All Forum Posts by: Will Parks

@Kevin Petersen if you haven't found anything yet send me a message, I have a few contacts in the area

Looking to network with other STR hosts in the western NC mountains. I am currently attempting to build a network in Sapphire, NC but starting to spread my reach a little farther out. If you are located in such areas as Highlands, Glenville, Tuckasegee, Rosman, or Brevard I would love to hear about your journey with STRs. I would be happy to share any resources I have in my area.

Had to comment because you have the same name as my brother.

Anyways, love the strategy and would love to keep up with your successes over in Murphy. Looks like there's some good lakes & hiking, and proximity to Nantahala. I am very recently under contract on a place in Sapphire, NC, planning to STR as well. Best of luck to you.

@Wayne Brooks maybe I misspoke, they would look at projected str income for the "DSCR", but you're right the appraisal should come from comparable sales

Good Afternoon All,

I am looking to assemble a STR team in the Sapphire/Cashiers/Highlands region of western North Carolina. The team members I am currently searching for are as follows:

cleaner, handyman, plumber, electrician, and yard care professional

I certainly don't expect anyone to just give me their top notch cleaner they've been using for years, but if you all know someone in those areas that has the bandwidth to take on additional clients a reference would be much appreciated. I hope to one day return the favor.

@Stephanie P.

It seems you are correct, 10% is too risky for investment lenders. I will most likely be going with VISIO lending, they require 20% and a DSCR >1.2

One of the only I've found that appraise a property on a short term basis (STR friendly).

Thanks for the insight

Hi everyone, trying to put together my first str deal and have some unique circumstances. Do either one of these types exist out there?

1. 1. A lender that will qualify "rent-by-room" rental income. House hacking a single family with a year long lease in place, but this seems to be a hurdle for most lenders' guidelines.

1. 2. An investment lender that will qualify based on the strength of the rental asset AND allow the borrower to put 10% down.

My location: Raleigh, NC

Property location: Sapphire, NC

Is it advised to work with an out of state lender if they give you the terms you're looking for or best to keep it local?

Hi all! I am looking to connect with any of you out there that operate short term rentals in western North Carolina, specifically the areas of Sapphire, Cashiers, and Highlands. If you do I would love to speak with you! If you happen to know any str owners or RE professionals that work in those areas I would love to speak also. Grateful for this community!