All Forum Posts by: Zachary Deal

Hi Marcelo, I would recommend going to local RE events if you can (Meetup.com is a great place to find them). That is often the easiest way to connect with investors in your area!

BiggerPockets also has a section for local RE events!

If you haven't yet I would suggest looking at Furnished Finder and Zillow in the areas that you are considering in Northern VA to get a general sense of the competition. Also, if you attend some local RE meetups in the area you may be able to find some local MTR operators.

I would recommend posting in the classified sections of BP. That can be a great place to find local connections. Also, try going to local RE meetups!

It's tough to say with certainty and it a lot of success in the MTR market hinges upon operating ability, property layout, understanding your clientele and ability to adjust to the market.

This article does flag some cities that are good for MTRs: https://www.stessa.com/blog/hot-spots-medium-term-rentals/

 Makes sense! I would recommend attending local RE meet ups if possible. Meetup.com and BiggerPockets are great ways to find local events

Hi Tim, I know Proper and Steadily are common insurance choices for MTR owners. While I'm not sure specifically if they or any companies that offer Damage Protection coverage for 2 - 6 month stays, I know some people require a security deposit for longer stays (sometimes only half month) to mitigate damage risk and sometimes renters insurance as well. If you're worried about damage, I think some form of security deposit for longer stays makes sense.

It may make sense to post in the classified section of BiggerPockets as well! You will likely be able to connect with some investor focused agents in Jacksonville or directly with some sellers.

@Pat Dansdill ALE Solutions is one of the more popular sites for insurance placements.

@Kathryn Demesa Sebastian The message looks good and I think it's smart to not ask for too much in the initial message as others will have varying comfort levels with sharing insights. I would also recommend going to some local RE meetups in your area. That can be a great way to find local investors and gain valuable connections/insights 

Hi @Pat Leri I think those do seem like your best possible options. Being able to do min one week stays would be nice if that would allow the property to generate more revenue.

If the property has already appreciated a fair amount in 2 years it would be a bummer to sell now just because the rate is high. I think holding on to it for at least another year two to see if the market adjusts makes sense. If you're taking a DSCR loan you could choose an option with a lower prepayment period if you want the flexibility to refi sooner and don't mind a slightly higher rate in the meantime.