All Forum Posts by: Nick Cancilla

@Cam Hadfield @Mason Hickman

Mason, thanks for the reply. You were on my list of Agents to contact in the area.
Cam, thank you. Any contractors, handymen, cleaning connections would be a huge help. 

We're looking to invest in a solid STR market as well as somewhere we'd like to vacation. Cape Cod checked all of our boxes. We've primarily been looking in Upper/Mid Cape, researching what each area has to offer. Lower Cape seems to be a bit out of our price range.

I've been watching the market and have been amazed at how quickly homes are bought up out there. Long distance vetting of the properties is not as stressful as I thought it would be. With the use of a great RE agent and relying on local expertise, county records, quoting insurance, and running the numbers, etc. - I'm fairly confident that we can find good deals without seeing the property in person. (We did the same with our current home). 

Our basic criteria:

-2 bed/1 bath.

-Move-in ready or slight reno. Willing to bump the reno budget depending on potential return.

-Cash-on-cash = 20%

 
Any thoughts? We're still learning and diving into self-study as much as possible so I'm sure our goals and expectations will change as we fine tune our process. 

Hey BP, I'm a newbie investor looking to get into the STR space. My Wife and I live in California and are looking to buy an investment property in the Cape Cod region. We bought our 2nd home in Jan. 2021 (flipped our 1st home), renovated ourselves, and recently completed a cash-out refi in December. We're looking to take that cash and reinvest it into a STR.

After listening to the BP podcast and reading books on RE investing for the last year, we're finally ready to take action. That being said, any advise or connections would be greatly appreciated! 

Our Budget/Goals: 

~400k purchase price. 10% down with vacation/2nd home loan preferably.

~10-12k for reno/furnish.

~Self manage, coordinate with local contractor. 

~Set up local network for maintenance and upkeep of home. 

~Go live with the rental in time for Spring/Summer seasons. 

Looking for to hearing from the BP community and learning from everyone! Thanks for the help.