All Forum Posts by: Shannon Vistisen

Thank you @Evan Polaski 

That's helps. Thank you for sharing your experiences. It's easy to get caught up in the fun aspects of it and not put the "not so fun" logistics of running a STR as priority.

The Cliffs is breath taking!!!! They did such a beautiful job with that piece of property. I love that they don’t have to rely solely on Airbnb for business. But they now have given me goals to shoot for. 

I really appreciate your time and help! It’s helped out a lot and has put things into perspective. 

Have a wonderful week!

@William Arrington Terrifying. Thanks for the example. 

@William Arrington

What do you mean “pushed out from higher tax bills due to appreciation”?

The stock market correction is a scary thought especially for those already retired or looking to retire in the very near future. 

Thank you @Melody Everett-Neddo I'll put it on my calendar :) 

Can anyone join?

Can I be added to the schedule for future meet ups?

Thanks @Jaron Walling I do see it as being a side gig to an extent. It's mainly the area that I would be purchasing in. The growth of the location has only grown even before COVID. It's a drive to destination spot for the state and a lucrative vacation rental spot. When looking for the property, it would have to have the capability of renting as a LTR as well - so I have plan B for any reason that the STR doesn't pan out.

My main goal is to own property of there. Looking 15-20 years down the road, anyone that owns property in that area will win just in appreciation. I was hoping to gain quick cash flow to purchase another piece of property not to long after the first one. Even if I'm breaking even, I can see it as a win because the appreciation of the owning something in the area.

Am I viewing this incorrectly? Or seeing this through Rose colored glasses. I'm hear to learn so anything you may share, I'm all ears.

Thanks for the help!

Thank you!!! I appreciate the help.

How do you know when is the right time to make the leap? We're considering a STR. How do you know when to pull the plug and purchase your first investment? It's such a big purchase when you have a family with little ones involved.

What were some of the mistakes you made with your first time purchase or running a STR?
What would you have done differently?
Any tips to share, I would be forever grateful!

Thank you!

Good Morning!

I am new to the real estate investment market and am looking for a financial advisor and tax accountant. How would one vet out these to professions when choosing who to help with their goals?

1 - Are there certain questions I can ask to make sure they know what they're talking about?

2 - Should you stick with someone that is local to you so you can talk in person?

4 - Do I need someone that specifically works with STR or LTR ?

3 - Any personal recommendations?

I live in Metro Detroit/ Michigan - if it's key to stick to someone local.

Thank you.

@David Bond YES! This helps a lot! Thank you! My goal is to do the same (purchase 1 a year) after we have our one, get our foot in the door of real estate and figure out all our processes.

Thanks again!