All Forum Posts by: Pat Wilver

Hey guys, I'm a landlord and agent in town and I wanted to invite everyone to a zoom call I'll be hosting this Tuesday the 7th about some analysis I did on how COVID-19 might affect the Savannah market.  Check out this blog I wrote for a write-up of my analysis.  I'm really interested in hearing from other investors too -- how have you been affected?  How many of you have tenants who aren't paying?  What's your plan to make it through the next few months? 

Stay Safe!

Pat

Link to Event Info

I'll say this-- if you're going to buy a vacation rental, make sure your numbers work if you're forced to put it on the year lease market.  Local government can pull the rug out from under STVRs on a whim, and if (when) the economy contracts again vacation rentals and hotels always take the biggest hits.

If you really want to get into STVRs while also lowering your monthly housing payment, maybe you could consider buying a multi family property in downtown Savannah?  If you owner-occupy you can finance it FHA or VA, come in with little money down, and you can skirt some of the STVR regulations in Savannah (as long as you purchase between MLK and Broad and north of 37th-ish (I forget where the exact line is.))