All Forum Posts by: Chris Watson

@Tara Wright you're not competing that much if you have a decent property. There are many millions of vacationers. Some are looking for unique things or different things. As long as you have a decent property in a decent location you're going to get a return. I recommend starting with a two bedroom because it appeals to couples and small families. 80% of my stays in My two-bedroom or actually just couples. A two-bedroom would allow you to learn the process of airbnbing and then you can decide whether to go bigger smaller or buy more two bedrooms.

God, Family, Freedom....

God when I don't have the wisdom or perceive I do not have the ability.

Family when feeling overwhelmed (suck it up buttercup so your wife/kids don't have to). 

Freedom when I start to procrastinate (remembering the taste of short term financial freedom [debt free] in the quest for long term financial freedom [wealth building/cash flow]...It makes me hungry again:).  

Originally posted by @Vincent M.:

@Chris Watson Thanks for the visuals - helpful. Can you share why you would not invest in a STR in Myrtle beach? What area would you feel make more sense. Trying to zero in on couple of areas to take a deeper dive in . Thanks

I chose East TN/Smokies. Study the markets and determine which works best for you. For me TN is STR friendly and I get a significant return.

@Matt Greer FYI... Staff Duty is not in every branch. Trust me I am in a joint unit now and over half the org had a cow when we did away with it. Of course we just told them they are fine to make their branch cover it, but since you do not have ADCON over us we are not covering it. It ended as it is not practical in all orgs.

@John Clark Sorry not for the Air Force we did away with the Buck Sgt E-4 in the last century (1990s) E-4 is SrA for us.

@Bridget Smith-Osbourne. Also, in the future look to renr to NCOs (E-5 and up) or officers. This weeds out 99% of problem childs, because they have matured by that point and wouldn't pull this.

@Bridget Smith-Osbourne @Aaron Hunt Being military with long term rentals I prefer renting to military. As for each branch of service Commanders and First SGTs/Sergeant Majors react differently. With Air Force we will not tolerate this irresponsible behavior. Yes even the installation Wing commander has gotten involved on occasion. With tr he Army this behaviour while not acceptable it is tolerated. The key is to hound the First Sergeant and Sergeant Major. They will be the ones to make things happen. Just be respectful and let them know you prefer to rent to Army and this reflects poorly on his unit and the Army. Navy call the Master Chief. Marines... Gunny usually will whip the Marine into shape. Regardless of which branch this reflects poorly on their leadership ability and will affect their ability to get promoted which is a good thing. We need responsible people with honor, integrity and commitment in leadership.

@Jessica Muto After setting your goals, enact Dave Ramsey's baby steps. Paying all debt besides primary residence frees up the ability to finance a large amount of real estate. Find the right mortgage broker. Talk to you current business CPA. HINT:Just cause you can take a deduction doesn't mean you have to. It might make it easier to get a larger loan next year by not taking those mileage deductions. Again talk to your CPA and mortgage broker now about next year's tax return.

@Lisa R Barone Unfortunately not. Get on realtors email lists. What I do know about the Poconos is low booking window/short season for the year. Checkout AirDNA and see what others are making.

@Vahid Mirjamali Where are you building? In 80% of America you can build a nice home under $100 a sq ft. I am in an area with very low worker supply so the rate is $135-$150 a sq ft depending on style and niceties. Get some quotes from a couple general contractors and you will have a good idea.