All Forum Posts by: Kenneth Woodruff

This is exactly what @David A Lisowski said. This is simply a way to keep your EMD. The lender will decide whether the deal can close based on appraisal regardless of what you agree to, no appraisal no loan, then if you don't cover the difference you lose your money. This is a deal breaker for me.

As the space matures it is going to be a matter of survival to direct list.  

On a side note, do I now market a multi property as an AirBNB arbitrage friendly property, increase the rents because I know the renter will use it in that way and sit back and collect?  Every action has a reaction !!!

On a side side note lol, I see this bringing even more regulation scrutiny. 

@jay 

@Jay Hinrichs said, you have a great amount of experience that should be used to your advantage.  Start a Podcast, give lectures, create that financial path AND do your pay down.  There are so many ways to make money in our world, and you have a great knowledge base that would benefit both you and others if it was shared.  

For the record, we are in year 7 of a pay down strategy much like you described, and there are times I think im an idiot for not leveraging more.  We do add properties, but because of some early career missteps we decided to always have plenty of exit strategy, which is why our pay down came into play.  Good luck on your journey.  

So I found this article both interesting and concerning.  Robot landlords are coming fast and will disrupt the rental market in my opinion.  Are we fighting a losing battle for future buys?  No big deal?  Will it affect regulations?  I found it very interesting that Columbus market was called out as a recent stronghold for the Robot Landlords.  Just looking to spur some thoughts on the subject.  

https://www.msn.com/en-us/mone...

Interesting choice of cities based on where you are from, curious, what made you pick Williamsport?  I am from that area, not living there now however.  

The area near the colleges, Millionaire row and all along the golden strip are prime areas because of public trans, college demand and shopping. South Williamsport has some interesting options as well, the Little League World Series is played there which brings big STR money, but that is limited to a few weeks a year, but right across the river from downtown.

We have properties in both cities, both are awesome in their own way as others have said.  It would help if we knew what your investment target was as both are pretty steep entry points right now.  

Out of city areas offer some relief but still very hard to cashflow and as @Christian Longacre pointed out, the STR regulations are getting more difficult. You could try the house hack method, which you have some skill set to compliment, however, everyone is trying the same thing in these areas, finding a property and closing on it is going to take a lot of work, luck and ability to close fast. Keep your mind open as you look in each area and widen your search if needed. Good luck!!!

I think those areas will be ok for entry, I don't know anything about the markets though. STR cabins would be a good find

@Jewel B. From a fellow PA resident I wish you luck! We have properties across NC. East coast, in Southport, quiet beach area, not a lot of commercial so vacation rental is lower than typical beach areas, but costs are lower than a Myrtle, or Fla beach, worth looking there is beach is something you want, Oak Island is nice, quiet and a great spot. Charlotte area is nice, and north up 77 has some great spots near the lake, expect to pay $$$$ there. Asheville, our favorite property, great city, great culture, extremely pricey entry now, will be tough to cash flow but appreciation should remain strong. Be careful across the state if you are looking at STR as many local municipalities have started to ban them in one form or another. Woodfin, just north of downtown Asheville just created a permitting process, the legal side of how they all hold up is yet to be determined, but the trend is there. Fayetteville is a military town and prices a bit more friendly, with good rental demand, but still tough to cash flow. Good luck in your search, if you decide to buy or need any references for PMC, GC etc.. feel free to reach out.

My goal, close on my first 10+ unit MF and gain 25lbs.  Yep, not striking out this year!!!!  

can you share the listings?