All Forum Posts by: Jonathan Stone

@Alexander Knowles

Others here have more direct information but I believe having a lot of reviews is very helpful. Obtaining large amounts of reviews quickly or very high reviews quickly seems to be an important step.

Thanks for the feedback. We have been looking at a STR here on the Oregon Coast and also looking at other markets around the country.

@Daniel Johnson

@Zachary Beach

What markets are you guys investing in?

@Luke Carl

If I remember correctly you are investing in Nashville and Gatlinburg?

@Jonathan Cevallos

By contingency funds I mean cash outside of other investments. Things that can cover you when expenses come that are 100% liquid. The same way you carry some account balance for an emergency in a household budget.

@Jonathan Cevallos

Per the agreement I had 30 days for my specific plan. Hope this helps.

@Jonathan Cevallos

It may be a good idea to get on the phone with a rep from your current 401k provider and ask them about loan conditions and rolling funds in. I know I have taken a 401k loan and had a limit of 50% of the balance or 50k$. But if you are transferring in fresh funds make sure those would be available as a loan. Also make sure you have contingency. It sounds like you already have a MF property but if you separate from your employer the loan can become due. This happened to me when I unexpectedly left my employer. If you don’t pay it back it becomes a withdrawal and you pay penalty plus tax. Hope this helps.

@Michael Elefante

Thank you for the encouraging story and all of the replies to comments. My wife and I are currently prospecting properties for a STR and stories like this along with all the BP podcasts on STR have really helped us as we refine what it is we are looking for specifically. We wish you much continued success.

@Shaun Robinson

Go to the BP website on a computer, I haven’t been able to acces via a phone even through the browser, the use the education tab. Then webinars. There should be an archive tab, that pro members have that allows you to see all of the previous webinars. I’ve found several of them useful myself.

Hope this helps.

@Shaun Robinson

I see you’re a Pro member. There is a webinar amount market data research done for bigger pockets insights that goes over how to use the data available to select your prime markets.

The caveat I would add is you likely want some connection to your investment location of choice. Friends, family, business connections or a desire to visit occasionally. Something that makes that market work for you. And a way to start networking there.

@Brian Denvir

I think so but in my mind if the numbers don’t work with a PM then it’s the purchase price that is likely the issue. If the property doesn’t make money with a PM then I paid too much.