All Forum Posts by: Kristopher K.

Hey! Why not the east coast @Ryan O.? Just kidding, kind of. I know quite a few people that have relocated here from there and head back to your part of the country for vacation. East Coast has a pretty good variety from beaches to mountains. Swim, ski, bike, ride, foliage.

We don't have the year round properties that offer one season. We have at least 3 seasonal rental periods depending on the state. I don't know a lot...or even anything about other parts of the country as far as vacation rental markets but I see potential on the east coast for a large demographic.

I'm not really trying to persuade you but hoping I can get you to think outside your comfort zone a bit. I'm also being a bit hypocritical because my vacation rental is on Cape Cod, the next VR I get will most likely be in NH, both of which I am comfortable going to and vacationing at, I am also self managing my properties for now.

Anyway, enjoy whatever you chose!

Thank you BP and @Karen Margrave!

As I'm slugging through my first official start of the season with my VR project I got the keyword alert for this forum. One minute I think this is great, the next I'm wondering what the heck I got into (not quite that nicely in my head). Either way it'll be a great experience and I'm positive this will become a great forum.

Hi @Tom Dever, welcome to BP. I've set my sights on Conway for the same reasons yourself and @Karin Crompton have mentioned. I was looking at a couple of properties this past year, one was a condo, the others were single family. What I found were condo by-laws that prohibited weekly or short term rentals. I also found management to be in the 30-45% range, there's also a lodging tax. The management fees seemed to include weekly turn over, marketing, and inspections. One group I believe collected the taxes as well.

It hasn't discouraged me yet because similar to my other vacation rental on the Cape, I will use it myself. I'm also not saying this to discourage you, just wanted to pass along what I found so as Karin says, you can buy it right.

Hi @Spenser Ouellette, welcome to BP. I'm not from Maine but I do have a keyword alert set so I know there are investors on BP up there! That's how I saw your post, so make sure to se them up.

What part of the state is the brewery start-up? 

Kris

Brandon, I am totally impressed with your energy and enthusiam. I listened to the podcast this AM and here you are still pumped about REI tonight! ( I know, pre recorded podcast, but still - live webinar) Hope all those above in this post are able to see the recorded version.

Nice job.

Welcome @John Gentile 

Those are two pretty active areas right now! I've heard your town has some potential too. How did you come to pick Somerville and Medford?

Kris

Hi @Kate Stallmann ,

I've been looking at Conway for one of my next properties. I looked at a condo over in Center Conway, I couldn't get it to work monthly. They limited to monthly rentals as well, weekly would have been great...except the management costs are 30-40%. I think the area your condo is in would have a lot of competition for them short term, maybe you could do a 3 month for ski season and try weekly/ nightly for the rest? Or even try a summer rental for the seasonal workers? Will you self manage?

There's some great info here as far as the duplex, definitely seems high depending on what part it's in. If it's in N. Conway village vs Center Conway vs Conway Village...

Kris

Welcome to BP @Kevin Norton .

To respond to someone, use the @ symbol at start typing their name. A list should show up towards the bottom of message area. They'll get a message that you 'metioned' them in a post.

Love your job title - something for me to aim for! Whereabouts are you buy/holding?

Welcome @Scott Sutcliffe some very good advice from @Maura Paler and @Shaun Reilly  Check the Condo by laws about renting weekly. I was just looking at one in NH and they do not allow it. I have a vacation rental in Dennis Port that I just finished a rehab on and was able to get rented a couple of weeks. Hoping to get a lot more next year.

There is a lot of demand for housing of Cape, so look into the off season for monthly rentals too. Shoulder seasons have good potential too for weekends. If you go off season monthly, screen, screen, screen the tenants.

Welcome @Samuel Getant  Don't forget the BP books and guides. @Shaun Reilly mentioned the Black Diamond events too- great for networking as well as learning. The Worcester event is the one that you'll find the locals, I've even seen some faces there from the Waltham events.