New and too Green

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New and too Green

Crystal Crow
Investor · Claremore, OK · Member since 2026 · 15 posts · 10 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
2w

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
    2w

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

    1Reply
  • Diana KhanPro Member
    Attorney · 10451 Mill Run Cir #755 Owings Mills, MD 21117 · Member since 2024 · 403 posts · 162 votes
    2w
    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.

    [email protected]240-266-0291
    1Reply
    • Crystal Crow
      OP
      Investor · Claremore, OK · Member since 2026 · 15 posts · 10 votes
      1w

      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.

      0Reply
  • Igor Ganapolsky
    Coral Springs, FL · Member since 2018 · 468 posts · 98 votes
    2w

    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.

    1Reply
    • Crystal Crow
      OP
      Investor · Claremore, OK · Member since 2026 · 15 posts · 10 votes
      1w

      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.

      0Reply
  • Brad SeidBusiness Member
    Lender · Licensed in 28 States · Member since 2026 · 142 posts · 40 votes
    2w

    @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
    West Capital Lending5128 Reviews
    WebsiteView Page
    1Reply
  • Melissa HaworthBusiness Member
    Real Estate Agent · The Panhandle | The Emerald Coast | Panama City Beach | Destin · Member since 2017 · 257 posts · 101 votes
    1w

    Welcome, Crystal! We all start somewhere, and taking action is often the hardest part.

    Since you close Monday, I would focus first on confirming that the property can legally operate as a short term rental, including any city, county, HOA, licensing, and insurance requirements. Then build a conservative projection using truly comparable rentals, realistic seasonal occupancy, and every operating expense.

    Because the down payment is coming from a HELOC, I would also stress test the numbers. Make sure you can comfortably carry both obligations if bookings take longer to build or revenue comes in below projections.

    From there, start building your local team: cleaner, maintenance contact, photographer, insurance agent, and either a property manager or a clear self management system. You do not have to learn everything at once, but those pieces will give you a much stronger foundation.

    Congratulations on taking the leap, and keep asking questions here. There are a lot of experienced investors willing to help including me!

    [email protected]469-658-2869
    1Reply
    • Crystal Crow
      OP
      Investor · Claremore, OK · Member since 2026 · 15 posts · 10 votes
      1w

      Melissa,

      Thank you. Its nice to have a list of where to start, that i can just go down and check off. So i appreciate this very much.

      I found out before closing on the HELOC, that I needed to check woth the city and county, so luckily I did that before I closed. I wish i would have gotten on this forum weeks ago, but I am glad I am here now.

      0Reply
  • Dmitriy Fomichenko
    Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    1w

    Welcome to BP community @Crystal Crow ! It is a great place to meet new friends and learn about various aspects of real estate and more.

    Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts

    Best of luck investing!

    1Reply
  • John Leland
    Specialist · I give advice - [email protected] - I focus on states where investing is profitable, reasonably safe & secure · Member since 2026 · 54 posts · 11 votes
    1w
    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.

    Have you checked to see ifthere is an audience for the STR?

    0Reply
  • Michael AzzamBusiness Member
    Real Estate Agent · Cleveland, OH · Member since 2020 · 24 posts · 19 votes
    1w

    Crystal, congrats on taking the leap — sometimes the first deal starts exactly like this.

    Since you're already closing Monday, I'd focus less on consuming more content and more on validating the fundamentals: realistic STR demand, seasonality, local regulations, cleaning/management costs, and what the property looks like as a long-term rental fallback if STR performance comes in below expectations.

    That backup plan is huge. If the numbers work both ways, you’ve got a much stronger first deal.

    [email protected]216-446-7606
    The Azzam Group4.8191 Reviews
    WebsiteView Page
    1Reply
    • Crystal Crow
      OP
      Investor · Claremore, OK · Member since 2026 · 15 posts · 10 votes
      6d

      Thank you, michael. I am trying to listen to the podcasts for nuggets of bnb set ups and tax stuff.

      I will fall back in LTR if i need. I need to decide how long i can handle a failing STR before i switch to LTR. But its super near a lake, which makes it more seasonal. So i have to talk up the off season benefits in the description. 😅

      1Reply
  • Travis Goodwin
    Wholesaler · Charleston WV · Member since 2026 · 234 posts · 126 votes
    4d

    Hey Crystal, sounds like you understand how to spot an opportunity. I think that that's the biggest start.

    0Reply
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