All Forum Posts by: Kyle Flynn

I have found deals in the following areas:
Elijay, Dahlonega, and Jasper.

What are your thoughts on these markets/the overall greater north ga STR market?

 Thank you Bob I will keep you in mind going forward as a potential lender!

 Hey Miranda I have had a few good deals pass me by now due to not being able to find that partner/hard money. If you can either give me tips, or connections I would be forever indebted to you.

Hello All,

I am trying to put together a STR Deal in the North GA Area, and have found multiple deals that would cash net 12-18% Cash on Cash return year one. I have some capital to put into the deal myself, but unfortunately not enough to get into a deal on my own. Also, I have a solid network of people/vendors as well as property management experience.

The last couple of weeks I have racked my brain trying to figure out different ways of making the deal happen, personal loan, business line of credit, etc. Now I am trying to find a private lender that would be willing to lend towards a short term rental/airbnb/vrbo property. 

I have up to $20,000 to put towards my next deal, and am looking at properties ranging from 150-300K. On average after factoring furnishing, renovations, downpayment, etc I would need around 30-50K to get into my next deal depending on the property.

More than anything I want to get my next deal done within the next couple of months, and I could really use some insight or connections. 

Thank you!

Also, I would recommend calling a couple of PM's in your area and asking for quotes. That'd be the best way of getting the real numbers.

From what I understand the market rate in general is around 30% which is WAY higher than normal long term rentals. You may be able to find as low as 20% depending on if they are newer. Keep in mind that these rates only apply for short term rentals.

Congratulations on the twins and best of luck!!!

That's awesome! I just finished my first renovation and did most of the work myself as well. What are your plans for the future?

 I am attending a meetup in June, and have already connected with a couple of really great investors that have been helping me out. Thank you for your insight!

 I believe that he would, however he has a couple of businesses so he may not be liquid enough to do another deal for quite some time. After this deal I will be looking to partner on another deal ASAP. Thank you for your insight!

Hello everyone,

Two things.

1ST THING:

I am currently looking to buy a STR in the north GA area, and I am the sweat equity investor. I have a meeting Monday to discuss with the capital investor how the deal will be structured, and could use some insight. Currently this is what I envision for the structure of the deal:

EQUITY SPLIT: Capital Investor gets 100% of his down payment, and then we split equity 50/50 from there.

CASH FLOW SPLIT: Totally unsure as to what is/isn't fair but seeing as the market rate for airbnb management is already 20-30+% and I am bringing the deal to the table I feel as though 50/50 cash split wouldn't be an insane request.

SELLING: Upon one of us wanting to sell out the other would have an option to buy out the other partner's equity, and if unable or unwilling to do so we must sell the property. I would want to put in a time constraint on this such as a year.

ROLES: Capital investor invests the down payment/closing costs/money for furnishing if needed, and then is completely hands off. I will manage the property in its entirety.


2ND THING:

I would LOVE to get some insight on how to find more investors with capital, as I only have one connection with capital right now. They would only be able to fund one deal though, and I am looking to complete two more deals this year at a minimum.

Thank you for taking the time to read my post. Any advice/insight would be greatly appreciated.