New and too Green

Member since 2026 · 8 posts · 5 votes

Hey everyone. I'm brand new to getting my feet wet in real estate. I am kind of working backwards and I figured this is a good place to help me figure out as I go.

Basically, I was walking my dogs and walked past a house that recently went up for sale. I thought. "This is perfect for a STR!". So i hmmmd and haaah'd for a few days. Then i've spent the last 6 weeks getting a HELOC to pay for the downpayment on this house. I close on Monday.

Over the last 2 weeks, i've been trying to cram information by listening to podcasts. And Bigger Pockets (Im on episode 10) told me to just post on the forum. Get your foot in the door. So here i am.

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Jules Aton

MD/DC · Member since 2024 · 1k+ posts · 1k+ votes

Hi and welcome! Check out the STR section here. There are lots of smart folks who are generous with their insight.

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Jules Aton
MD/DC · Member since 2024 · 1k+ posts · 1k+ votes
4d
Hi and welcome! Check out the STR section here. There are lots of smart folks who are generous with their insight.
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Diana Khan
Attorney · 10451 Mill Run Cir #755 Owings Mills, MD 21117 · Member since 2024 · 300 posts · 112 votes
4d
Quote from @Crystal Crow:
Hey everyone. I'm brand new to getting my feet wet in real estate. I am kind of working backwards and I figured this is a good place to help me figure out as I go.
Basically, I was walking my dogs and walked past a house that recently went up for sale. I thought. "This is perfect for a STR!". So i hmmmd and haaah'd for a few days. Then i've spent the last 6 weeks getting a HELOC to pay for the downpayment on this house. I close on Monday.
Over the last 2 weeks, i've been trying to cram information by listening to podcasts. And Bigger Pockets (Im on episode 10) told me to just post on the forum. Get your foot in the door. So here i am.
Welcome to BP, @Crystal Crow! I’ve worked with a lot of first-time investors who felt exactly like this. Once the property is under contract, everything suddenly feels very real and there are a hundred things you think you should already know.
Since you're closing Monday, I would keep it simple for now. I'd make sure you understand the local STR rules, your insurance is set up correctly, and you have a plan for cleaning, maintenance, and anything that comes up when you are not there. You do not have to figure out your whole investing future before closing on your first property.
I’d be glad to stay connected and follow along as you get started. Your first deal will teach you a lot, and you’re already doing the right thing by asking questions and getting around other investors.
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- Crystal Crow
  OP
  Member since 2026 · 8 posts · 5 votes
  2d
  Thank you. Maybe i'll try to update as i go. I habe a plan in my head for cleaning and maintenance, but you're right, i need to write it down.
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Igor Ganapolsky
Englewood, NJ · Member since 2018 · 355 posts · 60 votes
4d
Crystal, welcome. The fact that you're posting here before closing shows you know what you don't know, and that puts you ahead of most first-time investors.

Diana gave you solid advice on the operational side. I want to add one thing on the financial side since you're using a HELOC for the down payment. A HELOC puts your primary residence on the line, so you need to be very clear on how quickly this property needs to cash flow to cover that HELOC payment plus everything else.

Before Monday, sit down and run the numbers for both scenarios: STR income versus a plain long-term rental. Most new STR investors assume they'll get 70-80% occupancy from day one, but the reality in most markets is closer to 50-60% for the first year while you build reviews and get your listing ranked. During those slow months, you're still making the HELOC payment, property taxes, insurance, utilities, internet, cleaning, and maintenance.

Also factor in furnishing costs. A nicely furnished STR can easily run $5K-$15K depending on the size and how you outfit it. That's money on top of your down payment that doesn't come back to you right away.

I invest in tax deed auctions in Florida, which is a very different entry point, but the discipline is the same: know your numbers cold before you commit capital. The property you walked past might be a great deal, or the numbers might work better as a long-term rental while you learn the STR game. Either way, having both scenarios mapped out before you close gives you options instead of pressure.

Good luck on Monday. Come back and let us know how it goes.
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- Crystal Crow
  OP
  Member since 2026 · 8 posts · 5 votes
  2d
  Thank you very much. I planned the numbers with the HELOC. I can make all the payments with my income, but i need to tighten my belt to do so. I habe been finding deals on marketplace for some of my furniture.
  And i am keeping my fingers crossed that i at least get 50% occupancy. Im expecting less... but im trying to think of things i can add to the house (games, welcome package, comfy beds, etc) to grab a bit more attention.
  I have also told myself, in 6 months, if i need, i can go with a long term rental.
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Brad SeidBusiness Member
Lender · Licensed in 28 States · Member since 2026 · 119 posts · 30 votes
3d
@Crystal Crow Congrats on taking the leap! That first deal is exciting. If you ever need help with financing for your next investment or want to explore lending options for future STRs, feel free to reach out. Happy to help however I can!
[email protected]248-408-3855
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