All Forum Posts by: Nancy Bachety

@Paul Sandhu it looks nice! We’ll have four girls, all known to me, parent guarantees, and our daughter on site managing. Thanks for sparing us floors 2 and 3.

@Luke Carl I am planning on doing just that!

@Peter Jetson we have three LTR annuals, unfurnished, plus three STR's, one sparsely furnished with just enough. In August, this one will change over to a 4th LTR. It literally has what a college house would have, a bed, a cube/dresser, kitchen ware from a thrift store, and a couch and sofa, brand new, blinds, some curtains. All carefully curated! Looks great and costs a fraction of our Intentional STR cost in terms of furnishing. Immediately after listing it, we had two rooms rented for the entire semester with a visiting international scholar and an academic. Filling the nights now with visiting nurses and college folks.

If you see it, you can plan it. 

You’re asking great questions and arming yourself with criteria that you personally can operate in.

Good luck!

@Peter Jetson Yes. We are doing that now on the verge of "retiring". We diversify with index funds and real estate. Within our real estate, we diversify with long term and short term. One STR is separate quarters of our primary, near the ocean, so our primary is an asset instead of a liability. One STR became that after we renovated a sfh in a college town ahead of the lease for the college students (our daughter is one of the four) and it did so well I might revert to STR after she graduates in two years. One STR is in a great town where we'd love to vacation and live part of the year. We bought it for us in the near future but use it as a STR in the meantime to pay down the mortgage .

I said the exact same thing as you: I want to bounce to places I want to spend time in. We buy with that in mind and of course, the demand for STR too.

The next place I’d consider is in the mountains, like eastern TN or NW SC. 

Besides that, I want to travel also, like right now. Like @lucas Carl   we are vacationing on the beach for a week.

Incidentally, the IRS allows you to spend time in your STR while working on it, separate from the 14 day exclusion. We always seem to find something to do to work on, by definition.(check with your cpa.)

It might not be the maximal STR buy but it's a home for us that cash flows. Our other investments are much more optimized though.

First Wednesday of the month, 7 pm, Bay Shore Brewery. Suffolk RE investors Meetup. @Kevin Myhre

An effective way to meet like-minded investors who are interested in meeting you too.

Sure enough, Tyson expects to process 1.25 million birds per week in Humbolt.  Per week. And they want 1500 contractors to build the plant. I wonder what the crime and drug rates are like there. Thanks for sharing Paul.

@Paul Sandhu is the not-so quiet sleeper in STR's. Paul, if you were to expand to a comparable city/state with your business model, where do you think that would be?

@Karen Chenaille Is spot on. We also use one card per property, generally and qualified easily for free companion pass on Southwest. I fly free when Frank and I travel on SW. We use Capitol One Venture to erase travel costs too, like Julie. We earned Priority Pass without trying to access lounges at airports for complimentary drinks and foods. Chase gauntlet easily combines points from many cards and redeems easily for no specific airline. If you like to travel it is worth looking into. 

Choose FI, Brad and Jonathan host a podcast and website and had Scott Trench as a recent guest. Brad “wrote the book” on this. I used to say I couldn’t be bothered and found the Venture card so easy to redeem and stuck with it. But I gave it a listen. We like to travel and it’s so easy to implement and no tracking required.

If they inquire and ask a stupid question, go back and jack up the rate for those nights.

Sounds like a strategic STR purchase if the noise was a factor in getting a discounted purchase price. It doesn't mean you'll have to offer a big discount on the nightly rate though. @Julie McCoy has a good point, what you'd love or hate is different for vacationers. As you describe the expansive views, point out the steep driveway that leads you to it. 

Good luck.