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All Forum Posts by: Sonia N.

Sonia N. has started 0 posts and replied 42 times.

Post: Section 8 Investment

Sonia N.
Pro Member
Posted
  • Rental Property Investor
  • Boston, MA
  • Posts 44
  • Votes 38

@Aruna Abdool - unlike all the Columbus Reafco agents here who say it’s great in Columbus (and you’ll see their responses are exactly the same to every single post about Columbus), it’s a really long process to get your Section 8 rent increased. We’ve requested one since October last year and the only response we’ve gotten is “we’re working on it.”

Post: Looking to buy my first time short term rental

Sonia N.
Pro Member
Posted
  • Rental Property Investor
  • Boston, MA
  • Posts 44
  • Votes 38
Quote from @Melissa Silk:

@Sonia N. - no push back what so ever. It's one of those areas that have been doing STRs for decades, so I can't imagine anything changing. Of course, the town gets their share with the mandatory purchase of an annual business permit ($500 for first year, and around $250 per year after).


 Thanks and good to know.  Of course the town wants their cut too. 😉

Post: Looking to buy my first time short term rental

Sonia N.
Pro Member
Posted
  • Rental Property Investor
  • Boston, MA
  • Posts 44
  • Votes 38
Quote from @Melissa Silk:

Hey Joe,

I'm also from MA, but live in southern ME now. I just closed on my first STR in Old Orchard Beach in November. I've spent quite a lot of time researching areas in ME & NH, and would be happy to connect and share everything I know. BTW, we're doing great with the OOB property - summer is at 68% occupancy after just being listed 6 days ago!

Remember, the best time to buy real estate was yesterday. The second best time is today!

 @Melissa Silk - Love Old Orchard Beach! Curious if the STR regulations are heavy and frequently changing there? I'm out of Boston and we'd been thinking about the White mountains a while back, specifically North Conway but have heard that they'd been pushing back on STRs as of late.

Post: Mid Term Rentals in Columbus

Sonia N.
Pro Member
Posted
  • Rental Property Investor
  • Boston, MA
  • Posts 44
  • Votes 38
Quote from @Conner Olsen:
Quote from @Shyd Coloma:

Hi Columbus investors. Anyone in the group running their properties as fully furnished mid-term rentals (outside of traveling nurse programs)? I recently received an inquiry about one of my properties from summer interns working for JPMorgan Chase and it got me thinking about what other traveling professionals outside of the healthcare industry are out there that we could market our property to. I’d love to connect with somone whose done this strategy for awhile and see how they run and advertise their mid-term rentals.


My MTR gets more per month Airbnb than FF (even after fees) and books quicker. The market for MTR is way bigger than traveling nurses. 


 Hey Connor - This is for your Columbus properties?  What other listing sources are you using (other than Furnished Finders) if you don't mind sharing?

Post: Mid Term Rentals in Columbus

Sonia N.
Pro Member
Posted
  • Rental Property Investor
  • Boston, MA
  • Posts 44
  • Votes 38
Quote from @Simon Ashbaugh:
Quote from @Sonia N.:
Quote from @Simon Ashbaugh:
Quote from @Sonia N.:

Hi Shyd - Just curious if you ended up doing the MTR in Columbus?  Currently wondering the same and would love to see how that went if you took the plunge. 


 Columbus can be good for mid terms, especially if you get next to a hospital. Maybe consider checking out Cleveland. MTRs can do very well up there because the have some of the best hospitals in the world


 Agreed.  We're located 1/2 mile from Nationwide Children's Hospital so all the more curiosity on how people are faring in the furnished MTR space.  We're currently only on AirBnb and Vrbo but seriously considering longer stays to get more occupancy.


 If its a double you could always try with on unit just to see!


Funny you mention that. This one in Columbus is a SFH but I'm doing that for a duplex in Huntsville currently!

Post: Mid Term Rentals in Columbus

Sonia N.
Pro Member
Posted
  • Rental Property Investor
  • Boston, MA
  • Posts 44
  • Votes 38
Quote from @Simon Ashbaugh:
Quote from @Sonia N.:

Hi Shyd - Just curious if you ended up doing the MTR in Columbus?  Currently wondering the same and would love to see how that went if you took the plunge. 


 Columbus can be good for mid terms, especially if you get next to a hospital. Maybe consider checking out Cleveland. MTRs can do very well up there because the have some of the best hospitals in the world


 Agreed.  We're located 1/2 mile from Nationwide Children's Hospital so all the more curiosity on how people are faring in the furnished MTR space.  We're currently only on AirBnb and Vrbo but seriously considering longer stays to get more occupancy.

Post: Mid Term Rentals in Columbus

Sonia N.
Pro Member
Posted
  • Rental Property Investor
  • Boston, MA
  • Posts 44
  • Votes 38

Hi Shyd - Just curious if you ended up doing the MTR in Columbus?  Currently wondering the same and would love to see how that went if you took the plunge. 

Post: Looking for leads on lesser known markets or sub markets for decent CF/appreciation

Sonia N.
Pro Member
Posted
  • Rental Property Investor
  • Boston, MA
  • Posts 44
  • Votes 38
Quote from @Chris Mignone:
Quote from @Anton Tikhomirov:
Quote from @Sonia N.:

Hi Anton,

I'm also from MA and invest OOO in Columbus, OH and Huntsville, AL.  Between the 2, Huntsville is actually a better option IMO if you're interested in tertiary markets in any southern states.  Best of luck!

Hi, thanks for the suggestion! May I ask why Huntsville? 

 Huntsville is an outstanding market. Booming economy and population growth. It overtook Birmingham as the largest city in the state much quicker than it was projected to do so. I've been investing there since 2021 and have been very happy with the trajectory of the market! Low taxes, landlord friendly laws, etc.

 I’m with Chris on this one. they have a booming economy both in the public and private sectors (tech, aerospace engineering,  defense and adv manufacturing), great price to rent ratios, population growth and a hot rental market along with low taxes in a landlord friendly state.  

@Anton Tikhomirovundefined

Post: Looking for leads on lesser known markets or sub markets for decent CF/appreciation

Sonia N.
Pro Member
Posted
  • Rental Property Investor
  • Boston, MA
  • Posts 44
  • Votes 38

Hi Anton,

I'm also from MA and invest OOO in Columbus, OH and Huntsville, AL.  Between the 2, Huntsville is actually a better option IMO if you're interested in tertiary markets in any southern states.  Best of luck!

Post: Taking the pulse of recent appraisals vs. actual closing costs

Sonia N.
Pro Member
Posted
  • Rental Property Investor
  • Boston, MA
  • Posts 44
  • Votes 38

Out of the 7 SFR properties we purchased last year in Huntsville, only 1 came in about $8,000 lower and I think it was actually undervalued but it gave us ammunition to go back to the seller to renegotiate. We ended up splitting it so the price came down $4,000. 6 months in, valuation is $30k higher than our sale price.