All Forum Posts by: Gerald Pitts
Gerald Pitts has started 11 posts and replied 460 times.
Post: Selling a Property that is Active Airbnb
- Lender
- Asheville NC
- Posts 466
- Votes 317
Can you block days here and there that are vacant now, and just put in the ad "Open House on Mon and Thurs", etc?
Post: Keep the deal or walk away due to rates? Smokies
- Lender
- Asheville NC
- Posts 466
- Votes 317
Quote from @Kevin Luttrell:
Like Luke said, I wouldn't walk due to the rate. You're sure to have a refi opportunity at some point in the future.
I'm closing on some refis with a local community bank in the area that was much better priced than every other option I found. They offer a portfolio loan product that allows mortgage under LLC, charges 1 point, and 30yr amortization. Minimum 15% down and you have to own a total of 6 units or less to qualify. Not sure what the rate is now but I'll bet it's much lower than 6.5% and with less points.
Here's the link if you think it's a fit for you: https://fcbanktn.bank/casual-i...
Website says 500k max loan amount? Assuming that was not the case with your loan correct?
Luke, Purchase price may be the deal breaker. I agree with others that I wouldn't let the rate be a deal breaker necessarily. Would think you could refi out soon enough. I do think rate could be a negotiating tool. Prices seem to be coming down due to rates. They may need to too.
Post: How to write SEO Optimized Airbnb Captions/Descriptions?
- Lender
- Asheville NC
- Posts 466
- Votes 317
Get paid for your pad podcast just had someone on from rank breeze to discuss.
Post: Trump Tower Chicago?
- Lender
- Asheville NC
- Posts 466
- Votes 317
Quote from @Arwin Nassiri:
Does anyone own a rental unit here and if so how is it doing?
You wouldn't believe it. Tremendous. You're gonna win so much, you're gonna be tired of winning. A lot of people are saying that it's the best market they've ever seen.
Post: Sell or not to sell VR with 650k Equity
- Lender
- Asheville NC
- Posts 466
- Votes 317
Quote from @Ariel G.:
@Mike Dymski haha thank you, that is reassuring. I feel like I’m should be doing better and have acquired more properties by now.
Stop and smell the roses, Ariel. You're killing it!
Post: Expert in STR in savannah, GA
- Lender
- Asheville NC
- Posts 466
- Votes 317
Avery Carl had an interesting conversation with an STR investor in Savannah, Julie Gates on her podcast.
Post: Systemizing Short Term Rentals
- Lender
- Asheville NC
- Posts 466
- Votes 317
Quote from @Daniel O'Neill:
Quote from @Gene Hacker:
Most of the books I have read are geared towards the absolutely new investor.
What books did you read? I read Avery's book and right now I'm reading Optimize your BNB by Daniel Rusteen. Not really a systems book though.
Agree with these book recommendations. You might find more system related content in podcasts.
I like short term show, short term rental secrets, get paid for your pad.
Also Who, Not How is great for this mindset. And Vivid Vision.
Post: How To Setup A Airbnb Unit Remotly
- Lender
- Asheville NC
- Posts 466
- Votes 317
1. Read the books
Who not How
Long Distance real estate investing (David Greene)
Short-Term Rental, Long-Term Wealth (Avery Carl-she also has a couple of podcast eps on BP)
2. Study vacation rental markets, find one with a long history of tourism, and where regulations are already in place (opposite of Nashville where I also used to try to do STR :) )
3. Analyze 1 or 2 STRs every day for a month or two.
4. Apply what you've learned above, pull the trigger.
Post: Interior design on short term rental
- Lender
- Asheville NC
- Posts 466
- Votes 317
Some of the better reviewed virtual interior design companies are:
Decorist
Havenly
Decorilla
You could compare cost and value to what you could get on Fiverr or Task Rabbit, and see who has the better bang for the buck.
I also agree with gathering ideas from other local listings to get a feel for what ppl respond to.
Post: Advice on short-term rental property management
- Lender
- Asheville NC
- Posts 466
- Votes 317
Quote from @Maddison Gobble:
Hi everyone!
I own a short-term rental company and a property management company named Lively Stays Management LLC. I am curious how everyone is finding short-term rental co-host clients? Any advice would be helpful, and if I could return the help by answering any of your questions, I would love to help.
Thank you so much in advance.
Maddison
I haven't done this yet, but I plan to research virtual assistants when I do.