All Forum Posts by: Lauren Lockett
Lauren Lockett has started 5 posts and replied 52 times.
Post: Switching from STR Investing to LTR Investing: Where to start?
- New to Real Estate
- Grand Prairie, TX
- Posts 53
- Votes 30
Quote from @Sarah Kensinger:
I'm wondering if you posted this in the wrong form.....
Also, you can find vacation markets that cash-flow, but you have to look for the golden nuggets in places that everyone else passes over.
Absolutely finding plenty that cash flow, just looking for something less expensive. Thanks Sarah!
Post: Switching from STR Investing to LTR Investing: Where to start?
- New to Real Estate
- Grand Prairie, TX
- Posts 53
- Votes 30
Morning!
For months I've been studying short term rental investing, excited about hospitality and cash flow, but find it extremely expensive in vacation markets to buy. I'm considering re-learning and re-starting with long term rentals. As new or experienced short term rental investors, where would you start to learn and look for long term rentals - multifamily and inexpensive?
Post: Young investor, ready to work! (Atlanta area)
- New to Real Estate
- Grand Prairie, TX
- Posts 53
- Votes 30
Congrats Austin and welcome! Cheers to you doing amazing things!
Post: Market Research Homework Assignment for Short Term Rentals
- New to Real Estate
- Grand Prairie, TX
- Posts 53
- Votes 30
Quote from @Allen Wright:
Hey Lauren, just like Sarah said Airdna is your best bet for 1,2 and 4. I'm not sure if you've used ChatGPT before but sometimes if I have a brain block I'll input a question like #3 into the search bar and see what it comes up with. Of course double check this information but that is usually a pretty great source.
Ok cool! I'll try out Chat GPT. I'm new to it, but open to seeing what reponses I get back! Thanks for the feedback!
Post: Market Research Homework Assignment for Short Term Rentals
- New to Real Estate
- Grand Prairie, TX
- Posts 53
- Votes 30
Quote from @Sarah Kensinger:
The best way to get answers for 1, 2, and 4 would be Airdna if you have the subscription for it. Since it's just for the bootcamp, Rabbu would probably be enough if you don't want to pay for the data. Number 3 would entail a bit of research. You could call an agent, but I would suggest just googling the area and see what comes up for tourism. Pinterest is another great resource to find this out, because bloggers write about an area and then post that link on Pinterest. This type of research for number 3, would give you knowledge and practice in researching travel and tourism that you'll use for a long time!
Thanks so much for the great tips! I'll def try both routes - paid AirDNA and Rabbu. OMG! I never even considered Pinterest as a wealth of information and I've found so many good gems. Thanks so much for sharing!
Post: Feeling overwhelmed and discouraged
- New to Real Estate
- Grand Prairie, TX
- Posts 53
- Votes 30
Kenneth you bring up a great topic and feeling I'm experiencing as well:
Contributing in a new space was one of my first questions too. What's great is how encouraging and nice everyone was about jumping in when you can and that you have something you can contribute! Experiences, location, background all play a role and create community here.
I'm a newbie as well and I will say learning has really helped build my confidence. I joined a bootcamp specifically for the area of real estate I'm interested in learning and what's been awesome is connecting with so many other people with insights, tips and ideas. Having accountability partners and groups has been a MAJOR hack. Not just the forum but even the smaller team of talking and reaching our goals together. Hope this helps and you got this!!!!!
Post: Boxabl Under SEC Investigation
- New to Real Estate
- Grand Prairie, TX
- Posts 53
- Votes 30
Quote from @Chris Seveney:
Uh oh. I always thought it was a cool idea, but anytime I see tech people get into real estate and construction (especially to this scale), I really pause and take caution. I spent 25 years in commercial construction and you learn something new everyday and its a very difficult business to be in. Someone with no experience jumps in and wants to transform the industry. Hey maybe it turns out great, but still no real product years later and now this.
Curious how this pans out.
Boxabl acknowledges SEC inquiry in updated filing | Business Insider India
I really hate to hear this. Such an innovative idea! I certainly hope it all works out and maybe along the way they'll be changes that even help them in the long run.
Post: Market Research Homework Assignment for Short Term Rentals
- New to Real Estate
- Grand Prairie, TX
- Posts 53
- Votes 30
Hey everyone! I'm working on filling out the Module 2 worksheet for Short Term Rental Bootcamp with BiggerPockets. It's all about doing market research. It asks questions that I don't know how to find the answer to (I'm still catching up on everything) so wanted to ask this community and with your experience, where you may find the most accurate information or who you go to when you're doing your market research:
How do I find out the answers to these questions:
1) How many active listings are in this market? -- I got this number from AirDNA but how do I know this is accurate. Do I just go with it?
2) Which months are slower? busier? -- I got this from AirDNA as well. Is that right?
3) What is the main economic driver of the market— travel & tourism or some other industry? --- Is there a site that provides this info? Do I ask my agent?
4) What's the average price for a 1 bedroom in your market? A 2 bedroom? A 3 bedroom? etc.
Thanks for all your help!
Post: How to get LOCAL help for your STR, no matter where you live
- New to Real Estate
- Grand Prairie, TX
- Posts 53
- Votes 30
Quote from @January Johnson:
Did you know that Airbnb has HUNDREDS of local host community groups on Facebook? One of them is bound to be in your area.
Join these groups in the markets where you own and operate your STRs so you can ask for LOCAL recommendations (handymen, cleaners, contractors, etc.), get advice on LOCAL ordinances and regulations, and network with other hosts who own property in your area. Host clubs advocate for state and local STR-friendly policies and plan online and in-person meetups. Community Leaders in these groups are hosts who volunteer to foster engagement and helpful assistance.
Here's a map of all the locations for host communities. You will need to supply your email address or Airbnb link to join.
https://community.withairbnb.com/t5/Local-Host-Clubs/ct-p/en...
Wow, even when I was an Airbnb host, I never knew this existed. Thanks so much for the tip! Look forward to joining one when I buy my property!
Post: HELOC in Texas
- New to Real Estate
- Grand Prairie, TX
- Posts 53
- Votes 30
Quote from @Summer Whitten:
What lenders are offering HELOCs in Texas?
Hey Summer, did you end up going with any of the recommended banks for your HELOC here in Texas? A friend recommended RFBCU, a credit union here in Texas and I've just started the process. Good luck!