All Forum Posts by: Gerald Pitts
Gerald Pitts has started 11 posts and replied 460 times.
Post: Asset based lenders for STR
- Lender
- Asheville NC
- Posts 466
- Votes 317
Walton Funding
Post: How Many STRs to Fat FIRE?
- Lender
- Asheville NC
- Posts 466
- Votes 317
One LTR and 2 STRs. Like John said, it depends on a ton of variables.
i worked at the state, so it wasn't hard to match my income with cash flow 😂, but I am probably doubling or tripling that number now.
Post: Syndicating Short term rentals
- Lender
- Asheville NC
- Posts 466
- Votes 317
Check out the BP rookie podcast. Tony Robinson does this a lot.
I personally also prefer to invest in STRs alone when at all possible.
Post: Poconos STR - self manage or property manager
- Lender
- Asheville NC
- Posts 466
- Votes 317
Software is a self Manager's friend. Your Porter, Pricelabs, Hostfully.
Post: Recommendations - Short Term Rental Property Management
- Lender
- Asheville NC
- Posts 466
- Votes 317
Another vote for self managing for the reasons already listed. Also make sure to check local str laws. Nashville has clamped way down on Str over the years.
Post: Short-term Cabin Investment: N. Georgia, North Carolina or other?
- Lender
- Asheville NC
- Posts 466
- Votes 317
Listen to both podcast episodes with Avery Carl.
Post: Are these COC numbers good?
- Lender
- Asheville NC
- Posts 466
- Votes 317
I'm definitely good with 25%. I feel like net should be a little higher? Are you paying for property management?
Post: New short term investor looking for hot short term rental markets
- Lender
- Asheville NC
- Posts 466
- Votes 317
Originally posted by @Bruce Woodruff:
Originally posted by @Dan Collier:
a) I heard on a podcast episode that the Smokey Mountains, Florida Panhandle and Joshua Tree are up and coming
b) that are also within driving distance
a) If you heard about it on a national podcast, then it's probably already over-run by investors (and maybe regulations)
b) Well Joshua Tree is out......
I'm still making the numbers work at 30% COC in the Smokies. It's more competitive than it used to be, but you just have to stay the course, and keep making offers.
Post: First steps getting started in Vacation Rental Property Investing
- Lender
- Asheville NC
- Posts 466
- Votes 317
Originally posted by @Nathan Gesner:
You need to listen to the latest podcast with @Avery Carl:
5 Pitfalls When Buying These “Crazy Cash Flow” Properties (biggerpockets.com)
I have a friend that bought a property through her in the Smoky Mountains and he's doing great. I've been finding too many good deals in my local market but intend to purchase something in one of her markets in the near future. Listen to her podcast because it has some great advice about how to find a good deal in a good market.
Agree 💯%
You can save a lot of time just reading her book, checking out the short term shop website, and see what markets they are in. Then contact them to help you find a property. Welcome to STRs!
Post: BIG DAY In our Short Term Rental World!
- Lender
- Asheville NC
- Posts 466
- Votes 317
Can't wait to read!