All Forum Posts by: Nayt Grochowski

Hi @Adam Schumacher and welcome! Many opportunities out there and some great meet ups in the OC area, such as the one @Karen Margrave mentioned, both @Joe Homs and her regularly attended and it is a great mix of new and experienced people networking.

That meetup is here:
http://www.meetup.com/Orange-County-Real-Estate-In...

And I am always up for meeting with fellow investors to see if there is a possibility of partnering up on projects. Reach out any time, I would like to grab a coffee with you whenever you have time.

@Thomas Morris thanks for that detail, will help me when I start to put the numbers together.

@Carole G. we don't have an actual property selected yet, just doing the initial talks to see if we want to buy a place and if our plans would mesh together. But good to know that the snow has been lacking in recent history, that would definitely affect the vacancy rate for the winter season. My partner is more interested in using it in the summer months as they don't ski - so will have to do some research on peak times to make sure we can get it rented a decent amount of time based on when he would want to use the unit.

Hi @Philip McTighe

The info from @Dana R. is great - I would be sure you add a couple more items that some people I find tend to forget on your rentals: Cable TV and Internet, not always required, but they are a great help to making your units more marketable.

Also I found in my research for one market I am in, if the property has not already been zoned for a nightly rental you have to get that approved by the city, and they also require a fire suppression system (sprinklers) be in place. So make sure you check your local ordinances to confirm you are in compliance and don't get fines or shut down.

I have a spreadsheet that I use to break down and compare properties at a glance - the BP calculator is nice, but personally I like plug in numbers for multiple properties and view them all together at one time. I have a copy in drop box that I share with people: VRBO Calculations

Good luck!

I have a long time friend and business partner that is looking to buy a vacation property in Durango and asking if I am interested in going in 50/50 on it with him. He wants to use it for themselves like a typical "vacation home", spending a month or two a year at the property - and of course splitting the time with us as the other half owner.

I am looking at it as a VRBO investment for the unoccupied times, since we would only go there maybe one week a year, if that. Will have to work out the detail to make sure we would both be on the same page for what is involved with having it "rental ready" when not in use.

Curious if anyone has any stories to share with a deal like this?

We are looking at Durango Colorado, more specifically the Purgatory resort area, anyone here have any vacation rentals in the market and would be up to sharing your experience with the area?

Hi Tyler,

Welcome to the community! Are you looking to focus on OC properties and staying in state or expanding out of state too? Good luck with your endevors and hope to meet up with you at a future FIBI event (I was at a the last round table they had).

FYI - another great place to meet other investors is the BP meetup ran by Clint:

Orange County BP Meetup

I am working to close a contract to purchase two apartment buildings in Cincinnati OH and am looking for a private money investor interested in funding the gap. Note that I will also be putting cash into the deal so I have "skin in the game".

Basics of the deal: ~135k, 10%, 5 year ballon, 25 year amortized.

I'm still early in the negotations on deal but wanted to put the word out that I am looking for an investor interseted in financing. Please PM me for more detail.

@Steve Dye

Yes - 40% for the property manager I am using - others in the area are charging 50-60%

It's completely hands off, they handle all marketing, booking, cleaning, restocking products.

Here is one post for the Proforma that I use for calculations:

Vacation Rental Proforma

Hey @Anthony V. Thought you might like to hear about the new vacation rental forum that Karen is helping push to get up and running.

@Jared Crouch

I have this is as a Google spreadsheet so I can access it anytime/anywhere - PM me and I will figure out a way to get you a clean copy you can play with. 

The vacancy rate is completely variable based the market you are looking in. You can get that data from property managers in the area, or doing research using vrbo.net or other sites to see how similar properties you are looking at are booking up.

Also - don't forget to use the @name tag so people know your asking questions, I just happened to see this one because I have a "vacation rental" keyword setup...

Good info @Shane Pearlman, always good to have a heads up on that, thanks!

I always see those costs passed on to the client, but you still have to collect and report it - as I am still getting into it my property manager handles it, but if you are doing your own and how sure how, I found this site and have it in my bookmarks for when I do end up self-managing a property:  https://www.hotspottax.com/