All Forum Posts by: Nicholas McCormick

 I agree. I did do a precursory investigation into what requirements are and it looks like there might be some zoning restrictions, as well as permits required. I was hoping someone might have some experience in this market to know how challenging the process would be to obtain the permit.

Thanks for your input!

Nick

 I used All the Rooms to get some general data. Overall, it sounds like 21% occupancy rate at about $200 per night. Not the greatest occupancy rate, especially when compared with somewhere like the Smokies. However, I am thinking of having my parents who are retired living there part of the year and doing STR for the remainder of the time. It might not be the greatest return ever, but it would allow for some revenue to come in when it is vacant.

Thanks for your input!

Nick

Howdy-

Does anyone have any experience with short term rentals in the Bloomington, Indiana area? I'm specifically looking at a property on Lake Monroe. I'm wondering about any potential regulations that might make this a more difficult process than I'm anticipating. 

Thanks!

Nick

@Evan Coopersmith Are you available tomorrow at 7:00 am your time? Otherwise, I can take a look at the rest of this week. Thanks!

Hi Evan, I live down in Indy and would be happy to connect and chat about the area. I know of a couple of good PM's if you need them and can give you a general idea of the best areas to invest in. 

Hi Evan, I live down in Indy and would be happy to connect and chat about the area. I know of a couple of good PM's if you need them and can give you a general idea of the best areas to invest in. 

Hi all-

I am considering purchasing a property that checks all the boxes and the numbers look good. However, it has a potential issue that I was hoping to get some advice on. This is an older home with unconventional dimensions. Specifically, the stairs that go to the second floor have very little clearance at the bottom, leading to a tenant potentially hitting their head. When I asked the agent if it would be possible to notch out the area to improve clearance, she noted that there might be a structural beam there that would prohibit that option. Would you be concerned with this if you were the investor? Are there any alternatives you can think of to creating better clearance? Would it be sufficient to point this out to potential tenants when they are touring the property?

Thanks for any guidance in advance!