All Forum Posts by: Raif Harris

I have a question for the wholesalers out there. If you technically have a property under contract during a wholesale deal, why can't you use a 1031 exchange and put your profits right into another property without paying taxes on it?

Agreed, I could look at other markets. I visited Boise Idaho last year and just got back from Kansas City, both of which seem like great markets. Because this would be my first deal, I guess I feel like I should know what I'm doing before investing in markets that are a plane ride away. 

The STR market seems stable in Vermont, I've stayed in Airbnbs there myself. I'd agree that the biggest danger to this market is global warming.

Thank you for all the action on this post! Much appreciated. 

I'll keep the community posted as I go.

@Mark Miles, thanks for the info on southern vs northern investment. I'm know overall the northeast is probably the worst place in the US to invest. Especially at a macro level, people aren't moving to New England, they are moving out. Especially in Connecticut, a state in 1 Billion dollars of debt, it's hard to imagine companies being excited about moving into the area. The job market doesn't seem like it's going to grow. As a result, a mixture of high taxes and decreasing job prospects are making rental properties less profitable and more risky, never a great combination. 

But, I live in CT. My best options, along with other CT investors, might be Vermont and/or New Hampshire, especially when investing with the understanding that appreciation is not expected. Ie, invest in cash flow positive properties. 

Thanks for the response. If I start looking at New Hampshire I'll let you know.

I am definitely open to other asset classes. I'd love to talk about the Airbnb business and see if investing in Southern VT is right for me. 

I am a new investor with some capital. I'm looking to close a deal this summer. I have been looking at rental properties in Connecticut (where I live), but I was thinking I might be able to get more cash flow with an Airbnb.

I have seen these small cabins in southern Vermont on Airbnb. They are usually marketed as a "scenic getaway" or "tiny house retreat." It seems these can be constructed fairly easily for around 6-8K. They are getting booked for around $75-100 per night in southern Vermont with proximity to ski resorts and lakes. After doing the math it seems like I'm not getting something. This seems too good to be true.

My questions:

1) Is it true that these "small cabin getaways" can charge $100 a night?

2) What is a probable occupancy rate in this market? Is there a place to see Airbnb occupancy data?

I'd love to hear from anyone in the Airbnb business especially those investing in smaller Cabins in outdoorsy places. Input from Vermont investors would also be very helpful!

I recently graduated from high school, at my graduation party I was humbled with many gifts, one of which was a $200 amazon gift card. As I was about to spend the money on clothes or other useless things, I realized this was an opportunity to invest in myself. I bought 6 books instead. 

1. Rich Dad Poor Dad

2. Buy, Rehab, Rent, Refinance, Repeat

3. Financial Freedom with Real Estate Investing

4. The book on investing in Real Estate with NO MONEY DOWN

5. Am I being too Subtle

6. Think and Grow Rich

I thought a good way to introduce myself to the Bigger Pockets community would be to write chapter summaries on BRRRR as I am about to start that one. I just finished Rich Dad Poor Dad, obviously changed my life, but I already kinda knew what it was about just because I am an avid listener of the podcast! LOL