All Forum Posts by: Jayson Cain

In addition to properties out of state, we currently have properties in Long Beach, CA and Big Bear Lake, CA. Both have rules and regulations when it comes to accommodations less than 30 days. 

There are lots of areas where you can do STR, it just depends on your definition of a good one. Is it the overall cashflow? Is the the proximity to where you live? Is it the type of guests you want to host? How involved do you want to be in the operations? etc.

The type of property and the location would depend on your answers to these questions. Overall, there are a lot of areas where you can operate short term rentals in CA. It just depends on your criteria as an investor. 

@William HamburgGreat rundown of the deal and congratulations! Glad to hear you did not give after the 80th call and kept pushing. What're you and your partners' goals for 2022 after this successful flip?

Congrats @Alejandro Meriles-Medina! Great advice about getting started and taking action right away. 

Congrats! Househacking is great way to build equity and start your RE journey. 

Congrats! Regarding lending, not sure if there's still a minimum, but Huntington was able to help me before on a refinance at low loan amount. 

Congrats! That is definitely a feat having the seller pay closing cost. What's in store for you this year?

As an investor, I've never been charged this. Most lenders usually cover this cost. 

Those are great numbers! Congrats

@Kevin Masse Most lenders charge origination fees (points) and minimal processing fees for refinances and purchases. Appraisal fees are usually paid by the borrower upfront and is a pass-through cost from the AMC, not from the lender.

Other fees are determined by the escrow/title companies. You can usually select your own 3rd party vendors during a refinance (title and insurance companies) so you have an opportunity to shop around.  

@Stacey Earl, my PM does not charge any renewal fees (not yet anyway). I'm currently paying 10% of the monthly rent, which hasn't changed since I acquired the properties. 10-12% seems to be the average in the Indy market, but PMs don't really make their money from this. 

+1 what @Kenny Dahill said. I'd refer to your Property Management Agreement contract.