All Forum Posts by: Shannon Vistisen

Yes. The LLC only holds the raw land and it's completely paid for. There's no current loan on it right now.

@Brady Morgan You are a life saver!!! Bookmarking your youtube channel as soon as you share it :)

Good Morning,

I'm working with an investor (family) who owns raw land within an LLC. We were going to partner together on it where I build and run a STR on it. Now, moving forward he offered for us to take it over completely. I want to know is it more cost effective or easier to purchase the property alone and put it in a mortgage in our name or purchase the LLC from him that holds the property within it.

Any information is greatly appreciated! This is uncharted territory for both of us.

Thank you!

Good Morning,

I'm working with an investor (family) who owns raw land within an LLC. We were going to partner together on it where I build and run a STR on it. Now, moving forward he offered for us to take it over completely. I want to know is it more cost effective or easier to purchase the property alone and put it in a mortgage in our name or purchase the LLC from him that holds the property within it.

Any information is greatly appreciated! This is uncharted territory for both of us.

Thank you!

@Jeremy Werden Hi Jeremy, I have a question regarding BNB Calc data vs. Airdna data. I'm using both to figure out the potential revenue for our property with comparing the listings that surround it. When I compare the listings on both sites, the Revenue is drastically different.

Example: The one listing on BNB Calc says the revenue was $157K where on Airdna is says the Revenue was $17.5K. Does BNB Calc show the lifetime of the properties revenue or is it an estimate of what it could make or is it showing the last 12 months of revenue?

Thanks for the insight!

@Melissa Nash Would you be able to send my the PDF as well? We are in the middle of starting our STR and would love all and any information I can get my hands on. Thank you.

I've heard and researched the DSCR loan as an option. I've also spoke with a lender (one lender so far) and they mentioned that some rules have changed and we might not be able to go that route.

We are currently using the help of an investor within the deal to get it built. Our plan is to then move the build into our name and pull out the equity within the property to put towards paying off our investor. I wanted to see if first, if this is possible, or how hard is it to go down this route. I also was trying to figure out an estimate from what the build cost to how much it could potentially be worth once built and completed.

We won’t need a loan mid way through. We will need one after the build. I’m looking into other ways to finance it as an investment. 

Thank you for the advice!

Good Morning,
I'm looking for some insight on new construction builds. We currently are building a SF with the financial help of a family member. This is for a long-term hold, STR concept. No bank involved just yet.

After we build the structure, is there an general estimate of how much the property/house will appraise for when said and done?

I've researched that some individuals will build, put the build in a 30-year mortgage with a bank, pull out the equity and repeat the process in another build.

First, has anyone here heard about others moving on this process?
Does anyone have experience in this process that they can shed some light on how to go about this.
If you have experience in this, what are the cons/pros about doing a deal like this?

I know a lot of variables have to be taken into account. We are in a highly sought after vacation spot that is growing.

Thank you for any advice you can share!

Hi Melody,

it was a company that our developer works with. He said he uses them for all of his land developments. I’ll see if I can get the name of the company. 😊