All Forum Posts by: Anthony V.

@Tyler E., welcome to BP.

I'm going to send you some info in a private message. There's a great REIA meeting tomorrow night at 5:45 in south Springfield that you should really be involved in. They are doing "Shark Bank" where members pitch deals to individuals with money. It should be a good way for you to see how deals are structured as well as what kinds of deals successful investors are interested in.

Hi Nayt,

Vacation rental is the market to be in if you're interested in Branson. I'd be glad to show you around and show you what I'm working on. I can also introduce you to a good broker that works with investors. I've only been here since last summer so he could tell you a lot more about the areas around Branson.

Let me know if you have any questions and let me know when you get to town!

Congrats!

Reviews can sometimes be hard to get and they will help a good bit with advertising especially on a new property. Consider some sort of incentive to get visitors to leave a review if they start dwindling.

Flipping I can't help you with but if you're looking for high cashflow with rentals then let's sit down when you get here and I think I can open your eyes to a new market.

Let me know when you get to Springfield. I'm doing vacation rentals down in Branson and nothing in Springfield but I'll meet you at the REIA and introduce you to a few folks that are in that market.

What made you choose Springfield?

I did not read all 6 pages of posts, so forgive me if I am repeating what someone has already said.

For $150k you could easily pick up a large vacation rental in my market of Branson, MO. $4k/month net would be tough but you should have no problem grossing over $60k/yr which would get you close.

I don't know about markets outside of Branson but definitely look into vacation rentals.

I'd love to see this as a separate category.

Your CPA and business/real estate lawyer will likely be the best judges for when you'll need a tax lawyer. Unless your tax situation is really complex I don't think you would need one at all until maybe you get into the international or REIT stuff.

You have a few options here. You're best bet would probably be to buy it as a second home on a traditional 30yr am.

Also available are business / commercial loans including an SBA but those may have more red tape, shorter ams, greater down payment requirements, etc.

You are definitely not alone. Basically, in Branson everything holds true that you are seeing in your area.

VRBO is a grey are in many respects. No lenders I've come across acknowledge the revenue either. However, it's a big market here in Branson and many lenders are familiar with it enough to be slightly more lax in their requirements. It is most often treated as a residential property but you do have commercial loans and SBA's available to use for purchase as well. As for resale, the value is officially determined by traditional comps but clients that are looking for a VRBO property definitely look at the revenue history and expect to pay a premium for a well-performing property. Luckily, many realtors here know the market and at least one I know specializes in it.