All Forum Posts by: Julie Pedraza

I will be there tonight!  Please also add me to the email list of local investors.  Thanks!

Hi @Joseph Eaton - I haven't done much with my license yet. I haven't joined a commercial brokerage, as it's really not my intent to represent other buyers and so I'm not sure that's the right path for me. And I haven't been super focused on acquisition these past few months after acquiring 2 properties in August. I'm still glad I got my license for the access I have to any MLS listed properties (smaller multi-family and single family) - just glad to not have to use a middle man to view the properties, access info, and of course benefit from the commission. I've also enjoyed the networking with other realtors in my firm, which I believe will come in handy now and in the future. I'm just still not quite sure how I leverage it to benefit me in finding larger multi-families as I begin to focus more on that next step in the coming year. I can update you if anything changes! Good luck to you!

I couldn't agree more with Eric.  I had a fantastic experience at Go School, and my instructor was Chris Barnette.  He is amazing.  He recently started up his own school called Triangle Institute of Real Estate.  https://triangleinstituteofrealestate.com/   After such an amazing experience for pre-licensing, I was super disappointed in my post-licensing classes at Pan School.  I just recently completed my licensing and am glad to have it so as not to have to involve a "middle man" when shopping for my future properties, and of course the benefit of being able to keep the commission myself on any future transactions.

Thanks for the update, Adam!  Interesting to hear that you've gotten a lot of activity related to App State activities.  I hadn't though about that.  And that is amazing that you were able to rent your house for the entire month of August next year.  Sounds like you are gaining some great traction!  Thanks again for taking the time to provide an update.

Hi Kevin! I couldn't agree more. We LOVE to getaway to the mountains as well, and really adore the Boone / Blowing Rock area. We've taken several family vacations there, including this past summer, which is what got me thinking about investing in the area. You are right in that it would also have value to our family to find a place that we could enjoy a couple times a year together. So, then the biggest question mark in my mind was net income potential, what % of the year I could expect a place to be rented, and another question in my mind is ROI in a smaller vs. medium vs. larger house. I'll begin to do more research, but in the mean time it certainly helps to learn from others' experiences.

Yes, please definitely share before and after pictures!  I'd love to see them.  It sounds like you have some really nice upside potential with your house, and how wonderful that you were able to find a motivated seller.  Thanks again for taking the time to share your experience!

Hi @Kevin B. - Thanks for chiming in! It's super helpful to read about your experience with your new vacation rental. Sounds like you got a great place in a great location. How did you find your place? Off the MLS? I agree that a 25% cut sounds outrageous! I'm not familiar with Evolve, but will be curious to hear about your experience with them.

Out of curiosity, what does your net income look like on your property?  Are you able to fully cover your mortgage payments?  (not accounting for your initial redecorating costs, etc.)

Again, really appreciate you chiming in!  The more "data points" and advice I can get from others, the more it will help to inform our decision on proceeding down a similar path.  Thanks, and best of luck to you!

Carolyn, thanks for the additional information!  That is very helpful, and good food for thought as we consider our options, and whether we may want to add a vacation rental to our mix.  Thanks again!

I hope to attend for the first hour.  Thanks!

@Carolyn Keefe -  Do you have any data you could share that might speak to the return one might expect on a vacation property in the Boone area?  How many weeks per year, on average, do vacation homes rent in that area?  What size of properties typically see the best returns?  Any metrics such as cash on cash return, monthly cash flow, etc. that you can share?  (preferably with professional property management given that I live over 3 hours away)  At this point, I'm just trying to wrap my mind around how an investment like this would compare to a more traditional buy & hold investment (which is what my portfolio currently consists of).  Thanks.

Thanks, @Chris Tracy!  Great perspective and food for thought as I consider my options going forward.  Thanks for taking the time to share your thoughts.