All Forum Posts by: Shannon Vistisen

Hey Dan, thanks for the information. I'm trying to read and learn everything on vacant land loans to construction loans and how to make this idea tangible. Is there anything that you've come across in terms of learning how this process goes or the ways to make this a seamless journey for reading, listening to, etc?

I've read and consumed everything about short term rentals in the past year. But being priced out of the market I want to get into, possible purchasing of land and building might be an option for me. But, I coming at this route brand new. I don't want to end up loosing money or coming up short. Any good articles, websites, podcasts that can help teach me about loan/construction loans, building processes, etc.

Thank you for anything you can share :)

@Dan Slaughter Thank you for following up so quickly!!! Did you switch over to a construction loan after purchasing the vacant land?

What were some pain points you experienced that you didn't see coming?

How much did you end up having to put down for the vacant land loan? 20-25%?

Thanks Dan!

@Luke Carl Did you build the cabins from the ground up? Or did you purchase them already built and furnished? 

Good Afternoon,

My husband and I have been looking to purchase a property as a STR in a specific area that has become popular in the last couple of years. We are getting priced out left and right. So we thought we could purchase land and build what we want.

Does anyone have experience in this route for STR? Any recently with the cost of building supplies up due to the bottleneck situation?

Did you take the route of purchasing the land in cash or getting a loan for it? I'm just now researching what the process entails and am looking for some IRL experience from anyone on here.

Thank you for any advice you may be able to lend.

Hello Everyone, 

I'm looking for some information around forming an LLC for our Airbnb property.

Can we legally do it? 

What are the benefits?
What are the requirements?
What has been your experience if you have one?

Thank you!

Hi Everyone! Jumping on this older post. I'm new to REI and would love to connect with people in the field. I'm looking for my first STR in and around the TC area. Anywhere from Boyne to Frankfort; TC being the goal but I know prices are competitive and demand is higher than supply at the moment. I don't see that area ever losing it's appeal and hope to one day move up there from downstate. Would love to connect with any other individuals and really get to know the area and the people that live and work there :)

Very much @Todd Mason Thank you! I was thinking the same thing. I just wanted to make sure I was making the right decision. Thanks again!

@Matt J. How quickly do you suggest to pay off the HELOC?

I'm looking to purchase my first property this year. I was leaning towards a cashout refi due to the locked in interest rate. But am now wondering if a HELOC would be the better option. How much ch does the interest rate move when working with helocs? And would the smarter route be a cash out knowing that interest rates are going to go up in the near forture.

property: will be a SFH as a short term rental.

Thanks @Tim VandenToorn I would love to talk about your experience in real estate investing. 

Right now, I'm focusing on a short term rental for our first property. My larger goals are to have a few STR & LTR properties. But starting off with one to get my footing within the field.

Thanks for anything that you may be able to share with me!