All Forum Posts by: Alex Larcheveque

 It's usually the counties/cities that have Airbnb laws, not the state. 

Yes, do this! If you have an idea of what your cash buyers are looking for (ex: buyer only wants 3bed/2bath), you can narrow down your prospecting list to properties that meet this exact criteria. It'll save you marketing dollars, and you'll have a guaranteed buyer once you close a wholesale deal. Good luck!

Look at local zoning laws and restrictions. In my area, you're allowed an ADU and a JADU, which can both be rented out. Good luck!

The question is pretty general, but here's my advice:

Look at cities that have large attractions (national parks, vacation destination, etc.), type an active MLS listing address into Airdna.co, and you can see an estimated amount of what the property could make. If you purchase a pro account for Airdna.co, you can also see seasonality, and choose properties that have strong demand year-round.

Lastly, for choosing a property states don't matter as much as choosing the correct city.

Yeah, your process is good to move quickly on a deal. In this market, properties are sitting on the market for longer, so speed isn't as stressed as it used to be.

Either way though, your bottleneck for speed of submitting an offer will be on the agent, not you. Paperwork takes time. Analyzing a property shouldn't take more than 2-3 hours max, unless it's a flip or something a little more involved.

Looks quaint! Nice work!

I have a few friends my age that believe in renting only. For them, it's damage control. 

If they were to ever run into financial trouble, they don't have to worry about recurring costs of having a mortgage, insurance, taxes, etc. They would break the lease and walk scotch-free.

@Chris Ha Yeah, it's pretty shady. DealMachine uses the same tactics as well.

What software do you use?

Become a master at the Bigger Pockets calculators. Use both the "BRRR" and "Rental Property" ones, you'll get to know which deals are good/bad investments.

Do the invasive inspection if you can. Get a good grasp at what you're dealing with, because flooding can do its damage and be an expensive fix. 

Either way, if this house does have flood damage, make sure to negotiate HEAVILY or even consider backing out of the deal. 

FYI: Depending on the loan you have, if you have flood damage, lenders won't loan money on the home (make sure you double check this). Good luck!