All Forum Posts by: Brandy Anderson

@Steve B. thank you for that input- I talked to a realtor in Seaside who let me know they are pretty strict there...crazy! 

@Derrick Aragon- thank you! I have thought about these costs...it definitely could get steep pretty quickly. I am considering waiting until I have a few more properties under my belt before I take this type of investing on...and will definitely have a property management company involved...I work a full time job in healthcare and sing with a couple bands on the side so my time is well spoken for. ;)

@Aaron L. I am actually looking where you are- Lincoln City or Seaside ideally...but there are some incredibly cheap prices in Coos Bay right now, too. What are your thoughts on tenants in the Lincoln City area if I thought about just making it a regular long term rental instead of a vacation property rental?

@Rick Oaksand @Al Wilson- thank you both for your advice! Such a big decision I have to make- and quickly. I am torn between guaranteed monthly income from an SFR here in Portland and taking the plunge into VRBOs. Thank you for wishing me luck!

@Al Wilson- I am mostly concerned with whether or not any one want to go to the beach in the winter months or if you just suffer for 6 months out of the year and your summer months carry the mortgage.

@Rick Oaks- thank you for the feedback and advice. Have you experienced any interest from tenants in the winter months?

Does anyone in the Oregon market have a beach property on the coast here? I am curious as to whether or not a VRBO on the Oregon coast would be rented out in the winter time if it is not waterfront?

Hello fellow investors! I am about to do a 1031 exchange and will be purchasing an investment property. I am thinking of buying a beach property and turning it into a VRBO. I would love some feedback on the drawbacks of each (beach properties and VRBOS), and on whether or not you guys are actually breaking even and/or cash flowing with these vacation rentals. All positive and negative feed back is welcomed and appreciated! I want to know "the good, the bad and the ugly" before jumping in. Thank you all!

Thank you so much to all of you!! I apologize for not being more clear in my post. It is currently an investment property, I have not lived there for approximately 5 years.

@Ben Nelson I am looking for a duplex and location doesn't matter to me as much as purchase price. I have lived here for a little while now and am (candidly) terrified of being a buyer right now! To say this market is hot is a dramatic understatement! ;)

@Wayne Brooks, thank you for hooking me up with Bill!

 @Charlie Fitzgerald, thank you for your willingness to help!

@Jon Nelson, thank you for sharing your wisdom! I am currently talking to a few 1031 companies and will not make any moves until EVERYTHING is clear. 

 @Bill Exeter, thank you so much for sharing your expertise in your original response and then clarification on another post. :)

@Dave Foster, thank you again for your willingness to help and for the excellent advise! I should have just private messaged you and saved everyone this hassle. ;)

@Jeff B.- rightly stated! :)

Thank you again everyone!! Bigger Pockets is SUCH an asset!

I can't say enough times how much I LOVE Bigger Pockets and the fact that I have a place I can come to and ask these questions without having to weed through articles on google from potentially unreliable sources. I need help, my friends. I am selling my house in Nashville, TN very soon (hopefully! the market is HOT there so fingers crossed) and will be purchasing a property here in Portland, OR in a 1031 exchange to avoid capital gains taxes. I am wondering, if I kept some of the proceeds out to help pay for my dad's medical bills, would I pay taxes on the entire net amount from the sale, or simply the amount I keep? And at what rate am I taxed? Thank you to anyone and everyone who is willing to share your knowledge with me!

Just to report in- so far, so good! I had 3 companies state that they would go out and take a look, and 2 actually did, and I got a GREAT quote on the job! I had a contract emailed to me and am getting pictures of the work as it progresses. The guy I found is even going to address a couple of other concerns for me. I think I struck gold! Still have no complaints about Thumbtack. 

J Beard- what you said is another reason I am selling- I have been really lucky so far with tenants and property management but it will take a little stress off just knowing that when I buy another property here, if I need to, I can drive by my place to address whatever concerns there are personally. I haven't LOVED being a long distance landlord, but it is certainly much easier now than it has been in years past. 

Michaela- I am sad to hear that you had such a bad experience. For the record, none of the people actually gave me quotes. We have set up appointments for them to take a look at the property tomorrow and then give me quotes, and we did discuss all of the prep work, etc. I think what you have pointed out here sounds like really good advice for people to keep in mind. Wishing you more luck in the future! :)

Charles- that is not surprising to hear. I love Google!

You are welcome! I was so pleasantly surprised that I just had to share. It was wonderful. I have 3 different companies going out to give me bids tomorrow and should have the job wrapped up by the end of the week- meaning my house could be on the market as soon as this month! It is very exciting. I have another small project associated with the sale and have now also established a relationship with someone who seems like a very trustworthy contractor in the area because of Thumbtack. You can read customer reviews and see pics online of their work, too. Great stuff!