All Forum Posts by: Joshua Strickland

Vacation rental condos or “condotels” are much harder to get loans on now. Higher rates and more money down, so be prepared for that.

@Kenneth Garrett How do your off season bookings look in Miramar Beach? Still enough to cover expenses?

You’re not going to be able to do a 10% down vacation home loan on a condotel anymore. You would need to find a “warrantable” condo. If it’s nonwarrantable/condotel Fannie Mae won’t touch it. 

In 3-5 years you can have one in each of those markets, but not if you don’t start somewhere first. Your analysis seems good, but you will learn more in 6 months on managing your property then you ever will analyzing more deals or reading.

Love avalara. They make it easy. You’ll be glad you let them handle the taxes for you.

@Jefferson Brown Curious how you implemented the third party inspector. Is it a company/person who specifically does that or do you use a handyman or something like that?  Also do you have them inspect every clean or maybe every third?

Virtual Assistant time!

Optimize Your BNB is a good one.

Curious on everyone's STR acquisition strategy. Obviously depends on what level of investing you are at, but nonetheless…

Do you prefer older units that typically will cash flow more, but also have more maintenance, etc. or newer properties that you pay a premium for with less up front cash flow, yet long term upside in reduced maintenance, appreciation, etc.

DSCR loan if you have the down payment. Debt Service Coverage Ratio. You may have to ask a few lenders before finding one that does it