All Forum Posts by: Jared Hottle

I have had success with VRBO, FF, and Airbnb. Why not post on all platforms just make sure to make it unavailable on FF when it is booked on Airbnb or VRBO

I find the LLC question to be a surprising hinderance to people. I think it is great you are thinking through the situations and risks involved but I believe deals are the biggest thing you need to focus your time on followed by contractor/lender/PM relationships. I have helped many people put an offer on a property in their name and create and assign the property to their LLC during closing. Very common. Also common to have people buy in their name and assign later or increase their insurance coverage.

Potentially some redemption periods, maybe repairs or lining up contractors to make repairs is taking awhile. If it was a small bank I would reach out to them but the big banks are near impossible to get ahold of for a situation like this. I would do some research on what real estate brokerage lists all the Fannie Mae REO stuff in your market and contact them. They should be able to figure out information for you.

How did you get the gig to fly anywhere anytime lol? That sounds amazing! If I were you I think I would do some deep research on emerging or established and growing short-term rental markets. Once I narrowed down which ones I liked I would fly there and set up meetings with STR agents, bankers, STR property managers, get as many contractor referrals and handyman referrals as possible and keep building that way. Early on I would be involved in the day to day and once the trust is there pull yourself out of the business. I think it could be tempting to do this in a couple markets but I think the time it takes to know the market and secure the boots on the ground the way you want it I would stick to one market.

Midwest winters definitely slow down the rental market but do not let it stop you from looking and buying. If you buy in the depths of winter, it is vacant and move-in ready I would try for a 60-90 day close to get you into the spring. If it isn't vacant, or you will make some updates before it is move-in ready then I would not even worry about when you close. Just have it ready for the spring lease up.

We will be at GR Kitchen and Taps the first floor of the Best Western in Downtown Waterloo next Tuesday October 11th from 5:30-7:30 for our real estate investors meetup. We will have Julie from The Waterloo Housing Authority talking about rental assistance. Hope to see you all there!

I agree with most of the sentiment on here. You really will want to fill it with your own tenant. I have had investors get pictures and advertise, show and fill before closing but this can get hairy if there are late problems in escrow like clouded title, not appraising, etc. Typically I recommend filling after closing but in certain times of the year (like now as we approach winter) getting quality tenants becomes harder and harder so I understand taking the risk to get it filled. 

I would agree this seems a bit odd but every area can be different. If your offer is subject to financing then you should have some leverage to extend the loan commitment date and closing to the day the bank thinks it should get those done but I would make sure to be in contact with your agent and the bank and make sure your amendment has the dates the bank feels comfortable with.

I think investor minded agents can provide great value with finding MLS deals.

We are constantly networking and connecting so often times we know of off-market deals, pocket listings, or portfolios.

When it comes time to list, using an agent obviously is helpful as well as they will know the area and are able to run comps.