All Forum Posts by: Scott Weston

 yea general threshold is 5-7% unlevered and 10% with debt in place. 

Yea quick caveat - i'm already pretty invested in New Orleans market and am seeking to balance out the insurange/environmental risk i'm facing.  

Have access to a healthy amount of capital and I'm looking for larger scale, high end short term rentals that make sense.  Thinking in the $2MM-$3MM range.

What are some of the best destinations with sufficient rental demand to justify a relatively larger acquisition?  

UPDATE: buyer couldn't get out of sale.  I missed out on my river house.  

so if it falls in my favor i will definitely be buying title insurance! 

Yes - I don't have their contract so i'm just going off what this other agent says.  

@Jonathan Greene - that's how its generally done in my market, too.  They have lawyers figuring it out so i'm just an innocent bystander here.  Fine with either situation.  I'm buying with cash and not doing an inspection - and understand/am prepared for the risks that come with it.  this is a great property that really works for our rental program and for our own use.  So its worth a little more for me.  I'm an active commercial agent, MAI appraiser, and investor.  So I understand what i'm getting into.  

Ok interesting question. There is a property I am trying to buy out of town (2nd home). It was under contract when I found it - but the realtor reached out to me to tell me that the seller had refused a repair request from the first buyer. This agents position is that the request for repair is essentially a new contract and gave the seller an out to accept my more attractive offer. Original buyer has brought in an attorney to see if the seller actually has the right to do so (as opposed to simply saying no to the repair request and moving forward with the original terms of the agreement). Anyone have any experience with this?