All Forum Posts by: Melissa Silk

Hey Derek,

Connect with @Dakota Coburn, he knows the area well and is an investor in the area.

Not sure how ADUs are regulated where you live, but in all the towns near me, you can't put an ADU on unless either the main property or the ADU itself is owner occupied. Just make sure you check with the code enforcement office in your town.

 Haha totally!

I've been looking into doing a similar model. One thing to note, (that I never thought of) is to make sure you know what the requirements are of the town(s) you are looking at. Not just in terms of do they allow it, but specifically what is the minimum amount of land per dwelling. Some towns near me require 3 acres per dwelling regardless of TH square footage. Just thought I'd mention it since it wasn't something I'd ever considered when doing research.

Looks great @Shiloh Lundahl! What a gorgeous property!

Hi! Just a quick note of encouragement to people (especially first-timers) who have gotten discouraged looking for properties in this tough market (this is me on most days). I drove up a really nice street with lots of land last week and thought, this would be a nice area to have a STR. So I did a little research, found out who owned more than 15 acres on that road, and reached out. I hand wrote 5 letters asking if they'd ever considered selling some of their acreage. While nothing has worked out yet, out of those 5 letters, 2 people have called me! One of which gave me another lead and phone number! I know people usually send out thousands of letter/postcards, but you've got to start somewhere. Even if nothing comes of it, it's a little energy boost, and hopefully by sharing, I can offer some encouragement to anyone who might need it.

I've been looking for land for about 5 months for that exact purpose! I'm in southern ME, and like everywhere else, the inventory is almost non-existent. Were you thinking of doing something in CA?

Hey Adam,

I just sent you message, but forgot to mention that I've been doing a ton of market research, if you want to connect sometime.

Thanks for your response, @Jonathan Bombaci. Quick is even an understatement! I've seen things sell in less than 24 hours!

I'm definitely interested in doing more networking, that's an area I haven't focused a lot of time on. Thank you for the heads up about your meetup, I'm going to check it out!

Thanks for your reply, Paul. I've been thinking the same thing about waiting out the market a bit. It's just so hard when you see other people doing it, and having success. Every blog I read, podcast I listen to, and video I watch, everyone says don't wait to get into the market, it doesn't matter that it's a tough climate. What I don't understand is how they are making any money? With the listing prices so incredibly high, after rehab and carrying costs, there's barely anything left for profit.