All Forum Posts by: Jason Eyerly

 The licensing part is true but Rev to rent is over 285%. Check it out. 

https://www.airdna.co/blog/airbnb-rental-arbitrage?utm_source=geniusmonkey&utm_medium=viewthrou gh

There are some markets that I know are good just based on STR premium like Nashville. But if you look up the Music Row submarket you'd think it's atrocious and non performing which I know it isn't. I guess I'm trying to figure out how to put this data to use in any market I'm analyzing for an STR because it seems to look gloomy almost everywhere, with ADRs and occupancy being deceptively low.

I'm no expert but I'd do one. Paying off your home is not only huge financially but psychologically. Use past lessons to guide future decisions. 

 He passed intestate. So I have a probate attorney. But to keep the house I have to pay off his debts, not mine. I'm not using it for a rental property. I'm using it for my own home but I am traveling for work 90% of the year. Ideally, however, it'd be a multifamily (I'm thinking duplex/townhome setup, I want a yard) with a long term tenant on one half and renting out a room and such in mine when I'm not home.

I have the $100k, or rather will, in another few months. I'm torn on keeping my dads house and if I do how do I get the 100k out of the equity I have into it or do I just sell it. The mortgage and such is so good it's hard to pass on. I made a post about it and threw it into the classifieds. I'd appreciate if you could give it a look and tell me your thoughts. I'd love to finish paying his debts, keep it, place a renter, season it, and take a 50% equity out on it to get my $100k back, use that for an FHA hack, and then whatever is left for flips/STRs. Or I say to hell with everything and go live abroad. Ya never know.

 I see lots of foreclosures around me. Some on nicer properties, some not so much. How do you convince the seller to do this and then how do you estimate or get loans on the rehab? Same hard money loans and such for rehab? How do you guarantee they leave and what's the exit plan to get it out of their name at some point? Surely you're risking a due on sale clause. That is a solid plan. I definitely want a few STRs but I think it's important to know the area and what people who come to the area are looking for beyond tourism. I also like the idea of the more regulated markets as it provides a barrier to entry that even at it's face value turn away those who may be looking for an easy dollar.

Again, not everyone's situation is the same. He was able to join the military, doesn't have to pay for any housing costs or support anyone else, and has at least one (if not two) parents to help along the way. Arbitrage isn't up for discussion and wasn't the point of the post. I've already made my mind up on that. I'm just trying to understand how people come to purchase one, let alone multiple, STR properties without worrying about a crash in the market or being over-leveraged. For me, personally, I always have healthcare to fall back on and I'm looking at the idea of a cash purchase of a semitruck and hiring a driver.

I'm $40k into my Dad's estate for a 4/2.5 1800sqft home in Las Vegas (see my classifieds post). It's going to cost me another 60k to clear his debts to get the house free and clear. However, I'll then have almost 200k in equity. My goal is to put a renter in it and get out the $100k I'll be into it so I can use it to househack with an FHA loan for myself and have the cash reserves needed for fix and flips and let the remaining ~100k in equity ebb and flow with the market. This would be a LTR for me as I want to keep the house in the family. How long do I have to sit on it before I can get my cash back out of it? What credit score is required? I'll only be between 600-650 by then but consistent six figure income. I'm looking at creative financing and considering selling just to get back the $40k I'm into it so far but that's an absolute last resort.

Are you going to be furnishing it or is it ready to go with a history of guest returns/reviews? I haven't looked at the STR market in Kansas City but I'd imagine anywhere near the big hospitals would be a huge potential return on your dollar spent.

 I think it's unrealistic for a single man to save up $100k in any reasonable time in the current economy and job market. I was fortunate this year. Healthcare short staffing prompted a lot of bonuses and I'm gonna pull $40k this month with (24) twenty-four hour shifts and then I'm headed out west for fire season which will at least match if not surpass that and I'm owed $40k by my dad's estate. This is not the norm however and I'd have otherwise not been able to pull it off so quickly.