All Forum Posts by: Leslie Beia

Quote from @Jordan Moorhead:

@Leslie Beia we work with a lot of Airbnb investors here in Austin and I'd love to connect!

Great! Traveling today but I will give you a call soon. Thank you. 

Hello! I am a newer investor with 2 active Airbnb's and the next one currently in rehab. I live in Nashville and invest in TN and MI, but will be moving to Austin as early as Spring 2022. I'll be building my portfolio this year in those areas, but wanted to see if I could connect with active investors in Austin who might benefit from having someone to set-up, design, and manage their properties. My deepest reward in this business is creating comfortable and awesome guest experiences, and I know that's not every investor's strongest suit or area of interest. If you're interested in talking, please send me a message, thank you!

Quote from @John Warren:

@Leslie Beia I feel like this is an opportunity. I would call 10 local banks and credit unions to see if anyone is interested in working with you. I would put together an elevator pitch and a small business plan showing them how these properties will perform. I feel like that may be the best route to go. Local banks are way more creative than people think, and they will tell you in the first 5 minutes if this is a non starter or if they have some interest in this. 

Thank you! I feel like this is great advice. I have a built-in aversion to banks because of my very creative, non-W-2 background, but if this is really what I want to do, I’ve got to pursue every possible avenue!

Quote from @Drew Sygit:

@Leslie Beia

Why would a properly done BRRRR NOT be eligible for a cashout refi when you are done?

From what I understand from talking to lenders, 2 potential issues. One is that rural properties often don’t have good rental data, and most lenders won’t use short-term rental income as a metric. Also I’m interested in non-traditional dwellings (like log cabins, A-frames, etc.), which lenders aren’t too keen on. I spoke to a lender the other day who said she has someone who would lend on a log cabin, so not impossible, just less probable. I’m only able to do asset-based/DSCR loans, if I could do conventional it wouldn’t be as much of an issue. BTW, are you any relation to my friend Jen Sygit in Lansing?

Quote from @Joel Trout:

Hello Leslie,

I can't help you with finding lenders, but I invest in long term rentals in Cadillac Michigan and can help with any referrals that you would like.

Thanks!! 

Hello! My 1st Airbnb is a log cabin my dad built back in the early 70's outside of Cadillac, MI, on the land his parents settled 50 years prior. It has done better than anyone in my family expected, and I've realized that this area is a pretty amazing, under-the-radar gem for vacationers. Year-round activities in the National forest, rivers and lakes, and small local ski hill are the focus, and it appeals to hunting buddies, families and couples from Chicago and the lower part of the state. My reviews are excellent and people have loved staying there. 

I would really love to continue to invest in this area, however I am aware that getting funding for rural/vacation properties is rather difficult. Certainly hard-money lenders won't touch it, and I'd be wanting to purchase distressed cabins and cottages so would need some rehab funding. I know it's a long shot, but wanted to throw it out in the forums if anyone has any ideas for me. 

I currently own 4 doors, one under rehab, 2 Airbnbs, and a long-term rental. I have received hard money and DSCR loans. I have about $90k cash to work with so I'll happily put skin in the game. There are a few properties that have my eye right now, and it's the absolute best time to buy in the frozen north! I just don't want to sink all my cash into one property that may not be eligible for refinance, so just trying to educate myself on all my options.

Thank you!

Thanks! I may have not said it clearly enough, but I am definitely looking outside of Nashville for STR's. I am well aware of the permitting issues and also I think Nashville has plenty- I'm not really interested in being part of that problem (I know we all have our views, doesn't need to be debated). I'm also looking outside the city at flips- as I said with $170k to work with, I can't do a lot in this market. I'd also love to hear about investing passively. Thanks again!

Hey Colby! I'm a newbie myself but I used to have property just outside of Goldendale! I remember thinking that it would be great if The Dalles would start to get kind of cool and develop into something- maybe that is starting to happen? Certainly more and more folks are getting out of Portland and exploring the option of smaller towns. I guess I'd look at tax implications between OR and WA as a start- I recall it being good to own property in WA but shop over in OR :). Good luck to you!

Hello All,

I've recently relocated to Nashville. I'm about to sell my house in TX and am looking to invest the $...somehow. I'm in a great rental situation- affordable/great neighborhood- and so I'm looking to work with the proceeds from the house instead of buying a home to live in here. I own a STR cabin in northern MI, where I'm from, that's been doing pretty well and so I've had the idea to buy another similar property up there (I do have a great husband/wife team that takes care of the place, pure gold), or something similar outside of Nashville that I could manage and occasionally enjoy myself! But now I'm saturating myself in REI info and realizing that another STR may not be the best choice, and I'm overwhelmed with possibilities. I'll basically have around $170k cash to work with and I could use some direction. One of my bigger questions is is it better to passively invest with that amount since I'm not very experienced, or dig in and try to do the work to get the most gain? My career has all but evaporated with covid and I have no idea when I'll be able to get back to it, so I have time, and also a pretty decent basic knowledge of cosmetic household fixes. In other words, I'm open to getting my hands dirty but also don't want to get in over my head. I'm definitely looking for folks to connect with and possibly partner with in this area. Any advice appreciated!