All Forum Posts by: Logan McKay Zylstra

The best possible dilemma to have. 

Your current return on equity is .1%. That is not a good return. I would recommend utilizing a 1031 exchange (so you won't have to pay the massive capital gains tax and your tax liability will probably already be pretty significant as you mentioned you are selling your bars) into something with more units and cash flow.

As for what market to choose, I am obviously very biased but I LOVE the Utah market for a mix of appreciation and cash flow. Utah has been ranked as the #1 state economy for consecutive years and has a massive housing shortage (which is great for investors). #2 appreciation last year with the jobs and tech industry to support it.

As for your inconsistent income, the loan officer I use here has a great program for people in your position.

Feel free to reach out, even if you don't choose Utah as your market, I love talking about real estate.

Google it, lots of resources online.

I would just be sure to drive the neighborhood during the day and night.

I would just increase rent. Charging for dogs after not doing so would rub me in the wrong way if I was the tenant.

@Eric Earley

To echo what Joey said 6 years ago, big cabins can pull in some big numbers. There are a lot of family reunions and family vacations that love bear lake year round.

So awesome that you are educating yourself at a young age!

Rentler is a property management software that I use. It is free to the tenant and landlord. I can’t recommend it enough. You do have to opt in to the service though.

I have been reading a lot of new investors' posts where at some point in the post they write "I am interested in..." or "I am highly interested in..." and then proceed to name the strategy that appeals to them. While there is nothing inherently wrong with these statements, I think these people should be saying "I will be investing in..." strategy.

Take the possibility out of these statements. Make definitive statements while trying to learn more. Too many people talk about investing and never actually do it. I think this mental shift could be helpful to someone.

I prefer my personal name.

As long as you are current on your payment, it is VERY unlikely that the lender would notice or trigger that due on sale clause.

This question can't be answered without looking at the contract he signed.

An average Airbnb stay is 4.3 nights. Let's use 4 in this example to be safe.

30 nights x 70% occupancy rate = 21 occupied nights 

21 occupied nights % 4 nights (average stay length) = 5.25 turnovers

Hope this helps.