All Forum Posts by: Sofia Sharkey

@Ali Jamal Nashville? Have you seen the impact COVID has had in Nashville? This is exactly a place where you don’t invest in STRs right now. Unless you can afford to hold them without producing for some time until everything stabilizes again.

@Sofia Sharkey I will be traveling to St George next week and will be available to meet up / look at properties (will be in town from August 24th to the 28th).

Looking to connect with wholesalers in Southwest Utah, specifically interested in Washington County, Springdale, and Brian Head area.

I’m looking for small multifamilies (fourplex, sixthplex) in areas that allow vacation rentals (aka short term rentals).

@Klint Ruud I operate in an urban market, Kansas City, and while we experienced lots of cancellations in March and April, it picked up for the summer. We won’t see our best numbers this year but STRs are still very much the best option to travel domestically (as opposed to hotels with shared common areas).

Thank you for sharing numbers, that really puts things into context for me as I analyse deals and locations. 90-95% occupancy is great while still profiting $1500 - $2500 per month. Sometimes people lower their average daily rate to reach high occupancy levels so I always watch out for that. I'll reach out to Mike - thanks for the contact! 

Regarding Justin's cabins, go ahead and reach out! I submitted my offer last week however he accepted another one over the weekend. 

I'll continue to scout the general area (southwest Utah) and hope to find something soon. If anyone knows of any other special properties in hot locations going for sell or someone who might, I really appreciate the info! 
 
 

@Kyle Bergren will add this area to my list, thank you!

Are your vacation rentals 3b/2bath or more on the larger side?

@Jeremiah Maughan would you please add me to the list as well? I’ll dm you my email

@Mark Miles what are some of your favorite cities in the south for this strategy if you don’t mind me asking. Do you consider the south of Utah?

@Jonathan Greene interesting perspective but not accurate. I know investors who have built VERY trustworthy teams in other cities without ever stepping foot in the city or meeting the people they work with face to face. I am part of one of them.

@Gail Greenberg since they have some money but not knowledge or time, I would find something that can generate them passive income. I don’t know that it will meet the 10K criteria at least starting out but overtime it will get them there. Joining syndications and making sure they learn about those / joining someone who is creating a fund in RE to make a big purchase and needs investors pouring money. That way you focus on partnering and joining forces with a bigger investor / team as opposed to having to create an entire portfolio like some people are suggesting since that will take more time. Either way, you all would need to learn about the project and the terms and become very familiar with that!