All Forum Posts by: Eric SyCip

One distinction that has not been brought up, a legitimate service animal is there to provide some vital service for it's handler therefore is never left home alone while everyone goes out shopping, dinner or sight seeing.   Many places now charge for ESAs but zilch for a legitimate SA.

Quite informative.    Do you share such data every month?      Thank you!

@Michael Margarella Is the meetup being live streamed or recorded? I am new to the self storage space and would be very interested to learn more about this asset class. Ty

I am not from your area but am an Airbnb Superhost and an investor.  I can answer some of your questions.  

To seek more information on STR licensing and guidelines, contact your local planning commission OR you can save yourself some time and effort by going to your local government's web portal.    You should be able to pull up all the guidelines.   Many cities have been clamping down on STRs and depending on your ordinances living next to your STR could actually make the licensing easier.

On a local contractor.............do a Google search (ADU Chattanooga).   There are some companies now that specialize in building ADUs.   It has become a sub specialty.   You will be much better off talking to the ADU specialists in your area.   It would save you time and money; plus they would be a good source of information in all aspects of ADU/STR.    In our area there are ADU specialists that charge a flat fee (around $500) to do a site visit and will provide advise about the process.   It will be a great time to pick their brains and leverage their experience from concept to design to actual construction.

On whether your ADU idea is good and advisable.    A BIG resounding YES!   The income you will derive from an STR will go a long way towards paying off your mortgage (if you have one) much sooner so you can expand your empire.

Hope this helps.   Goodluck!

Thanks everyone for your insights.   I have also been looking into the JT marketplace.    I come from a slightly different background.   Our properties are in Las Vegas, NV and I specialize in the corporate housing niche (30 days or longer).   I backed out of the STR market when I saw how volatile and uncontrollable the situation could get in the hands of the city council that favored the big time players.   I became intrigued by JT when we spent the Independence Day weekend there.  

Do you think that most visitors would prefer to stay in a property closer to the town center where there is easier access to places of convenience (restaurants, entertainment, grocery, etc......) or out in the middle of no where it is devoid of city lights.

Access to water seems to be a luxury in the desert.  How is water provided in rental units when there is no city water to connect to?

Thanks for sharing Jared. I am a newbie in the SS space myself. Transitioning from SFR (Airbnb corporate rentals). Would be interested in shadowing your progress. From podcasts I listened to, I heard that conversions have the potential of becoming more complex than ground up construction. All the best! Eric

Congratulations, Steven. I am a newbie in SS. Transitioning from SFR (Airbnb Corporate Rentals). How did you underwrite the facility? Did you analyze the market you are in? Would love to learn about your process in cold calling prospects. What terms in the seller finance option caused its failure?

Hello.   I have a similar problem.   I have water leaching into the basement through the perimeter walls.   I am in the KCMO area; near downtown.  Hope we get a referral.   

Hi Jonathan!   My name is Eric.  I am also an investor starting in the self storage niche.   Just wanted to touch base with you to see how you are doing in your journey.    One of the reasons I turned to self storage is its unique ability to be scalable since it could be run remotely.   I trust you are doing well and be willing to share your experiences.

Best,

Eric

I am an out of state buy and hold investor that buys in KCMO.  Would love to network with anyone also working the Kansas market.