All Forum Posts by: Sandra Morrison

@Colby Chaney

I co-host an online women's real estate investing group for our local chapter of REIA. I have invested in long term, short term, syndications, etc. Please DM me and I would love to help you work through this .

@Cade Carver

I am in northern KY (greater Cincinnati). I invest in central KY, Florida and Cincinnati. I co-host a networking group for our local REIA. There are several REIA and other meetups in your area. Send me a message and I will direct you.

My daughter started with a house hack two years ago at 23, I started in 1994 and my parents started with a house hack in 1968. It is the way to go. Please reach out if you need anything

@Lauren Adair

I invest in out of state in 2-3 states since 2019. I join the local chapters of Real Estate Investors Association- in all 3 locations. They usually have recommended contractors or at least an FB group where one can ask.

I also join local Short term rental owner and local neighborhood FB groups and ask in those.

I also ask the realtor if I used a realtor.

It is definitely harder to invest out of state without any boots on the ground that you trust that can verify work done, materials used, etc. even if you have a recommended contractor. It was a learning experience for us even when we were relying on a condo association hiring and paying for the contractor that was recommended by the condo association’s property management company. So many eyes on the project and still incorrect progress updates received, incorrect materials used, etc. It is frustrating and more time-consuming and sometimes it has been worth the extra hassle and sometimes it has not for us.

@Ethan Price

I started out with student rentals that I rent by the room. This is my 7th year and I still like this strategy. Due to the demand and how student rental season runs, I have 100 percent occupancy and have 6-9 months notice IF I will have a vacancy and it is always the same week of the year.

The Cincinnati and Columbus chapters of REIA (cincinnatireia.com and coreerocks.com ) both have mostly online meetings including one group that meets and has presentations on shared housing. I believe of you search online you can find Dixie Decker content on student housing and Tiffani Ray Smith on shared housing.

Send me a DM as I am always willing to answer questions and help others. You are on the right track. Good luck!

@Debbie Burgett

Welcome! I and my extended family invest in the area. Happy to see you here!

@Connor Kelly

The Cincinnati and Columbus chapters of Real Estate Investors Association are super active (reiagc.com and coreeerocks.com) with meetings every night along with monthly meetings in Cincinnati's Joe Fairless' Best Ever CRE. Direct messag me and I'll send you any more information you need.

@Marc Zak I believe Airbnb has recommended co-hosts on the platform. Also, one can look at competitors' listings and see who manages them or join local STR groups.

@John McKee

I have a debt free house that it bought in 2019 and rents out, some private loans, and a syndication.

@Byoung Bae

I have long term rentals in Cincinnati area and invest remotely in a Florida beach market and a hiking/cabin area in STR.

I will tell you, investing remotely in a beach condo is a lot of work, and the guests are much more higher maintenance than a hiking destination.

 Also, if you can only afford a condo, if there is a natural disaster or any other construction needs, the condo association can keep your units under construction during your entire high season preventing you from renting. They can also have untimely $40,000 and greater assessments that wipe out any profit.  Another point the condo association can regret to forget inform you that there are no railings on your balconies during a construction project that they indicated was complete and your guest are the ones that tell you, not the HOA, not the property manager, not your Airbnb rental managers or cleaners. Ask me how I know ;-) I have many more stories but  my family has been going to this beach for 20 years and I have family in the area so there's a bigger reason why we own it than the ability to cover our expenses . It has appreciated faster than my other properties, but it is also the most expensive with the most short term regulations and the guests/tenants with the highest expectations that are hard to please.

 My cabin in a hiking location, is freestanding and I control much more in terms of project timing, and, expenses. The guests have lower expectations as they are just there to enjoy the outdoors.

Hiking cabin cashflows better, appreciates, no STR regulations yet, and in general is much less headache. Plus I can drive there pretty quickly IF there was ever an issue.

I would suggest wherever you can build your team and your boots on the ground and can have eyes on it (a trusted engaged family member or other) would give you an advantage.  If it is long distance STR, and you have to fly to get there and there is a high cost to entry then you need to really be able to withstand losses. Your reason for being in that market needs to be a lot stronger than cashflow and appreciation. You have to have some stronger tie to that area for another reason to keep you motivated.

@Ying Tang

Look up calculating the loan constant. I use it to help

me choose between financing. I generally choose 30 year due to the loan constant and it giving me flexibility to pay it off in 15 BUT my loans are under 3 percent so I can definitely invest that extra $$ in something more lucrative.