All Forum Posts by: Ray Pope

Quote from @Nicole Balsamo:

Check out data.rabbu -- they have an address estimator and also market data all for free. Will get you exactly what you're looking for!

I will absolutely do that, thank you!  

Quote from @Kathie Russell:

Before I go live with any STR, or before I even complete and STR, I first go to both airbnb and vrbo and target the map to the area near the home.  I look at every listing and the photos, amenities, location, compare size and beds/baths, and look at their calendar to see nightly pricing and occupancy rate.  After that i go to both rabuu and airdna and thoroughly research the property and the area.  I make a spreadsheet and combine all the data and with that i determine if the property would be good for STR and if so, pricing and etc.

 Very helpful, thank you!

Quote from @Brooklyn McCarty:

You’re doing the right thing. Keep checking Airbnb and VRBO. Airdna may be helpful too 

Will do, thanks!!

Calling all beach house rental owners! Bonus for owners in Oak Island NC. I'm trying to get an idea of average nightly rate cast over the year as well as a realistic occupancy rate. From researching myself on Airbnb, I'm struggling to get an idea of what that nightly rate looks like spread throughout the busy season and the slow season. Any help appreciated! This will be my family's first STR and first rental in general.

Thanks so much for the input guys!

Caleb, I'm planning on using the HELOC only for short term because I want to BRRRR properties. So a refinance will be paying the HELOC back and I will use it again and again until my own funds are great enough to use. I really appreciate your input!

I've spent the last year or so learning as much as possible about real estate investing and I'm ready to dive into buy and hold. The point I'm at now is shopping for the best HELOC I can find. I believe I have about 75-100k in equity in my home. I want to have the most buying power I can have possible. Now, my fathers house is payed for and probably would appraise for about 180-200k. He has a 40k dollar equity line from years ago that he as already offered to me to use for my real estate ambitions. I can imagine the higher possibilities for me if I take him up on his offer or have him renew his HELOC with the new equity he has. My problem is, I don't want to use his money and not include him in the profits, plus it would help provide him with a way more enjoyable retirement. At the same time, I've always like to do things on my own, without the lending hand of others if at all possible. If I do decide to partner with my dad, using the equity he has in his home to purchase rental properties and build my real estate business, how does that work? He really isn't interested in being involved, therefore offering the money to me without pursuing any gain on his end. I feel he should reap the rewards of his investment, but I don't know a fair way to compensate him in the event I take him up on his offer. Should I even consider the partnership, or just do it all on my own?

One more question: You guys speak of an 80% LTV, is 80% a common percentage, or standard, or are we in a position to refinance at any other percentage, such as 100% or 60% etc….?

You, sir, are the man! Thanks so much for taking the time to explain this to me. I can get myself so confused when working with numbers sometimes. 

Thanks so much for the help folks! I wasn't getting it because I wasn't realizing the BRRRR strategy pertains to deals you paid for with your own cash. It's so awesome how helpful everyone is on BP.