All Forum Posts by: Mack Lengel

My business partner and I are looking at purchasing a house to setup a Flight Attendant / Pilot Crashpad in Las Vegas. The price of a suitable property will be $425,000 - $475,000 and we can come with up to 25% down. My question is if we go for a DSCR loan, will the lender only consider the Rent Value of the property based on if a single family rented it, or will they consider the rent value for the intended purpose which is much higher? Typically rental income for a crashpad will be about 2x market rent but of course we have some operating and management expenses to cover and all that, but it still cash flows reasonably positive.

I'm looking at putting an offer on a listing with four separate tax parcels, three of them being vacant half acre lots and the 4th with an unfinished, dry cabin.

My initial thought is to sell two of the parcels. Then use the money from one of those sales to fix up the cabin, add a well and septic, and use it as a STR.

I'm going to need financing for this. My understanding is that with this being an investment property and due to the unfinished cabin, conventional loans won't be an option.

What are some financing options? And what can I expect from those are far as rates and terms?

Thanks so much for your help and expertise!

Hi!

I recently completed a new build STR. I like the fact that I was able to design it with unique additions that none of my competition is offering, and I want to continue to rinse/repeat this process. I have a parcel that is zoned specifically for multiple units.

With that said, I paid for the entire first cabin out of pocket with cash only, and it has taken me over a year to save up that money. I will use a refinance to build my second unit, but am looking for creative financing ideas that I can implement so that I can continue to build more units faster. Any advice is appreciated. 

 Close to Lake Hartwell. 

I've found a massive, commercial septic tank that I am considering converting to a STR. The only challenge is installing a bathroom in it.

My wife is growing fast with her STR property management. Airbnb is her main platform for bookings. She uses Hospitable to manage all her properties. She also receives referrals from various sources where a direct booking site would make life easier for guests, my wife and her cpa (lol). Hospitable has a "landing page" feature that can connect to Stripe payment feature but the site does not allow for any real creativity or enhanced functionality at this point.. Anyone out there have recommendations or know a web person who has worked around Hospitable? Thanks in advance.

Ben & MaryChris

I'm a numbers person and want my decisions to be guided by data over anecdotes.

With that said, how do you calculate if a market is oversaturated? 

I've seen one interesting approach recently where you can use AirDNA to get the 1-year growth in STR listings and compare that to the 1-year growth in STR revenue. If the amount of listings grew by 25% and the revenue in that market also grew by 25%, then that means supply is meeting demand, which in turn means that market is not oversaturated. However, that is a snapshot of only 1 year. And, it is a "rate of change" type of metric.

I'm wondering if there are other metrics people use to determine market saturation?

came across this article tonight. This is good news for the pigeon forge area. My PF cabin does remarkably well when dollywood is open. The marketing and investment along with potentially longer calendar to operate should be great news for this area. 

https://www.chron.com/life/tra...

I have seen some nice pre-made ones in wheels. They developed the land and just rolled a bunch of them in. I drove by and noticed quite a few cars at them so they are renting even this time of year.