All Forum Posts by: Gerald Pitts
Gerald Pitts has started 11 posts and replied 460 times.
Post: What happens if regulations change in your market?
- Lender
- Asheville NC
- Posts 466
- Votes 317
Just invest in a vacation rental market, and sleep easier at night!
Post: Anyone know of a good Airbnb consultant?
- Lender
- Asheville NC
- Posts 466
- Votes 317
Another vote for the Poconos if these are the options. I recommend vacation rental markets where laws have already been established for vacay rentals / you don't have to worry about laws changing like you do in random small towns or metro markets. Sounds like you can maybe do a 2nd home loan which I recommend doing for 10% down.
Post: Books on Air BnB'ing to learn!
- Lender
- Asheville NC
- Posts 466
- Votes 317
I second the Avery Carl book! Her Short Term Shop is a great one stop shop to jump in and learn. Realtors that invest in STRs themselves, webinars, facebook group, podcast.
Not a ton of other books I've loved. Daniel Rusteen is pretty good. Optimizing your Airbnb.
Post: Branson Market Questions
- Lender
- Asheville NC
- Posts 466
- Votes 317
Look at the 2nd home loan. 10% down. Have to self manage technically which you're planning on anyway. Lenders in that mkt should be familiar.
Post: Bad Information around 10% down
- Lender
- Asheville NC
- Posts 466
- Votes 317
Originally posted by @Shane H.:
@Jeff CChisum
Im not following this at all. Someone posted a link below and it clearly says single unit, no rentals. Ive never used fannie mae and my broker (multiple actually) says he cant get me anything under 20 % down because i own a home. Unless i move of course.
Sounds like it's time to shop a new lender. I recommend a lender that specializes in a vacation rental market. They are going to have done a lot of volume and understand this type of product.
Post: Maggie Valley, NC Airbnb/Vaca Rentals
- Lender
- Asheville NC
- Posts 466
- Votes 317
Originally posted by @Loriel Keaton:
We currently own a few STRs in Maggie Valley and do well year round. Happy to chat if you have more questions.
Hi Loriel, would you mind sharing bedroom count and annual gross?
Let me know if you still need a ticket!
Post: Bad Information around 10% down
- Lender
- Asheville NC
- Posts 466
- Votes 317
Originally posted by @Troy Owen:
@Jeff Chisum
Are you able to use this product for a second home in the same market as your primary, or is there a certain distance away you have to be?
I believe the minimum distance is 60 miles.
Post: Cleaning fees at STR's
- Lender
- Asheville NC
- Posts 466
- Votes 317
It shouldn't really affect your analysis. Pass through cost to the guest.
Post: Nashville Newbie: STR vs. Flips vs. ???
- Lender
- Asheville NC
- Posts 466
- Votes 317
I love STR for cash flow, but I would research the STR laws in Nashville. Very strict. I prefer vacation areas where STR is established and welcome.