All Forum Posts by: Kim Booth

@Jeremy Cardenales

Hey Jeremy, where are you located?

@Bryce Kennebeck

Bryce,

I agree with the others in saying that your best bet right now is learn learn learn!! Read everything you can get your hands on including Rich Dad, Poor Dad, study the Tampa Real Estate Market, join local investing groups online, through FB, however you can, and just ask questions and observe. Save your money for now, and keep adding to your nest egg as much as you can afford every month. Go finish your plans that you’ve laid out, real estate investing is never going away and will be there for you when you’re ready. The market is unknown at this point, and for a newbie investor, with COVID and in an election year, and you just starting out, if you have plans to not settle in the Tampa area right away I would suggest waiting until you’re closer to actually being here. RE investing is a great gig, but it’s one you’ve got to keep your eye on the ball, and if you’re not going to be here to do that I would wait until you’re closer to the time that you will be and until you’re a little more educated and ready to go. Then you’re set for big success!! All the best to you!

Hey all! I’ve been in the RE investment scene for over 20 years as an investor will be licensed soon as a realtor in Tampa metro area. I am planning to work with investors in securing income-producing properties, and I believe we’re headed into a great buyer’s market on multi-family, commercial and retail properties. I’m also always interested in matching great properties with new owners. Please let me know If I can be of assistance. Thanks! 

We had a STR rental in Gatlinburg in the Cobbly Nob area for 2-3 years and had great success with it. A couple of pointers - reviews on Airbnb and VRBO are worth their weight in gold, and communication with guests is the #1 key to great reviews. (We were 5-star the entire time we had the cabin). Cleanliness and accessibility were the top concerns, as well as amenities (views, hot tub, games, room to gather, cook, spend time together as a family, proximity to entertainment & park, etc.). Cute updated decor, comfortable updated beds, well-equipped kitchen, etc are all always appreciated and noted in reviews. Run "specials" during slow times, host friends & family for early reviews & feedback. For cleaning companies, call other cabin owners (check VRBO/ Airbnb reviews) where cleanliness is noted and ask for referrals for cleaning & rates paid, & what services are included (some provide linens, some don't, etc). Always personally interview the cleaning crew that will be cleaning your cabins & make sure you stay on top of them even if you have to pay someone to drop by for inspections occasionally. We always self-managed because we didn't want to sacrifice quality (no one else is ever going to care about your property & customers like you do), and we were long-distance owners. Always have a maintenance company available for repairs, ac/ electrical issues, heat/gas, etc. When storms hit up there they can be severe and guests get really nervous.

I am looking for a lender that will do delayed financing for a vacation rental home that we purchased in Gatlinburg, TN a few weeks ago. We paid cash for the cabin (we purchased as a REO from a bank at about 65% of market value) and are looking to cash-out finance about 60% of the purchase price. The local lenders I've spoken to are all saying that they would require 90 days' seasoning to finance, and that since this is an income property it would be difficult to underwrite as a Home Equity loan. I thought I read about a Fannie Mae "delayed mortgage" or "delayed financing" product that was designed for exactly this purpose but cannot seem to locate a lender that knows anything about it. Any help would be appreciated! Thanks.

Hello everyone, just wanted to take a moment to introduce myself! My husband and I are getting back into the real estate investment arena after being out of the "game" for several years. We're located in the Chattanooga, TN area, and are primarily looking for buy/ rehab/ rentals and flips. Looking forward to getting to know everyone! Kim