Tristan

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Tristan

Tristan

@TXStrGuy

Texas. Investing in STRs & CRE. Hook em'. [email protected]

Texas, USA Katılım Aralık 2021
437 Takip Edilen9.3K Takipçiler
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Tristan
Tristan@TXStrGuy·
I spoke with 153 hard money lenders over 2 months trying to find acquisition debt on my latest deal. I naively thought most were actually "private" lenders, and therefore capable of getting creative and competitive. Wrong. Here's everything I wish I would've known beforehand.
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Sean Meyer
Sean Meyer@meyer995·
@DFWscanner are there fighter jets flying over Dallas right now? Pretty loud for landing aircraft at Love Field
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Tristan
Tristan@TXStrGuy·
@TheREDevGUY These prices are seasonal. Calendar strategy would be different and market specific for year round
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Tristan@TXStrGuy·
Calendar management on an Airbnb in a summer market is make or break. 3 months are your entire year, so planning starts in December. Minimum nightly stay rules are key. No Saturday check-in/out Dec - 5 nights Mar/Apr - Su/Mo: 3 nights. Tu: 4. Thu: 3 Apr/May - Adjust for gaps
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Tyler
Tyler@TBitTwo·
@TXStrGuy I'm on spring break but I feel like I could find better. Issue is seasonality? 80 ltv is a bit tight.
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Tristan@TXStrGuy·
Spent the last few weeks looking for a DSCR loan for a rate/term refi on the river house. Tough to find lenders willing to go to 80% LTV in a small seasonal market, especially on an Airbnb. Best term sheet I've gotten so far. No escrow. Not terrible!
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Tristan@TXStrGuy·
@ddraghinas Yep, gonna see if I can negotiate some IO
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Harrison Vann
Harrison Vann@vannman26·
@TXStrGuy They got the asparagus recipe in the air fryer right tonight. A small win
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Tristan
Tristan@TXStrGuy·
@farango77 Yep, kept the PM on when I bought in 2023. Didn't go into the deal thinking of it as a true STR investment so I was happy to be hands off. I wasn't as happy after reviewing 2024 YE numbers tho
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forealdough
forealdough@farango77·
@TXStrGuy So previously, you had a property manager in 2024 is that correct?
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Tristan
Tristan@TXStrGuy·
@geoff_l Year round occupancy is ~30%. Everyone does well in the summer, so it's really about maximizing those months with length of stay changes and pricing. Otherwise, big focus on listing differentiation during the offseason because the town is absolutely dead
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Tristan
Tristan@TXStrGuy·
@geoff_l Same. It only looks low because occupancy was like 18% lol
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Geoff Langenderfer
Geoff Langenderfer@geoff_l·
@TXStrGuy how is your cleaning so low? I'm getting quoted $200/clean in seattle for 4bd/2ba
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Tristan
Tristan@TXStrGuy·
@unforgivnbastrd They did about $33k at 95% occupancy for the same months. We're at $38k at 64% occupancy right now. Just better calendar management and pricing!
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rebornbastard
rebornbastard@unforgivnbastrd·
@TXStrGuy Business is booming now, eh? Am I reading that right?
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Tristan
Tristan@TXStrGuy·
@EddieCoates Hospitable. Decent reports, integrates with Quickbooks. Big fan of the simple UX. Other platforms I've used tend to overcomplicate and overcharge with lots of useless features
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Eddie Coates
Eddie Coates@EddieCoates·
@TXStrGuy What PMS are you using here? Looking for the right platform that also has bookkeeping capability.
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Tristan
Tristan@TXStrGuy·
Plans for Longhorn Lodge just about done. - 7,499 sqft w/ pool & hot tub - 4 bedrooms + bunk & theater room - 2nd floor bar + game room + rooftop patios - 5 cabins each w/ barrel sauna - Pickleball courts, par-3, turf area w/ projector - Sleeps 30 🤠🤤
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David Draghinas, MD
David Draghinas, MD@ddraghinas·
@TXStrGuy Congrats! Will this be rentable individually, the entire development, or both?
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Tristan
Tristan@TXStrGuy·
@DMAC_19 @DallasAptGP Didn’t use a broker. I was under contract for a few months with multiple extensions before I felt like I was wasting time interpreting how to permit or plan development of a parcel with title, appraisal, city, & geo referencing diff legal descriptions across different rec instr.
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Tristan
Tristan@TXStrGuy·
@TaylerWTibbitts The frustrating part is that they’re great attorneys. Big firm. I worked with them on several deals at my last dev job. Good enough that I reached when I went solo. This is a “residential” deal so it’s almost like someone said whatever just bill it. Pretty disappointing.
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Tayler Tibbitts
Tayler Tibbitts@TaylerWTibbitts·
@TXStrGuy Man this is disappointing to hear. The bar to being successful as an attorney these days is low: 1- respond to phone calls and emails within 24 hours (quicker is better of course) 2- charge a reasonable fee 3- meet reasonable deadlines 4- keep your clients up to date
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Tristan
Tristan@TXStrGuy·
@RyanDanz Wait holy shit this is exactly where I recognize you from outside of X lol
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@meyer995 @DFWscanner @TheREDevGUY @TBitTwo @ddraghinas @vannman26 @farango77 @geoff_l