All Forum Posts by: Debra Martin

Hi everyone, thanks for taking the time to check out my post!

My husband and I have been thinking about trying out short term rentals here in Luray, VA because it is a pretty popular vacation/wedding destination and there aren't many Airbnb's available in the actual town itself. Obviously, the way things are right now won't mean entering into the greatest market for short term, so I'm taking this time to do as much research and practice analyzing as many deals as I can.

Anywho...I'm wondering what percentage current short term investors are putting in for vacancies when they're analyzing their deals. I have spoken with an investor in the area that has Airbnb's in the surrounding area that actually tell him they are visiting Luray...and he said he has around 90-96% occupancy every month.

Thanks for your help in advance!

I was looking through the local craigslist page for Real Estate for sale and came across a fellow investor. I replied to the posting in hopes of networking with another local investor who states he has 20 years experience.

He replied and said he’s happy to meet when this is all over. I mentioned where we live and he said he has a mobile home park he’s had for 18 years and doesn’t have time to manage and is paid for so he doesn’t have offset for the income in regards to taxes.

We are going to take a look today...you never know, reach out!

@Daniel McDermott I haven't closed any deals yet with him, but have been talking with Josh Dubs with Webster & Dubs and he has been great so far and reasonably priced.

@Todd Rasmussen no exigent circumstance, just have been considering starting an LLC, but haven't due to the expenses and only having one income property as of right now. The tenant we have would like to the option to buy both the mobile home and the land. He and his family from the town and would like to stay there.

My husband and I have never sold a property and this is also our first income property as well. We're newbs!

My husband and I own a mobile home located on a plot we own, not in a park. We have had a tenant in it for the past two years. They have been wonderful and are interested in an option to purchase contract that we do not currently have set up. My husband and I are considering this as the mobile home is very old, and are aware that probably pretty soon some major repairs will be needed.

I'm wondering if it will be of any use to us to create our LLC (this is our only current income property) and transfer this property under it's ownership, or keep it as it is? We're trying to figure out what makes financial sense for this property. Based on last assessment it was at $40k which gives us about $20k in equity currently.

I'm currently using Moseley and have liked it so far. They just upgraded the system and I'm trying to get used to it, but it seems fairly simple.

I'm not currently in Buffalo, but we're from there and friends back home said that South Buffalo is a good market currently.

 @Dmitriy Fomichenko 

@JM Payne @Andrew Syrios

Thank you for the tips and well wishes!

My husband and I moved to Virginia about two years ago. We're looking to buy and hold SFH and small MF. My husband is a high school mathematics teacher and I'm currently focused on getting my real estate license and starting our investment business. I joined Bigger Pockets for the education and networking!

@Daniel P. have you done more meetups for this area? If so I’m very interested!