious to hear your insight. Thanks!

Things of value are never free, and those of exceptional value are exceptional not free. It's my competitive advantage of the moment, why I have the results I do and people not only pay me what they do but with a smile and a high-5. 

If a person dissected what I wrote here, studied from past posts and had a dash of luck, I think a person could figure it out, maybe. 

I never, ever work by impulse or emotion, I am a Strategy-Spartan. 

I would like to buy a lake house in northern Minnesota to use as an STR when we're not using it. There are a few big lakes and then lots of smaller lakes close by. The houses on the big lake seem to be worth $100,000-$200,000 more for a similar house. This would be our first STR and I'd like to spend a little less while we figure out this new business model. I'm curious if people have thoughts on whether or not it's worth it to buy one on the big lake or if the smaller lakes will do just fine? Am I looking at this the wrong way? What other things do I need to consider?

Hey @Jared Luhman. As someone who owns a lake house STR in north Idaho, I would shoot for the larger lake.

It really depends on what you mean by large vs small. I have seen some folks talk about their lake front property and the "lake" is about 15 acres. That is a pond IMHO.

Our house is on Lake Coeur d'Alene. That is 2.26m acre ft. In comparison, Lake Superior is about 9.9b acre ft. It is the 65th largest lake in the US.

So I consider it a large lake.

Frankly it will depend on the size of the lake. If you can boat on it and other watersports, then it should be good to go. I wouldn't have a place that didn't allow motorized watercraft. You will get more bookings that want to boat vs canoeing and kayaking etc.

That is my opinion. There is another lake called Hayden Lake. it is right in town but a much smaller lake. It is still a solid lake for waterfront STRs and only 3800 acres.

Quote from @Kasey Sulheim:

Quote from @Carlos Ptriawan:

Zillow data for November is out!

And the winner of the highest appreciation in the United States in the last 6 months are :
1. Kaui county
2. Maui
3. Kona

This is actually the biggest advantage of investing in Hawaii, Cole. The price is always moving up, however with exception, honolulu price is moving down actually, but real actual islands never faces recession.

I’m curious what you mean by “but real actual islands never faces recession”?

That's just my personal view lol So all these 4 main Hawaiian islands are very unique, there's only one industrial/city-like with a lot of jobs and that's Oahu. While the other three islands I considered as the "real Hawaiian vibes/ Hawaiian living" ( I don't consider Honolulu/Waikiki or Ewa beach as real Hawaiian for example), even Kona sometimes I feel lost few charm of its past Hawaiian vibes. What I've seen here is, maybe investors from the mainland is flocking to invest in Kaui, Maui, and the big island (Waikoloa/Kona/Waimea) ; although these three island doesn't really have many diverse jobs other than tourism (unlike Oahu that has military and tech sector as well). I found that reality to be fascinating, where the more natural the island is, the appreciation is higher, probably because these islands are not that industrially-developed like Oahu, but that's what makes investors is flocking to the area. 

In other "Island" country, it's the reverse that's happening.

Zillow data for November is out!

And the winner of the highest appreciation in the United States in the last 6 months are :
1. Kaui county
2. Maui
3. Kona

This is actually the biggest advantage of investing in Hawaii, Cole. The price is always moving up, however with exception, honolulu price is moving down actually, but real actual islands never faces recession.

Hi BP!

Well after much research, reading, discussion & questions to members here (Shout out to: @Chris Noles, @Shane Lafleur, @Michael Weigum & @Daniel Denning) my fiancé and I have purchased an oceanfront studio condo in Myrtle Beach South Carolina which we will be using as a STR. With the help of our property management company we hired we are now live on the major platforms and accepting new bookings!

As many members of this Bigger Pockets community have stated the hardest part was the "Analysis Paralysis" and taking that first step, but glad we did. Thank you again to this platform for helping us move to the next stage in our investing journey.

Below are links to our listing on both VRBO & AirBNB. 

Looking forward to meeting and networking with more of you that are also investing in the Myrtle Beach area. Thanks!

VRBO listing: https://www.vrbo.com/3128694

AirBNB listing: https://www.airbnb.com/rooms/769390999385462290