All Forum Posts by: Ryan Newsome

Bruce,

Good point! I will definitely do more research. My biggest concern would be the location is not that interesting for a “vacation” per se. But a surprising amount of “snowbirds” in our area during the winter months. We are convenient to the coast (15 minutes) but not on the water.

Ryan

Quote from @Kodie Talley:

Hi Ryan! Where are you located? My first thought is check with the city zoning laws and permitting to make sure this is possible. Even if you own the land with no HOA the city may still have regulations. If no regulations my next thought was, where do you live? I'd do some research on airbnb's in the area and see what their occupancy rates are to see if your return on investment will be worth it. Would hate for you to build out a 2 bedroom in your backyard to have zero bookings. AirDnA is a good place to do some research!

Hi Kodie,
Thank you for your input. I live in Crawfordville, FL. I’ll check out the AirDnA. In my research, I see people buying these “ADU” modular homes for investment properties similar to what I’m thinking.

Ryan

Newbie here.

I'm curious of a possible situation where I build a small 2 bedroom guest house in my back yard for a short term rental. I live on 5 acres and have plenty of space to build this rental. Would it be a good first investment property? No HOA regulations and I already own the property. So I'm thinking a home equity loan to build a very nice small rental? Any advice or suggestions for this possibility?

Thank you in advance,

Ryan

Quote from @Lawrence Briggs:

Hi @Ryan Newsome, thanks for your post! Have you tried any possible local BiggerPockets community meet ups in your area? You may visit https://www.biggerpockets.com/events for more information. 

Currently, I invest in long term rentals, but have some friends who do Short-Term and Mid-Term Rentals! 

Hi Lawrence,

I have not checked for any events yet, but will check out the link. My interest area would be around Mexico Beach, FL .  This first year of research I’ll be working on my personal finances and credit score to be ready to purchase something after that portion or preparation.

Ryan

I plan to retire from FSU as a mechanical engineer/machinist in about 6 years and want to research a potential  entrepreneurship in short term vacation rental properties. I have absolutely zero experience and just want to read and learn for now.  I’m excited and very interested in learning as much as I can at the moment. Hopefully it will spark a new passion. Looking forward to meeting new people in the process.

Thanks for letting me join the group!

Ryan