All Forum Posts by: Tyler Solomon

 This forum is my personal favorite follow. Packed full of questions and info, and if you can't find what you are looking for, someone will be quick to direct you, or answer your questions directly. 

Pat - congrats on getting started at such a young age, I was about your age when I caught the Real Estate bug. My best advice is to just continue networking, learning, and analyzing properties. Never be to good to learn from someone else, and put your self out there as much as possible (BP is a great start!). The best ways for people to take you seriously, no matter your age, is to be knowledgeable, humble, with clear and defined goals and plans. Take things one step at a time, RE is not a get rich quick scheme for 99.9% of people, and is an asset class that rewards patient and persistent individuals with a desire to always keep learning. Hope this helps!

Pat - while I do not personally operate a STR out there, I have spent a fair amount of time in that market and have underwritten a handful of properties in the Charleston area - happy to share my thoughts, shooting you a PM!

@Andrew Steffens Should be able to help on this one. You can also start by simply googling "STR Regulations in XYZ..."

Unless you have a rather prime location / intrinsic value in the property as a vacation destination, it may be hard to get the cash flow you are looking for without at least furnishing the property and getting 1 or 2 reviews up. Is the property centrally located to any big attractors/venues/reasons for guests to need a place to stay? 

I am no CPA, but I think uncle sam might have an issue deeming theme parks as a necessary expense of managing or operating the property. As always, consult a certified professional.

DSCR qualified on AirDNA Projections, or STR TTM actuals!

is it a tankless water heater? If not, ever any complaints with guests running out of hot water?

Even Austin got slammed the past few weeks. Had a plumber out to fix a broken pipe after the recent freeze (thankfully only one leak), and he said their phones have not stopped ringing since. Makes me wonder how many STR operators in the city faced a similar problem that your guests original operator had...

Lesson - Preparation pays 

Tanner - I spent a lot of time out in the CLT area and still do a fair amount of business out there, I would love to connect!