All Forum Posts by: Bo A Vanecko

thanks all!  great info!  keep the comments coming as i appreciate all the feedback :)

Bo 

curious if people feel allowing pets is a plus or minus in short term rentals?  i can see people local in CO liking the idea of bringing their pets up to the mountains with them.  that said a few things came to mind:

1)  so i can charge a fee either by day or total for the stay to help cover "extra cleaning" but do people Also charge a one time pet fee?

2)  do i risk losing customers who do not want to rent from a place that allows pets?

3)  are there too many accidents to warrant the extra fee?  

i also ask b/c i have a dog that i would like to bring up with us when we use the place.  so if i do that, should i advertise that we have our dog brought up with us periodically esp if we decide NOT to allow guests to bring a pet?

thanks in advance

Bo

yeah sounds about right...  running the numbers a move from 4.45 to 4.63 really doesnt change much in the PMT.  a move from 4.63 to 4.2 though would start to see some numbers be favorable.  

Just quick shout out to see what rates people are getting for loan on rental properties right now. i am considering a property for VRBO right now in a ski town and curious what people are getting for rate quotes and percent down?  curious what rates people are seeing for these types of properties and how much they are putting down.  as you can imagine these are more expensive units in ski areas but rates for rental i am getting quoted at are 4.625% at 20% and 4.50% at 25% down.  

I am looking into one of the newer townhomes in Winter Park CO as a STR and family vacation spot. I have begun researching some of the costs associated with marketing / advertising a property vs having a management company do it for me. One thought is to have a company do it for me at the beginning and then I can take it over a bit later once the property has garnered some reviews etc. I noticed that many companies claim to advertise on all the top sites. As I started looking into the fees associated with each site, it seems that if one were to advertise on the top 5 sites including booking.com, the fees can add up to around 8K or more a year alone; and that is only on 28K of income. At that point it seems logical to utilize a management company.

I am curious if people are investing in that area with STR and if they are using many sites to advertise on or just something like VRBO?

If there are people utilizing management companies, curious if they have any recommendations? 

overall thoughts on the area and growth potential/strength of VRBO ?

would love to hear peoples thoughts :)

Bo

@jaysen medhurst  appreciated!  @mat 

@Mat O'Grady would love to know more about this meet up.  what time of month and location would be appreciated!

in general, curious how this area is for long term rentals etc.  prices dont seem too outrageous from my initial looking 

Hey all.  Bo here.  I am starting  a partnership in the New London CT area and would love to hear from people experienced in the area.  My partner currently lives there and has for 20 plus years.  i will be helping from colorado and traveling there as needed.  our first move is to do a new build since we came into a parcel of land a while back.  after that we will play it out.

i know my partner would definitely be interested in meeting up so let me know if there are meet ups that happen at all in the area.

also if anyone here has contacts in the contractor side that may be willing to take on a new build would love the contact..

Best

Bo

Hey BP community!  I have a partner who I am just starting to work with in the CT (new london) area.  First order of business is to do a new build on a parcel of land he came into possession of.  I was curious before starting to look locally with him if the BP community had any suggestions or thoughts on contractors or costs / sq ft to build in new in the area?  based on the homes that have sold in the near area we are in it seems around 2200sq ft 3/2  is likely what we will target with some wiggle.  

Anyone thoughts / advice would be greatly appreciated.

thanks 

Bo

@John Morgan we are building 1200sq ft or 1400 sq ft 3/2  plans ...  build costs are around your number pending on cost of land and finishings (which we vary a bit).  we already owned many lots which helped.  we have built up several crews as well. new build is great if you have the capital and you have a good trusting contractor etc.  

@alexis monroe  as @Charles Conroy states there are a lot of factors but the process can work well.  I am partnered with a group in Dallas / FW area and they have bought up a bunch of lots a while back.  they were then waiting for market conditions to move and also some capital.  i joined to aid in capital and some other skills.  we are now moving forward quite quickly but as charles states, it does require some cash to get moving.  we have been building and either renting or selling.  rentals around the 20% coc or we are seeing a 30% roi if we sell give or take.  the great thing about the new builds is most all "issues" are covered by some sort of warranty so the hold for maintenance / repairs is minimal.  

once we have a few rented out we were able to secure a blanket loan to cash out three properties (portfolio loan).  we also secured a build loan on the side as well (more of a hard money) to allow us to start building 2-4 at a time.  things are picking up considerably now.  

we did a ton homework on understanding zoning etc as well as future plans of the city and where growth is anticipated etc. 

anyway.  its a great idea to do but does take a bit more capital upfront.

Bo