All Forum Posts by: Dale Desmond

Hey Jaxx!

Nice job being forward-thinking with your capital! Have you looked out in Long Valley? The upside for equity growth looks promising. Or maybe an STR? Cole West has some smaller units in Terra for sale now. Not sure if it's against policy to mention those here but I'm not selling either & I don't have any skin in the game. Could be good options.

Not sure in other regions, but in Southern Utah, we see the rental season slow down once school starts & almost stops during the holidays. Then comes back in full stride around President's Day. So, if you can wait it out a few more weeks, you will likely find a good renter if your rent isn't over-priced.

We're already seeing good revenue for 2022 in STRs here. With every booking, you have a potential to extend a network. A happy guest tells their friends & their friends, etc...and we're with in 5 hours of LA, SLC, Vegas & Phoenix. That's a lot of potential future guests.

Also, there are a LOT of potential owners waiting to buy a STR as the market softens a little that will swoop in & buy & prevent a crash. "The Crash" has been feared for 2 years & it hasn't happened. These 2nd String buyers that are just waiting for their chance, are ready.

 That's crazy that a property manager won't manage with a warranty! We leave it open to the owner to opt in to get their own. It's up to the owner to check what's covered. 

On a new home, the builder includes a warranty. Most things go wrong on a home/appliances in the first year and then after year 7 or 8. So from year 2-7ish...I'd say you could get away without a warranty.  

 Call a management company & as for theirs then edit it. 

I know some owners/management companies charge a pool heating fee to offset heating costs. $100/stay. 

Hi Patrick! It's an exciting time in STG! Let me know if you need help with investment properties. :-) 

If it's the LDS church, they will absolutely pay it. The Bishop will write the check & it will clear. I had a tenant in the same spot, basically & it was reliable. Unless she does something weird or illegal, you should be fine. She will likely be invited to attend a financial reliance course to train her to handle finances & become financially non-dependant on the church so hopefully she won't be completely dependent the entire lease. 

The interesting thing that's happened S.Utah is that the home prices have jumped but the rents haven't kept pace quite yet. Having said that, many STR owners are cash-flowing. I know of a family ownership group that the 3 families EACH were paid out $20k in profits. So it happens & it takes a formula of a well-appointed home, good marketing, reliable maintenance & impeccable cleaners. Then guests will naturally come back & refer their friends & cash-flow happens.