All Forum Posts by: Marcello Di Gerlando

@Erin Spradlin @Patty Capson

I've had an account with airdna for almost two years and have also been paying attention to the the airbnb and VRBO calendars as Erin has pointed out. However, I don't see how to distinguish owner bookings from guest bookings. It seems very difficult to get an accurate accounting of vacancy/occupancy using these methods.

I have been flipping and lending in Colorado Springs since 2011 and recently began operating my first STR near Breckenridge Co. I am currently looking at different strategies to capitalize on the new restrictions imposed on the Colorado Springs STR business. I believe there is still an opportunity in the space in the Springs. But again I'm stuck on this one metric of occupancy/vacancy that is to wishy washy to pin down into a comfortable zone. I would be eager to hear more input.

@Sharon Tavilla

Most HMLs will want to be paid within 9 months. Depending on the particular opportunity you are proposing you may find lenders willing to go to 3years. BP has a lot of hard money resources, tips and techniques search the threads using key words you will find good info. 400K is not a problem it is the smaller amounts that are are more difficult because they simply do not offer enough of a return for the lender.

You pump me up @Don Scott. get um!

Where in the foreclosure process are you thinking about? pre-foreclosure? auction? post foreclosure?

Look here on BP. you have a lot of homework and the answers can be found here. start searching old threads and key words.

@Tracey Leung

Hi Tracey

I see a lot of properties in my area with structural problems. I will typically stay away. As @Warren Marshall mentioned the repair remedy for these types of problems can get very very expensive and simply not worth the grief from an investment perspective. 

Couple of points I see and would have further questions:

1) Is this limited to the outside? if its actual structural settling I would expect to see some cracks on the inside. Typically around the windows and doors. Are there visible cracks on the dry wall inside the house? Do all of the doors and windows open and close freely without sticking of swinging on their own?

2) Check to see if the brick work is a facade/ faux brick of some variety and not actually a brick build home. Facade settling would not concern as much as foundation settling.

3) The repair looks shoddy and could easily look better with the correct caulking.

Bottom line for me: if its structural I would stay away. If its a shoddy facade job I would look to see how to remedy it.

@Lyman DeAnn-Gaines II

Fear of losing what? Understanding what specific fears you have is a good starting point. Losing all your money? Your reputation? Your job? Your family? Is this fear likley to materialize or is this unlikely to happen? Are the consequences minor or catastrophic?

Each of yout fears have different risks, consequences and probabilities of manifesting. Only you can define those parameters - and they should be defined clearly. I use a risk assessment matrix format.

Look up risk assessment matrix in google. Lots of versions.

In short: you need to define your 'fear' often expressed as a hazard and the potential harm. IE . "Borrow $50k from hard money lender. Property is foreclosed on." And then you will also need to define the severity of the outcome (minor to catastrophic) as well as the probability of the fear coming to pass ( very likely to very unlikely) and also adding values to help with your decision to proceed. Again check out the risk matrices available all over the internet. You will find something that fits.

Fear is simply one of the emotions you feel when dealing with the unknown and it's normal.

Defining the problem and its potential consequences to determine how much risk you may want to tackle will definitely help. Tip: I would never assume a high risk high probability, catastrophic consequence proposition. Others will.

Those that say they are not fearful are either very reckless or know enough about the problem set to aswage their fear . Also jumping right in as others have suggested is something I would not recommend. Take the time to understand and define your problem set and take a calculated reasoned response. You will also, most likley, suffer from analysis paralysis but this is another subject and problem that is easier to overcome. Good luck.

@samuel fletcher

You may be jumping the gun . Or maybe assuming to much about how the property is held. Do you know if there are partners? international money? Some kind of tax havens? etc etc I would not necessarily assume the owner is in distress. There may be alot more to the story. Dig deeper and find out more. You may be right. Just be cautious.

Foreclosure properties are not necessarily the best way let alone the only way to find properties you may want to invest in. The best of the foreclosure properties will often get swept up before they go to auction or picked up very shortly after they hit the market...like hours not days or weeks.(the ones that sit around have most likely been assessed by other investors already and passed on) Being in a competitive highly populated area is going to make this type of purchase that much more difficult to buy at a discount. You may want to connect with wholesalers here on BP and in your local area and look at other techniques folks use. Personally I have found several foreclosure properties at auction but its a tough game and the margins are not necessarily better than other methods of finding properties.good luck.

@Kumar Gaurav

This subject is covered almost daily here on BP. I recommend you search the forums, I suspect you will find a lot of answers you are looking for.