All Forum Posts by: Napoleon DeCiutiis

Hey everyone,

I recently finished renovating a 2007 Tiny Home (Park Model Home) located near 30A in Florida on a family lot. I put all of my savings into the renovation, including a new roof, completely gutting the interior and redoing it, and adding new flooring throughout the home. It looks really good and would be ideal for a snowbird looking for a cozy vacation home.

Originally, I planned to sell the home on completion, but that has proven to be much more difficult than I anticipated. So I'm thinking of changing plans. I need the home to start producing, whether that's through renting it out or finding other ways to generate income from it.

My question is, has anyone had experience getting a loan from a bank using a tiny home as collateral? If not, would a hard money lender be more likely to consider backing this project since I have an asset to use as collateral? I don't have the capital to buy land, so I'm exploring my options.

In terms of the location, I have experience working with Walton County, and their philosophy is "The answer is NO, how can we help you." Therefore, I'm considering relocating to a county that is tiny home friendly but still a great vacation market. I've heard that basically, any county in Alabama is easy to work with so I'm considering the Alabama gulf coast. I'm curious about your thoughts on this, especially when it comes to generating income from a vacation home. Would it be smarter to purchase the land or lease the land? What are the pros and cons of each option?

Thank you in advance for any feedback and advice you can provide. This was my first attempt at real estate investing, and I'm learning a lot along the way.

Investment Info:

Single-family residence buy & hold investment in Foxholm.

Purchase price: $215,000
Cash invested: $50,000

First Investment Property full of learning Curves, but overall very happy with the choice I made to proceed.

What made you interested in investing in this type of deal?

Fully Remodeled home, Corner Lot, New Roof, Bigger sq ft for the area.

How did you finance this deal?

Kiavi

Lessons learned? Challenges?

used hard money and should of gone dscr loan.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Hannah Smith Berkshire Hathaway

We are closing on our third STR on Monday. The first 2 are in the Black Hills and the third is in Broken Bow. We have hired management companies to date, but are really wanting to take over management ourselves at the end of the year. We don't want to screw things up going into our busy seasons. What resources should we be looking at to make this a seamless transfer and not screw up too badly?

What's that song.... "Where have all the cowboys gone"..... lol "Where have all the STR's gone"

I am in the greater Daytona Beach, Fl. We have a couple markets for STR's. Where else in Florida?

We purchased a 4br-2ba home on Mullett Lake in Northern Michigan and are ready to put it on the STR market. We've met with the three companies in the title line and a couple of others. We're located in a less populated part of the state and are concerned about setting up our own services with Evolve … on the flip-side the % fee from Vacasa seems disproportionate to the service, particularly for times that we want to use the house.

We'd love to know about others experiences with these companies, and we're open to any other local STR companies that we should research.

Thanks!

Jill

Hey BP!

I have a househack and I'm thinking about switching the rented unit from a LTR to a mid-term rental focusing on travel nurses, etc. My first step is just gauging if there's actually a demand for this in my area (Hagerstown, MD).

Does anyone have experience with mid-term rentals and estimating demand in their area? I know Airdna for STR's and Rentometer for LTRs, but nothing for monthly rentals yet. If someone has experience with it I'd love to ask a few more questions about your systems/marketing to guests.

Thanks everyone.

 Left them a message...thanks Brooklyn

I’m a US Navy Corpsman veteran that served with 1st Mar Div 1st Battalion 4th Marines. I’m wondering if I have any fellow brothers or sisters that are Investing in this beautiful business we call Real Estate here in Los Angeles Ca?

Curious if you all think the rates will go up, down, or maintain.

What do you think it will be at?

Are you all still finding deals with the current rates? 

Relatively new to investing with only one investment property, and wondering how to find any deal with rates this high.

Are you all leaving more in each deal to make it work? 

Thanks!