All Forum Posts by: Yu Liu

1. My responses are in bold:
   Have you ever owned or managed a property within an HOA community and offered mid-term rentals? If so, what were your experiences like? Did you face any unexpected challenges or restrictions from the HOA?
   I have 2 STR/MTRs that are in HOA and they don't bat an eye, probably because the HOA fee is low and is only taking care of lawn and stuff. 
2. How supportive were the HOA board and community members towards mid-term rentals? Were there any specific rules or bylaws that impacted your ability to rent out your property for mid-term stays?
   None for me and they don't check for me, I would read the bylaws but yea for me no issues.
3. Did you find that mid-term rentals in an HOA community attracted a different kind of tenant or presented unique advantages compared to other rental strategies (e.g., long-term or short-term rentals)?
   MTRs attract seasonal workers/travelers. All of mine have been contractors specifically or students that are staying for only a year. Got some inquiries from travel nurses as well. LTR people are more likely to be families
4. Were there any particular strategies or approaches you found effective in navigating the HOA regulations and maintaining positive relationships with the board and other community members?
   I think as long as you maintain good relationships with the neighbors, you shouldn't have a problem. Also, if it's a MTR there should be no issues as they would likely be similar to regular long term tenants or even better
   
5. In terms of financials, how did mid-term rentals in an HOA community perform for you? Did they generate consistent income and yield satisfactory returns on your investment?
   My MTR bookings does about $2K more a month than I could rent it out as a LTR so financially it made sense, I've only had mine running for about 4 months and 2 months it was a STR so keep that in mind
6. Lastly, would you recommend pursuing mid-term rentals in an HOA community to fellow investors? Why or why not? Are there any red flags or considerations one should be aware of before diving in?
   Yes as long as the numbers make sense. account for more vacancy unless you can do STRs between stays. Just make sure the HOA is operating effectively, have heard horror stories where the HOA management was not doing its job well and requested a capital call of additional amounts to address common maintenance items. 

I have a friend who is renting to an arbitrager and they have no complaints so far. It really depends on what you are comfortable with. If you are concerned about the wear and tear, I would vet them and ask to see if they have other properties in the area and if you can visit them to see what condition they are. My friends also asked for first and last months deposit I believe. 

I have STRs and they are in better condition than my LTRs, it really depends on the operator too. 

Hey Shalie, you might want to include which markets you are interested in, how much you are able to put down on the property, and any other information that would allow someone to be of more help.

I recommend going to local real estate meetups via meetup, fb groups in your area (Vegas has a lot) and just reaching out to people and asking to connect and have specific questions in mind

What is your goal, $500/month cash flow? $200? Do you want equity? I would look into wholesaling it/flipping it if that is an option aka you can assign the contract to someone else as that sounds like it could be a possibly good deal but always be transparent. 

Sounds from the post, you plan on holding it long term. If you hold it long term, determine your numbers and work backwards so that way it's a win for you and a win for the seller. Maybe negotiate a longer term, interest only payments for the first couple years as you mentioned or very low interest. Have that conversation and see where it leads. Hope that helps!

Would love to hear more updates from you with this

Would love to hear more about this market as well!

Had a friend that was looking into a MF property in a B class area, broker wanted about $145K per unit with a mix of 1/1s and 2/2s. Will ask what the cap rate for that was

@Alexander Szikla just to clarify, to do STR/MTR in NYC it has to be a SFH of 30 days or more and if it's more then 1 unit but less than 3, you have to live in one of the 3 units?

Can you have multiple SFH and do MTR?

I have a friend that is a STR and MTR property manager. Happy to connect you with them!

I know some people in Vegas, feel free to send me a message

I would be happy to take a look and help advise