All Forum Posts by: Brandt Tingen

@Jeremy Baker Hi Jeremy, Thanks for the info.  This is what I was thinking exactly, that a great first VR would be in an area with the highest potential occupancy %, which lends itself to a warm weather climate.  I'll reach out and hopefully we can connect to chat a bit more about HI rentals.  My fiance and I are planning a trip out there in the summer or fall.

@Raymond B. Hi Raymond, Thanks for the technical assitance

@Jeff Morse Hi Jeff, This isn't too scientific, but I just know I've done it right when I see the blue box pop up around the person's name.  For some reason this doesn't seem to happen reliably while I'm on my mobile gadget

@Levi Bennett Hi Levi, thanks for chiming in and creating an AVALANCH of great feedback... I was beginning to think for a while their that no one wants to buy vacation property on BP under 100-200k.. I thought maybe everyone was maybe way out of my league only buying places for over 1M!  Don't get me wring my ultimate goal is to own the 5-7 bedroom VRs in Breckenridge, Maui, etc., but one step at a time...  I'm definitely interested in Orlando, and have the ability to generate interest for multiple transactions if everything shakes out, I'll reach out to you today

@John Santero John thanks for the feedback.  I think that is a great point that we may pay premium for PM services down there, and I have heard that in C. & S. America, there are different pricing schemes for locals vs. non-locals for everything.  I'd probably go the route of finding someone or some company that is loyal, professional, punctual, and delivers great customer service, then pay them slightly above the going rate and offer other incentives to keep them close.. but I agree it would be wise to have plan B & C in line just in case..

@Shawn Pennington Hi Shawn thanks for the excellent breakdown on the economy and Orlando and your overview of your property performance, it is clear you have done your homework in the area and have experienced some success there.  I agree if I was experiencing fantastic performance, I would get on an acquisition schedule like you mentioned.  However, I also would like to diversify into warm weather US, warm weather Carribean, and cold weather US (I have heard many great things about CO VRs) eventually (I'm talking like having this level of diversification in 10 years).  It would be great if I could steal a few minutes of your time to get pointed in the right direction as I set out to purchase my 1st few VRs.

@Maura Paler Hi Maura thanks for providing your insight into VRs.  I actually love the adirondacks, what a beautiful area for hiking, canoeing, camping, etc.  I would be very interested to speak about your rental for sale, that could play very well into my strategy for obtaining VRs in multiple peak seasons/climates/locations.  I am curious as to how you turn the property between tenants when you are not there, but I am sure there are probably some very established property managers in that area.  Please reach me on 703.674.6777 or my personal email, [email protected] to discuss further.  Anyone else on this thread is more than welcome to reach me there as well.  

Should probably add a bit more info.  I think realistically I am looking for under 200k because I know 100k is going to be tight.  Some family is also looking up to 1M.  Ideally I'm looking to put 35-30% down.  I have a realtor friend who goes to Costa Rica frequently, and told me while a beachfront home can be 2.5M, a half back on the cliffs one can get a property for under 100k.  I have found that in some pockets of N America there are good little vacation submarkets with detached homes for under 100k that could rent well, albeit there are always some type of small to medium sized issue or another, from short term rental restrictions, to seasonality, to the macro economy.

I am also interested in the idea that in a short-term rental friendly community, it doesn't necessarily have to be in a vacation area, but many areas near a major metro or school will do well.

Basically I am looking for leads on where there are hot and/or up and coming markets, where the price to rent ratio is solid.  i thought I'd reach out to the investor community first, but so far it's been a tough slog.  I'll update on my progress.   

I am looking to buy a vacation property, but I would like to start off small and get a place for less than 100k to start.  Oh yeah, I'd also like the property to throw off a little net cash per year, and be in an area where short-term rentals are not frowned upon.  I have been looking at a few markets across the US, and am beginning researching the Caribbean, and Central America.  Am I crazy?  

@Anna Hamann Hi Anna, I just posted on this topic a few days ago myself.  I am still in the process of getting a team together to learn more about the market and look for a property.  How is your progress going so far?  I'm going up to meet my brother (from Brooklyn) over President's day weekend to do some skiing, and learn more about the area.  Feel free to PM me if you'd like to share details and knowledge as we go through the process.  

On a side note, I have also talked to my brother about getting some multifamily in Brooklyn or the developing areas further east, would be interested to hear your take on which areas could be the next to "pop"

@John Moore Really, that is really cool.  I would be interested in the outdoorsy stuff that there is to do in the area in the summer.  As I plan on spending some time there in short spurts with the family throughout the year as well.

@Jerry Padilla Idk about this logic, I mean timeshares typically feature a lot of properties in sunny places and sexy beach locales, so I could easily see how the Poconos would be further down on the timeshare totem pole.  IMHO I think the draw to the Poconos is it's proximity to two monster metropolitan markets and their middle and professional class who may prefer in many cases to tone it down from places like Miami, Hawaii, Vail, or Stowe, and instead have the luxury of a 1.5-2 hour car trip to somewhere where they will save on airfare, get a good deal on their accommodations, and still have loads of fun with their families without having to deal with exorbitant vacation costs and aggravating travel arrangements. 

@John Geldert Thanks for the tips, and the potential leads with a local broker/pm team.  I just sent you a colleague request with a bunch of questions. .. ha

This is a really great idea Brie, and the site looks amazing.  Quick question, when do you sleep?! LOL.  Please let everyone know when the site goes live!

Hello All,

A good friend of mine is selling his QuadPlex which he bought several years ago and renovated.  He is the listing agent (Keller Williams), and is also a wealth of knowledge on PROPERLY renovating and managing a small multifamily business.  Link to the property below.  

http://www.realtor.com/realestateandhomes-detail/3141-Buena-Vista-Ter-SE_Washington_DC_20020_M68735-96041?row=1

Keep in mind if you do not live in a major metro, there may be some sticker shock.  In DC quads trade for anything from 200k-2M depending on the area, much like other major metros. 

Send me a PM for my friend's contact info if you're interested.

Thanks for the insight John. Hey I was wondering if you could give me a referral to a realtor and a property manager in the area. Thanks!