All Forum Posts by: Josh Green

@Matt Mertz

StayFi and your info on OwnerRez are super helpful and a great start - appreciate it!

@Salvatore Lalicata

@kyle deutschman is your guy! He owns investment property in Tennessee too

@Madison Legutko

You're probably well aware but the best route for you as an owner occupant is going to be using a owner-occupant type loan. Sure, with FHA can do very low down on MFR but, depending on the property, may find it difficult to pass the self-sufficiency test (for 3 and 4 unit properties). On the other hand, a conventional loan will be good but require more down (15-25%) depending on the number of units.

Step 1&2 you need to find a job and know where you want to move and then:

Step 3 get with a BP agent and lender in the area to discuss your best options for that market.

I service the Tampa Bay area - house-hacks, mixed occupancy, short term, mid term and long term rentals for in state and out of state clients and can go on about this place but it will depend on your goals and step 1&2.

@Kyler J Sloan

In that case you have a pretty simple problem and all you need is estimated NOI of a bigger property vs smaller. Another smaller consideration you may make is diversification. For example, if your market has an untapped demand for smaller properties and your current one is larger, might be worth being able to capture both markets. This is just a smaller subset of the bigger picture which is clear: which has a larger projected NOI. 👍🏼 Goodluck and sounds like a great problem!

Hey all,

A recent BP podcast episode really got me thinking about "leveling up" my STR business through direct bookings and other strategies.

I wanted to throw this out there to connect with other owners that have recently started up a Direct Booking system.

I have some good ideas and some more research I'm continuing to do, but wanted to throw a line out here as well. Feel free to DM me or just comment below 👍🏼

@Jeff Si

To me, what it comes down to is your profitability to comfortability scale. Approach one and you distance from the other.

I'm a big action taker. I believe taking action is a key indicator of an investors current and future success. Analysis paralysis is very real and when unchecked it keeps people from achieving so much more than they realize.

What would I do? I would full send - find out what the laws are in your area. Find the data on occupancy and cost to furnish etc and make a plan. Have exit strategies which I'm sure you'll have (LTR, MTR, etc). I do this kind of consulting as a realtor here in the Tampa Bay area for my clients but can't speak on yours. I'd try to find a good realtor or investor (hopefully both) here on BP than can help answer these questions for your market.

@Cole Schlack

Not sure about the above, but for me absolutely. I'm in the Tampa Bay area. Margins on REI are always going to be on a downward trend as the herd mentality shifts around from market to market and from investment type to investment type.

I see great opportunities now and I'm trying to acquire as much as possible within the next 8 years because it won't stay that way here. Eventually prices will outpace the returns and it will be harder and harder to find good deals or other more creative investment types will need to be found.

Trailer parks, storage units and the FHA 4 Plex on repeat are some examples of investment types that used to be easier to find awesome deals. With information so quickly spread and the viability of out of state investing so much easier now than ever, those margins have all declined and STRs in many places are going to follow suit.

@Caitlyn Drapeau

How big is the hospital? I think it's absolutely worth trying. In my eyes, you have 4 viable options:

1) pay $100, list it on furnished finder and find out. This is what I would do as I think paying $100 and a little time is worth the experiment.

2) a more conservative approach - find a realtor or investor nearby already doing MTRs in the area and talk to them.

3) If you can't find anyone, put yourself in the shoes of the potential audience you're trying to serve. You can call the hospital and say you're looking into travel healthcare positions and ask them if they have any openings and then ask about how they find housing. Or, sign up on a a travel agency website and look for housing nearby for short-to-modterm housing options. Reach out to hosts and sneak in a question about their occupancy. (Assuming that's what you're worried about).

4) do nothing and don't learn.

I'm a realtor and investor in the Tampa Bay area and I do a lot of STRs and I am currently experimenting with MTRs and finding a lot of success immediately. I find these investing options at least in my market are always pleasantly surprising to me as far as demand and revenue goes. It's like running a business and there's so much more to performance than just the property to allow a good investor or team to get outsized returns with small adjustments. There's a recent BP podcast I'd recommend you start with on MTRs, you'll probably find that you stumbled on a great opportunity for MTRs with a 2bd 👍🏼

@Jonathan Kennon

If you're a newer investor I wouldn't necessarily jump to out of state investing - even with the recent book Tampa is going to be a better market than most metros.

I am an investor and investor realtor here in the Tampa Bay area. One thing I've learned is especially among new investors, sometimes it's easy to have tunnel vision. It's important to consult with a mentor or just really ask yourself: what are my long term goals, what's the criteria I need, what I am comfortable and not comfortable with doing/investing/risking, and are there other better ways to kickstart my investment journey?

For example, before I moved here, I was set to continue repeating the path than many on here have taken the past 10+ years: buy a MFR, potentially a house hack, rent it as a LTR, and repeat as fast as possible. I up and left my old engineering career and city/state I grew up in because this path was no longer viable there.

Fast forward, I kept that mentality when I first moved here. Luckily I learned from mentors and pivoted. There are so many more ways to effectively invest in real estate and some unique to the Tampa area that we're not possibilities from where I came from and because I opened my mind and took action, I am projecting my near future to exponentially be better than what I thought it could even be.

Anyway, a little bit of a rant but I love to help new investors because I was there not long ago and I could talk all day about real estate. I think it shows a lot of my passion and confidence in the things I'm doing for me and my clients by taking massive leaps of faith and action such as quitting my w-2 engineering career (had a master's) and up and moving thousands of miles away to make it a reality for me and others to achieve FI through REI.

@Doug Fluckiger

I would definitely look into the landlord/tenancy laws in your state and potentially reach out to experts depending on what you find.

I own and manage a STR here in the Tampa Bay area and am actually finding an untapped market in the MTR space and so I do leases for these 30+ day occupancies. Your situation is trickier because they keep extending so it might be hard to do, but I'd try to have that conversation with this tenant and would definitely create an offplatform booking for them and future guests.