Quote from @Jay Hinrichs:
Quote from @Sarah Kensinger:
Quote from @Jay Hinrichs:
Quote from @Sarah Kensinger:
Quote from @Jay Hinrichs:
Quote from @Sarah Kensinger:
I feel your pain, very much so! It's great when a property cash-flows as a LTR as well as a STR, but it's a hard pill to shallow when you know the cash-flow could double or triple as a STR. But instead, a few people with their agenda pass policies that stand in the way.
to play devils advocate here.. What agenda ? folks that paid a lot of money for an owner occ house and a stable neighborhood might have an issue with the property being run as a hotel?
Seems to me those are pretty fair agendas to have.. also Seems to me STR should be in areas ZONED for it and permitted for it so homeowners if they want to buy there know going in that there will be transient use next to them. Seems to me its only an Agenda because your in the bizz and or you dont have to live next to it.. I would be Uber pissed off if one of my neighbors started to use their house as a STR. so other side of the coin.
I know in Charleston SC were i built quite few homes downtown its highly regulated as it should be and if your zoned and permitted then the price reflects it on the purchase side they are sold as income props.
Yes, but some of us deal with Karen and Karen so that changes everything. I'm surprised you're on this forum if that's how you feel about STR. Some of us are in vacation markets that only survive due to the visitors that frequent the area, and the STR that houses all the guests. If someone decides to live there, that is their choice. I would happily live next to the homes we and other similar operators host, much better than the guys that have the marshals show up and the house explodes! This is America with all the freedoms we are blessed to have, so that means some may do things to their properties that others don't appreciate.
like I said I was just playing devils advocate .. I have owned STR's myself. I dont particulary care to own them anymore i sold them.. too much work for me.. we moved to Mid term fully furnished I like that WAAAAY better. Perosnally.
I'm sure the MTR forum would appreciate your insights since STR are awful.
LOL too funny.. I think its somewhat irresponsible though to be touting this when folks take on such risks that we are seeing where they think they are going to make a bunch of money then they get their hands slapped.. which is my point about being correctly zoned and permitted .. do you think that is a bad thing ??
I have yet to see regulations in any aspect lead to good or an improved state of living. Not that it's anyone's concern, but what we're dealing with is certain people trying to push investors, LTR, MTR, STR, out of an HOA. Can't say there's going to be much good for anyone if it passes, and property values drop because only homeowners can live there. Not many can come up with money to purchase a property right now. Thankfully investors are a large chunk of the neighborhood, so fingers crossed it doesn't pass.
Lastly, we underwrite properties very well and I know inside and out how much one is going to make. This one easily would have crossed the 6-figure mark, not many LTR can do that unless it's an elite of the elite property. So, I wasn't touting anything, just stating a fact I know firsthand.
