All Forum Posts by: Tracy Hoggard

Short Term Rentals: Is a subscription to AirDNA worth it in evaluating NOI quickly? If not, how do you analyze quickly? We are looking in multiple markets and analyzation seems tedious. Thanks!

We are looking for a template that we can use to speak investors to 1) exhibit professionalism 2) explain our investment experience and 3) show mission/vision/market/etc.  What do you use?  Are there some free templates somewhere?  This is not for a specific project but to build an investor base.  Thanks!

Thank you for your response! We are looking at Albany, GA. I am a Realtor so I can evaluate value the traditional way, however, I was looking to focus more on the CAP Rate...so I'll look for other investors or the property manager is a great option as we would hire one anyway! I understand these equations but they aren't second nature by any stretch. I will keep them on my phone notes!

And, regarding financing.  I have no idea how we will finance yet.  I'm learning to say YES until No is the better answer.  Once we decide the best price, I'm sure I can find someone who would like to invest/partner.  I just don't know who that is yet-or how but I'll figure it out.  I'm open to any insights or advice on what it would look like to partner with someone.

We do have another 16 property portfolio that is very similar that we purchased in 2020.  It was seller financed with very little down so we could do that one on our own.  

Leverage is a key theme here.  The book "WHO NOT HOW" is a great book for that.  I recently went to a Jason Drees Coaching Event and that was LIFE changing for me.  It was really the first step in improving my mindset, which opened my mind up to the excitement about scaling and leverage...and saying YES to so much more. (I used to say no A LOT!)  Even today I have caught myself getting ready to do things that I have hired leverage to do.  I didn't do it and let them do what they are hired to do!

We have an opportunity to purchase a portfolio of about 30 doors (22 SFH/Duplexes). How do I determine the desired CAP RATE/Price?

I have rental amounts (about 15% below market), all are on 1 years leases with auto renew and 5% rent increase (100% occupancy).  15 roofs are new and the rest are less than 10 years.  Older properties (1950-1960s).  I have rents, taxes, insurance and their maintenance costs.  It is out of state and I am not familiar with it, however, I have talked with a local agent that has lived there all of her life. The area is smaller but has had consistent growth over time with military logistics and several large employers along with a Hospital (sorry if that is too much detail).  Some crime but not terrible. 

We are new to this type of investment so not sure how to determine the right price.  

(Then...we'll find investment partners...and figure that out too!)

Thank you!