All Forum Posts by: Joshua Messinger

Hey @Sam Booth! 

I would advise you to tread carefully when buying condos or apartments. If you are planning to use it as a short-term rental make sure the building has at least a couple of years in its books of allowing people to operate legally and reasonably without major fines. A simple call to the building manager can answer this question quickly for you! 

Hope this helps and don't hesitate to reach out if you ever need anything! 

Hey @Nina Marie! 

For the time being, I would rent the property out as an STR. BUT, I would also recommend that you market the property as a mid-term rental at the same time too since you can do both. Doing both at the same time too will get you inquiries to rent it out long-term so you can avoid getting whacked from the ordinance being put into play.

Hope this helps and if you have any questions on marketing the property don't hesitate to reach out! 

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Josh

Congrats @Phillip Brown for all of your success on this one so far! 

Can't wait to hear about your guys success moving forward!! If you ever need anything don't hesitate to reach out! 

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Josh 

Hey @Sean Eley! 

My team and I operate over 50 units/properties in the Poconos as STRs. Feel free to reach out and I can help you get started in the area! 

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Josh

Hey @Brandon Evans! 

Trust me there is a TON of opportunity out there. The real question is how are you searching for deals so far? What I have seen more than often lately is that there just aren't many deals on the MLS anymore as so many people are starting to catch on that there have been very solid deals on the MLS so they are scooping them up.

Otherwise, I'd be glad to help you out with your analysis. Feel free to reach out! 

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Josh 

Hey @Dusty Hulet! 

I believe @John Underwood and @Nathan Gesner have nailed this one spot on. 

I would ask yourself this question ~ Do you think now is a good time to be overleveraged? 

Otherwise, I hope this helps and if you ever need anything don't hesitate to reach out! 

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Josh 

Hey @Brandon Elliott-Pandey! 

Would most likely be better to answer these questions over a call! But, my team and I are invested in the Poconos, PA mainly right now and we aim for a 20% CoC return at least, or a payback period of less than 3-4 years.

The ROI on STRs can really vary depending on the area, given that STRs rent out based on the community they are in you could really go anywhere and potentially make a deal out of something!

I'd love to talk more about the areas you've looked into so far! Feel free to reach out whenever! 

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Josh  

Hey @Daniel Blanco! 

Many great questions have already been asked on this thread! 

To add to this ~ are you asking your guests to leave a review before, or after their reservation? It is crucial to ask for reviews throughout the entire process of their stay. 

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Josh 

Hey @Brian Lenzer! 

This is a great question! To figure out the tax rate of a certain area you will need to search the county/area it is in. You can easily do this by googling the county and calling them. Some areas will even have their own tax assessor offices where you can easily figure out this information. I would never trust a source on the internet unless it is fully verified and up to date. 

I hope this helps answer your question! If you ever have any questions please don't hesitate to reach out! 

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Josh 

Hey @Preston Gealy! 

Given the current market in PA this one really depends on the strategy you're looking to move forward with in the next couple of years. If you're trying to continue flipping I would try to sell ASAP so you can get back into another flip that could potentially make you a profit. Otherwise, I would recommend renting it out on a short-term or long-term basis depending on the type of risk you can stomach. Short-term will most likely give you better tax advantages but long-term is much more secure especially if you're in Pittsburgh. 

Hope this helps and feel free to reach out if you ever need anything! 

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Josh