All Forum Posts by: Colin Eilts

Hi BP community,

I’m pursuing an off-market short-term rental opportunity in northern Virginia.  I’ve submitted a letter of interest and would like to prepare a formal offer, but I’m navigating a few funding challenges and would greatly appreciate thoughtful input from anyone with experience in lower-yielding opportunities.

The property is very historic, well-known in the area, and operates as a turnkey STR with no renovation required and a consistent operating history. My goal is to raise approximately $1.5M through private lending or a partnership.

The core challenges are a valuation gap and constrained investor yield.  The property likely appraises near $1.2M while the seller’s expectation is around $1.5M, and projected investor return is modest at around 3% annually.  The objective here is to own and preserve a unique and historic property with provenance dating to before the American Revolution that is also able to pay for itself.

I’m looking for practical advice on raising capital for off-market deals with valuation gaps, structuring private lending among trusted contacts, and finding values-aligned partners who are interested in projects with significance and low risk over high yield. If anyone has experience, advice, or ideas, I would truly appreciate hearing from you.  If anyone might be interested in the project themselves, please DM me.

Thank you in advance!

Hi @Rudy Mareno!  Old Town, real estate, and beer are three of my favorite things.  I would love to grab a beer, hear about your investment, and talk about future investments.  I will send you a PM to connect.

Thanks @Andy O'Neal!  That sounds like a fair assessment of Baltimore.  Haha.  I wish you the best of luck with it!

Thanks @Ozzy Sirimsi!  Will do!

Thanks for the links @Dmitriy Fomichenko!

Thanks @Troy Luster!  Glad to be here.

Thanks for the welcome @Ayana Miller!  Glad to e-meet someone in the area.  Del Ray is a nice neighborhood that I need get over to more often.  Richmond seems interesting; I just don't have enough experience there yet myself.   From my few times visiting, it definitely seems like a town where local knowledge is key.  

Thanks @Hank Keller!  Indianapolis is on my shortlist and I do have some familiarity with it.  I just have never quite been able to find the neighborhood + property type + team combo to make things work for me there; but, I have come close a few times.  I definitely get the appeal of turnkey; but, am not sure I am ready to trade away my returns for the ease of it at this early stage of my career.  I've done a bit of TK research and have talked over the phone and signed up with some of the bigger TK companies but am not finding properties that I cam comfortable with that give me the returns I am looking for.

Thanks @Jon Deavers!  I may have to seriously take you up on that.  I'm not in Richmond too often but it's only a short drive away.  I looked into Richmond a few years back but it didn't quite seem like a match for me.  I'll add it to my further research pile and reach out if I ever get the itch to swing through!

Thanks @James Wise!  I was secretly hoping I would get one of your "welcomes."  You and your company are part of what drew me to BP originally when I came across some of your content.  I really enjoyed your podcast episode too!