All Forum Posts by: Manny Vasquez

Hello Janeth!  Yes, you are correct.  I would send your tenants a 60-day notice to end their tenancy and it can be personally delivered or sent by certified or registered mail.  Personally, with my properties, I do both.  I have great relationships with all my tenants and I will hand deliver and send out a certified mailing.

In the STR platform (Airbnb, VRBO, etc.) I would let the prospective STR tenants know that you intend to show the property while they are there. After they book your place, and in the automatic booking email, I would again mention the above comment just in case the prospective STR tenant missed it. Before they check in, I would let them know one more time just so that you cover all your bases. I would also give them a 1-2 hour notice before you show up. Unless the place is spectacular, you may have to discount the nightly rate so that the STR tenant may comply. Otherwise, you are guaranteed to get a bad review....which will hurt your ratings and in turn, may hurt your bottom line.

Otherwise, I would schedule showing between turnovers or on empty days.

Hello @Jacob Zimerman! I'm an investor and Realtor in Orange County and Los Angeles County. I also own an STR company and I professionally manage 14 STR's in Orange, Los Angeles, and Ventura counties. I would love to connect with investors and realtors from other states.

Are you looking to off-load them in one transaction or do you want to piece-meal the properties?  I have plenty of buyers.....

Count me in! I have 9 STR's in OC, LA, and Kern Counties.

I agree with @Gene Hacker.  Make sure you sharpen that pencil when doing the math on the property just to make sure your numbers work out. Don't be overly optimistic on the vacancy rate nor on the price per night.  Last but not least, one of the Golden Rules of Real Estate is that cash-flow and profit are made on the purchase!

I also agree with @Andrew Garcia.  In my 17+ years as a professional Realtor, former lender and investor, I have never seen a mortgage company call a loan due because you put a tenant in the house.  Just make sure you keep making your payments on time and you can keep the same loan until you pay it off if you'd like.

I have an STR in Bakersfield (and several more in OC and Los Angeles) that I just got started on and so far it is doing quite well. I have thought about doing Kernville or Lake Isabella or any of the surrounding towns as I visit Lake Isabella quite often. I have an awesome crew of people (cleaning crew, handyman, etc.) that are highly trustworthy and timely. I don't think you'll have any trouble finding help in either Kernville or Lake Isabella. If you need any recommendations, please feel free to contact me at your convenience.

P.S. I own an STR company that runs all of our STR's out of Long Beach and OC.

David Greene (and Brandon Turner) have stated in many podcasts that it is ALWAYS a great time to invest in real estate, and I couldn't agree more.  This statement of course, must be taken with a grain of salt.  Being an RE professional in OC for the past 17 years, I have seen many, many great deals in booming and recessionary economies. I must also add that David Greene and  Brandon Turner and many other Bigger Pockets interviewees have also said that your money (your profit), whether you seek cash flow or a lump sum from a flip, is made in the purchase.  I also couldn't agree more with this statement as well.  

I have owned an STR in OC (my property is about 1.5 miles from the beach) for a few years now and I have had a wonderful experience with it. There is high, high demand for STR's in OC, especially those that are close to the beach. However, there is one caveat....some cities require an STR permit to operate. Two specific cities that come to mind are Newport Beach and Santa Monica. One beach city (Manhattan Beach) does not allow them at all (at least not yet). If you are looking into buying a property near the beach for the specific purpose of using it as a STR, make sure you research if that particular city allows for STR's. The permitting process can be easy or cumbersome (again, depending on the city) but once you have the permit you are good to go. I also own some properties in Los Angeles that require permits to operate, and one particular instance was rather cumbersome to obtain.

I can't believe that Chase has such a low limit for investment type properties, this seems a little puzzling to me. Maybe the person that was helping you was inexperienced? Anyway, I know of a few mortgage brokers that can provide much higher loan limits especially if you have a portfolio of properties that are paid off. If you'd like more information on STR's, or if you would like more information regarding the higher-limit mortgage brokers, please DM me so that I I can provide you their contact info.

The answer all depend on a few factors:

1. I"m assuming you still work for a living.....does your company allow you to work from home?  Or, can you find the same line of work wherever you move to?  

2.  What activities do you like to do?  Will the new city/state provide for those activities?

3. What are your RE goals?  (i.e. do you want to have 1 or 2 homes, multi-family, or an RE empire).

Wherever you decide to end up, go visit that place first, maybe spend a few weeks there to see if that is truly the place where you want to end up.  During your visit there, meet up with as many RE agents as you possibly can (or attend the local meet-up) to determine if you really want to move there.