All Forum Posts by: Blaise Peterson
Blaise Peterson has started 2 posts and replied 22 times.
Post: Looking for an experts opinion!
- Posts 22
- Votes 6
Disclosure: While I do have do have a fair amount of RE experience, I do not have STR experience.
A lot of new investors seem interested in STRs because there is potential to make good money. Keep in mind that there are two roles you play as a STR owner: that of a RE investor and that of a business owner. Most new investors are inexperienced in both.
Inexperienced investors should minimize the number of things that can go wrong. This is especially true if the property is leveraged. A new investor should either buy a turnkey STR and learn to run the business or buy a property in need of a modest rehab and learn to be a landlord.
Post: Interest in a neighboring home
- Posts 22
- Votes 6
Quote from @Cory St. Esprit:
Quote from @Spencer Speckles:
It may be worth continuing your relationship with the police and city council. This sounds like a nuisance property so they will likely put some pressure on the owner. It’s either that or to live with it.
A side note: it might be that the owner is a slumlord, not because he/she is an evil person, but is simply a good intentioned person who doesn’t know what he’s doing.
I talked to someone who knows the owner...it's the latter. It's a set of brothers who have struggled to find their way in life. Their father is a very well-paid orthodontist. He basically helped get his sons into real estate and arborist services because they didn't have a clear direction.
That's an ideal scenario. Develop a friendly relationship with the owners and you guys can all work together to figure out the best way to handle it.