All Forum Posts by: Michael Porche

Are you looking specifically in Tampa only or are you willing to jump into other markets you are looking to vacation to? What kind of returns are you hoping to get

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Quote from @Katie Bustos:

I live in Boston and found a cabin for sale in Madison, NH that seems like it could be a great STR. It's about a 10 min drive from Conway. I'm worried because it looks like Conway recently tried to shut down all non owner occupied Airbnbs. Is there anyone that invest in this area that can tell me what your experience is like? Do you see STR getting shut down? Do you see booking continue even in the winter months?

How close to buying an investment property are you? I believe the easiest way to find out is by just contacting the city and asking planning and zoning what their current restrictions are.

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Quote from @Efrain Romero:

@Michael Porche Hey Michael thanks for responding. It’s just a place me and my wife enjoy going to and look to possibly partially retire their in the near future. I’m in Hood River Oregon but am currently working on becoming a Mexican citizen to have dual citizenship. I’m still dying my due diligence to see if it makes sense

For sure, yeah it would be helpful to have dual citizenship. however it'd be wise to see where you can leverage the loans the best just due to being able to have someone else's money work for you so that you can own these assets that put money in your pocket. If you need any help let me know. I have a few spreadsheets and trainings that will help you make those decisions!

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Quote from @Kyle O'Connor:

I actually just made a thread about this. Maybe I should of loomed first lol

I've been thinking if the looming threat of recession could be the final straw that will break the preverbial camels back to real estate prices.

I have heard that the shut down really stretched those doing the STR model and wonder if high gas prices + inflation + ressesion would see another dry spell in vacancies. This would put pressure to either sell or convert to LTR. If there is a large increase of selling I believe this will greatly increase supply as I have heard the majority of home purchases are second homes.

I havent really seen anyone talk about this so please let me know if I'm on to something or if I should put down the crack pipe.

Kyle

Hey Kyle! so overall what is your goal? What are you looking to accomplish? I think that is very dependent on the local market. If you saw what happened with STR's during the heigh of covid, some places didnt do so well and A lot of places did amazing. So you got to ask the question, why are they doing amazing?

Hey Kyle! so overall what is your goal? What are you looking to accomplish? I think that is very dependent on the local market. If you saw what happened with STR's during the heigh of covid, some places didnt do so well and A lot of places did amazing. So you got to ask the question, why are they doing amazing?

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Fort Lauderdale, Florida

Quote from @Anna Patty:

Quote from @Andrew Garcia:

Quote from @Anna Patty:

@Andrew Garcia Great information - I'm just learning about DSCR loans. Are there any drawbacks to DSCR loans besides a larger down payment? Also, when I google DSCR loans providers there seems to be so many options. Do you have any providers that you prefer over others? Thank you!

Hi @Anna Patty,

Yes, DSCR loans carry a higher interest rate than full doc non-QM loans or conventional loans as well as the higher down payment requirements.
As for which lender to go with, I must admit that I am a little biased but I recommend Andrew Garcia (AKA me). I would be happy to help you decide which loan option is best for you, even if you end up using a different lender.

Thanks Andrew! I'll ready out via DM!

Hey Haley! I have about 4-5 lenders I rotate through. 4 of them provide DSCR loans. I have one guy who gives a DSCR loan that rivals conventional loan rates which have been AMAZING. I also will have to disagree that you have to put more down. It depends on what lenders you have in your network. I have lenders who will go low as 15% for a DSCR loan that is turn key. and then I have lenders who will do 0-10% down loans on DSCR loans for rehab. The more people you talk to the better.

Also how are you analyzing the properties? sometimes its helpful to have a little spreadsheet so you can fill it out and see exactly how much you'll be cashflowing. I have one I can send you if you'd like. I'll share my contacts as well. Let me know if there is anything I can do to help.

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Yesss calling is the way to go! Get the facts and find out

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Quote from @Casaundra Ricker:

Under contract on my first rental property. Scared and excited all at the same time!

Congrats! in Tennessee?

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Knoxville, Tennessee

Why out of country? are you a citizen there? Hard to leverage loans and debt

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Quote from @Sastry Srini:

I am curious to understand "buy existing vs build" STR approach. Any financial analysis done + time-to-market?

Pros and cons to both. You can control the cost from starting from scratch and build more units. if you build more unit you get more revenue

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All Forum Posts by: Michael Porche

Michael Porche has started 17 posts and replied 209 times.

Post: Property Management that allows Airbnb

Post: Investing in Tampa, FL

Post: STR in Madison NH, a good location?

Post: Buying a property out of country for short term rental

Post: The Market Crash 🤔 or lack thereof ?

Post: STR OPPORTUNITY, BUT NEED HELP WITH FINANCIAL OPTIONS

Post: Applying for short term rental permit

Post: First Rental under contract

Post: Buying a property out of country for short term rental

Post: Wanting to buy land+ build STRs near a NP on EC, anyone have exp?