All Forum Posts by: Jayson Cain

@Denis Ryan  It just depends on the lender. Usually, it comes down to:
-financial stability of the HOA
-any litigations
-if it's low-rise/high-rise

If the above list is not an issue with your unit, there's a path forward for getting Delayed Finance for Non-Warrantable Condos. Happy to talk to you about your scenario. 

@Natanya Vidales I work with investors in the area. They pick this market over Yucca Valley and Joshua Tree because it is more affordable and the regulation for STRs are more lax compared to the two other markets nearby. The only challenge right now is the availability of certain vendors in the area since they are all busy. If you have your own crew working on projects, then you'll do well in this market. 

Happy to help if you have any questions about Hi Desert or Southern California at all. 

Hi Lane, 

I have a STR in Big Bear Lake, CA. What I would say about these vacation rental properties is that they can be very seasonal. If you're still in the research phase, I would recommend digging into the seasonality of the area and adjust your ADR accordingly.

Alternatively, I also own and manage STRs in metros that are not considered vacation areas (Indianapolis, Long Beach, etc). There's less seasonality. If you have interest in any of those markets at all, I'd be happy to help with your research. 

Hi @Andy Hughes! Glad to hear you're looking into the Indianapolis Market. I'm a little biased because I also invest there, but there are different submarkets in Indy that can work for a different strategies.

I'd be happy to connect you to my recommended vendors. 

@Justin Williams Love your post. I've looked at hotels too as it's closely similar to what I'm already doing now (STRs) and my family is also in the Hospitality business in Hawaii. 

I've learned a lot from your post and excited to follow you on your hotel journey. 

Great story @Jacob Sheets and Congrats Adam on your first house hack! My first househack was a condo that I listed on Airbnb. I would live in one room and listed the other on Airbnb. It covered my mortgage and cashflowed a little even in an expensive market like LA. 

@Leif Oldert You can definitely do this. I've done this with my properties in Indianapolis and also help other investors with a purchase of a whole portfolio, or cash-out refinance. 

Hey @Rase Peters! Great to hear that you are already house hacking and taking things to the next level. I work with Bay Area investors with their out-of-state investments all the time so it's definitely possible and you can definitely scale. 

If the Indianapolis market is on your radar at all, feel free to reach out and I'd be glad to help. I live in Los Angeles, but invest heavily in Indy. 

Sounds like you're still working on the project @Geoff Nielson, but you picked a solid neighborhood in Indy. Happy to help any way I can if you need vendor recommendations.  

Some lenders don't have any seasoning period for a refinance. I bought two properties all cash a few months ago and then cash-out refinanced after I did all the rehab. I didn't have to wait 6-months.