All Forum Posts by: Avery Heilbron

@Rishika Garimella Both are great markets. I wouldn't limit to one or the other. They both have their very different areas. I own a few long term rentals in the area and would be happy to chat

@Austin McDonald This is how a lot of people get their start. Check out meetup.com or the events page here and start networking. You may get ~5% equity for handling the "crappy" parts of the biz for an investor.

To win the STR game, especially if you're a new entrant, the most important aspects are

1) Amenities

2) Location

3) Property type

4) Uniqueness

All are geared toward you standing out on Airbnb/VRBO

Hot tubs, fire pit, bowling alley, pools etc. or being in the best location in an area as well as being to host a large group are all things to help you win. The process and management will take you 1-5 youtube videos to learn about. The big issue is people just buy a 3bed2bath and put okay furniture in it and expect to cash flow $5000/month. It won't happen.

These course gurus are good at what they do, but they will most likely give you these tips which are expensive to set up. Building a sport court will run like $30 grand, but would increase your rental value. 

a 6bedroom 4 bath house with a sport court, hot tub, fire pit, mini golf, arcade etc. will most likely crush it because it's cool. But that's expensive.

Co-hosting is an easy start in airbnb. I do some of that and own some too, but I always prefer my long term rentals. Way less work.

@Salvador Cornejo I love section 8. My first ever tenants were (and still are) section 8. First of the month direct deposit from the govt is nice to get. Also easy to raise rent since it's a little to no impact to the tenants. As far as low credit I've had fantastic tenants with 510 credit scores. Meet with them and see their current housing if you want a real feel. Call their references as well.

Hi @Ahmed Tazi I'll send you a PM with some recommendations

I get a lot of folks who reach out about buying in NC 

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $678,000
Cash invested: $50,000

Househack near the city of Boston. Lived in one of the units for a year and then moved out. Have done a solid amount of renovations to add more equity on top of market appreciation. I have a super low FHA loan interest rate which may be hard to refinance even with the $500/month of PMI

What made you interested in investing in this type of deal?

Financial Freedom

How did you find this deal and how did you negotiate it?

On market during March 2020. Many people were scared so it left opportunity to purchase something as an FHA buyer

How did you finance this deal?

FHA loan

How did you add value to the deal?

DIY in my own unit, other cosmetic renovations in other units, some electrical upgrades too

What was the outcome?

Lots of equity and solid cash flow

Lessons learned? Challenges?

Inspection usually miss issues ( there was a leaking pipe and I renovated a bathroom because of it)

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes! I love the agent and lender I use in Boston. I myself am an agent down in NC but will always recommend those 2. PM me for details

Hi @Jay Whang each area has its positives and negatives whether it be equity vs cash flow, areas that are easier to find tenants, tenant quality etc. . I'd be happy to chat further about the areas around the triangle. I'll send you a PM

Join NC off market properties on FB

Hi @Vishakha Penney send me a PM and I can forward you a contact