All Forum Posts by: Rachael Lucas

Quote from @Michael Baum:

There ya go @Rachael Lucas. @John Underwood and@Jonathan Sanchez said it best.

You should be able to find what you need on those sites.

What I would do (and did) is setup meetings with various cleaners. Get the bid then stay in the house yourself and setup a cleaning. Do a few extra things that they need to clean.

I dripped some bacon grease on the front of the oven door, moved some stuff around and the like.

The first cleaner missed the bacon grease but the next go it along with other stuff.

Your cleaner is the most important person on the ground for you so you want to get that right the first time.

 Love this idea! I will definitely go this route :). 

Would you agree that handy man/ woman is the second most important? Any advice on selecting one of those? 

Narrowing down my STR search, but it is looking like Holden beach is our place! It is time ti start reaching out to local folks that can help me run the place. I am wanting to manage the rental myself, so looking for leads, rec's, advice on local teams familiar with investment properties…. Cleaning service, handy people, yard care, contractors, etc. I'm appreciative of any insight. Thanks!

@Jay Hurst thank you so much for breaking this down. Does the 15% down loan have a name? How would I go about finding more info about it?

Hi all,

I'm am trying to build up my education in this area. I am a little confused on these two types of loans and if they can work together in some way, or if it needs to be one or the other. Can you start with a 10% vacation loan and refinance with a DSCR loan later on? Would that be worth the effort?

I appreciate the insight. Thanks!

Quote from @Savannah Holzer:

Hey Rachael! Coastal NC can be a great market, but it’s important to research local regulations on STRs since some areas have restrictions or require permits. I’d also recommend looking into off-season demand, as coastal markets can fluctuate. It might help to connect with local property managers who handle STRs to get a sense of what types of properties perform best. 

Would also love to help with questions/advice on financing!

Hi Savannah! That’s one of my goals for reaching out on BP, advice about those regulations and what areas to choose or avoid based on that and anything really! I am doing my research, but love all the insight!  

Quote from @Michael Kazalas:

Hi Rachael! Do you have desired cashflow % for the STR and are you going to outsource property management or self manage?

Hi Michael! I want to self manage, ideally. I would love a cash on cash return of about 20%.  I know that’s not always easy. 

Quote from @Jay Seville:

there are actually good listings for sale now that are "no brainers." They are in a variety of price ranges.  Buyer changed his plans to November after we had identified and run the numbers on some homes.

Thank you for the insight! I’m happy to connect to discuss properties you are referring to. I think I am open on exact location as long as the deal makes sense, but I also was to understand all my limitations/STR friendliness of different areas. 

Hi everyone! I've been a member for awhile, but i have not posted to date. I have one LTR and am working to make my second investment a STR in coastal NC. I am still doing some market research to narrow down my location and am therefore looking for any insight be it advice or warning, I'm open to it all. I love learning from people who have been through it :).