All Forum Posts by: Tyler Solomon

Ivan, that certainly seems high. As @Jon Kelly mentioned, 700 is more in line with the market.

Have any questions about financing solutions for STR's? Please drop a question and I will be happy to answer, or point you in the direction of someone who can! Would be great to turn this into a useful thread for folks on this sub forum to go back and reference as we get a lot of repeat questions on here.

The Smokies have been one of our hottest destinations for our clients over the last few months - happy to help where I can!  @Leslie Anne Morris is great for that region as well, definitely hit her up!

Angel Fire is a great tourist spot - have underwrote a few properties out there that cashflow nicely.

Turning into a bit of an echochamber here - but never rely on appreciation - cashflow is KING!

Increased maintenance, reliant upon reviews, inconsistent occupancy, subject to changing regulations

Pulling money out of a property is generally useful, as long as the new mortgage payment won't put you underwater

Matt - happy to answer any of your financing related questions for short term rentals! I grew up vacationing in the Orlando area and have family out there now!

The sub 3 rate is hard to lose. With your plan to build a portfolio of STR's, i think it comes down to, how much cash do you have outside of the equity in the property. Assuming you have a renter in the property, as you stated, you cash flow both currently, and if you were to cash out refinance it. IF you have enough liquid between your savings, and the cash out proceeds to go acquire your next desirable STR, I think the ability to hold onto an income producing asset and grow your portfolio is the strongest move.

What does a typical spread, % wise, on a healthy long term rental look like between gross annual income, and net operating income? In other words, what is a typical/ decent/ acceptable margin between your annual rents collected and your total year end profit on a long term rental property? Assume there is no property management company in place. 

What are other good rules of thumb you have picked up or heard  for long term rental investing?

Thanks!