All Forum Posts by: Jon Martin

@Bill Olivent I'm planning to do a borosilicate jar with a scoop that I fill with bulk coffee. I think most people now understand that transmission via surfaces/touch is almost impossible, but people still freak out about irrational and scientifically impossible things all the time so who knows. Especially since that coffee will have near boiling water going through it. By that logic, you would have to do the same thing for salt & pepper shakers, sugar, spices, condiments, etc. 

As for tea, I'm planning to stock the bulk multipack from Costco. I think it's 180 bags of 6 or so flavors for around $16-18. Cheap no brainer that should make everyone happy and if they aren't, then those are the types of people who will never be satisfied so why bother?! 

@Danae M Wible Is this off Rocklin? 15+ year SLO County resident checking in!

Nicely done, congrats!

3 seasons is certainly better than 1 or 2, which most of your traditional STR markets are anyway. Plus it gives you some downtime if you need to make improvements.

That said your clock is ticking for the summer season especially if it needs work, so you may want to wait it out unless it's too good to pass up. 

@Jake Durell whether you can make Option 1 or even 2 work for you depends on your situation and only you can decide that. I pivoted to more of a college town market because I knew that the beach condo probably would not appreciate (relatively) much and that a rehab wouldn't help the value much either, so for BRRRR or a future sale it didn't offer much. It's a good cash flow play for the price but you would have to save the proceeds diligently to scale for the next.

As for why they are so cheap @Lisa Marie, it's because these units are close to being swallowed up by the ocean . ..  Hence the amazing view lol. It's basically a sandspit with a huge inlet at sea level. And why sellers are trying to get of them. Same goes for neighboring properties, and if it were to take the brunt of a large 'cane that could be the end of it. 

Pros: 

-Interest only payments for 15 years 

-Can pay down the principal if you wish on your own timeline in that 15 years, and leave it open for future use if you want if you want

-Whatever available funds are available also function as a rainy day or emergency fund if you see a need (but will need to get paid back, obviously)

Cons: 

-Most are variable rate and fluctuate with the whims of the Fed; standard seems to be around a point above prime (could be better and/or fixed if you shop around)

-For future lending, they can hammer your DTI ratio because lenders could base your potential monthly payment on a worst case scenario high interest rate (I was told 10%). Therefore $100K worth of HELOC could be worth ~$180-200k of principal with a conventional lender for a future property.

You are correct sir- I'm just outside the city limits! 5 minute walk to west village. 

I also have a county zoning code that is one of the few allowed for STRs in the city limits should I end up being annexed. 

Not getting started several years ago. Did well with my primary purchase (late 2013), so I guess that makes up for it!

I'm still in the rehab stage for my 1st STR but will probably go with a traditional coffee pot. If it's more than -2 people, it's much easier to make a large pot that everyone can pour from throughout the morning. Plus it is far more economical than K Cups that taste like mediocre at best. Will probably do the 2.2 lb bags of coffee from Costco for $16 and store them in nice jars. If people complain, I'll pivot.

I thought about doing the same automatic espresso maker that I have at home that does it all with the push of 1 button (grinds raw beans, pack, brew, dispose), but at $700 and a few square feet of limited counter space I'm not sure if the ROI is worth it. Plus I would still want the traditional coffee pot along with it.