All Forum Posts by: Bradley Buxton

@Craig Jones

Do you think this will make residents reconsider the status quo of not really having any STRs the last few years? What has been the negative economic impact?  With the demographic change up at the lake over COVID, there might be a renewed call to ban all STRs outright. 

@Mark Driskell the way the law was written was the issue, not the ban itself, had they banned STRs outright then it might have been upheld. It will be a cautionary event for other towns on how to write a ban. 

@Andrew Steffens I live on the north side of Lake Tahoe and it will likely not have much of an impact because of the different activities that bring people to the Lake. It would be interesting to know if there are shortages of short term housing. It could have an effect on Stateline in Douglas county because they have fairly tight restrictions on STRs if there in an increase in inventory from the city of SLT.  I'm sure on busy weekend but the hotels have many rooms that are available. 

@Shaun Ortiz 

Good question to round up everyone selling in their market. Short answer is the market you start investing in thoughtfully with a strategy. Everyone's situation is different and those differences will determine which market will be most successful. If you love the Midwest, then Columbus is a great market. My choice is Reno, NV because I live in Tahoe, it's close to CA, low property taxes, landlord friendly, and no state income tax. I'm not sure it's for everyone but there is plenty of opportunity for success. You can find success in any market with the right strategy. 

Thank you for your service George! Welcome to BP! Having a VA loan option is a valuable resource. All the best on your investment journey.

@Lilia Matlov

Insurance companies are trying to figure out a new business model because their profit margins have eroded. Sounds like a lawyer clause rather than a lobbyist issue. If they file for bankruptcy, would they even have the money to pay out claims?  There are multiple options out there and it's more important now than ever to shop around.  

@Ryan Waller

Talk with an insurance broker and shop around. Up here in Tahoe we write insurance contingencies into the offers. Companies are looking at electrical, plumbing, and roofs, in addition to the disaster risks. Also make sure the tenant's lease has a requirement to have renter's insurance and make sure your carrier knows the lease. DM me know if you need some insurance broker resources for CA or NV. 

@Ryan Thomson

I agree these can be a great way to get a low interest rate. We have seen a few of these deals in the Reno and Tahoe, NV area, although they are becoming increasingly rare. While such opportunities still exist, they often require a higher down payment than the standard 20% to bridge the gap between the loan amount and the purchase price. Investors looking to make the minimum down payment may find these deals less viable. Additionally, the buying process for these properties can be considerably longer.

Check out @Zachary Deal They have multiple lending products. 

@Akash Kakumani

The Nevada side of Lake Tahoe and the Reno area have easily manageable restrictions and opportunities for different STR strategies beyond vacationers. The tech and manufacturing investment in the Reno area is bringing more executive travelers to the area. Low property taxes and about 3-4 hours from the bay area.

This is good news! I have had clients in the Reno Tahoe area looking for DSCR loans.