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👁🗨 Sesemi STR Hot Sheet | 📲 STR Mortgages
Dear Sesemi STReet Subscriber,
Thank you for your continued support as we strive to deliver the most accurate vacation rental and multi family investment insight and prospects along the Oregon Coast and beyond, hosted by OR & CA RE Broker Anthony AJ Wong.
🦀 July News & Closings:
Following our largest month of closing volume ever in June, July is off to a HOT start. We have several client’s pending on prime vacation rental eligible homes! One example of preparedness creating opportunity is a multi family commercially zoned property just outside Lincoln City. Our client’s were able to virtually tour the first day of listing, submit a strong offer and tour within 72 hours of the home reaching public listings. Their offer was accepted and they are in contract to close within the next 30 days. Timing was critical to execution. 🏁
Our vacation rental clients continue to perform! All of our previous STR client’s (25+ and counting..) have or are in process of launching their vacation rental properties. For a full list of previously sold properties and a general STR overview visit our website HERE.
Still in the shopping process? Book a stay at one of our client’s live AirBnB’s! Maybe the stunning ‘Caddy Shack Chateau’ for a round or two in Bandon? ⛳️
Mortgage rates had an erratic week with an initial decline following higher unemployment rates and FED chairman Jerome Powell’s remarks that the FED would not wait to reach their 2% inflation target before cutting rates. Traders are now forecasting a 100% chance of a rate cut by September. 📉
Oceanview and access to water STR’s remain a prime investment category often with high competition and often short windows to tour, offer and close but fret not! Our HOT Sheet has never been deeper, at present we’re showing 170+ eligible STR properties along the entire Oregon Coast with roughly 1 in 5 pending. Browse ALL active and eligible Oregon Coast vacation rentals listed for sale on our invite only STR HOT website SESEMI SHEET updated daily! Text for secret passcode. 🔮
🏘 1 - 2 - 3 / S-T-R / B-N-B : Our Proven Process
If there is an underlying theme to our client’s and team success it is that preparation meets opportunity. Optimal vacation rentals are not easy to find and even more difficult to acquire. Why? It is the most popular and profitable residential asset class and at least in Oregon the housing options are limited to begin with. Since the pandemic the secret is out on the Oregon Coast and if you’re looking to host the AirBnB instead of visit it, there are a few steps buyers can take to tilt the odds into their fortune and favor! 🗣
First and foremost, you’ll need a RE Professional that can help you navigate the jurisdictions, identify quality prospects, qualify eligibility and execute tours and offers rapidly. Secondly, you will need a strong lender and pre approval. Thirdly, you’ll need to commit fully.
The next step is to get organized. We like to create a shared spreadsheet to collaborate with investors that helps to evaluate and eliminate prospective investments. Generally we’re able to narrow the list to 3-5 properties and in most cases close on one. The typical time frame from introduction to closing is 30-180 days all depending on inventory for the moment. On average the hunt can take 90 days of DAILY searching and analyzing. We’ll do 90% of the heavy lifting in advance to ensure we’re focused on eligible prospects.
The final step is to act when the proverbial door opens.. At least half our transactions are the result of timing. First to tour, first to offer and ideally finishing in first place..but that is not always the case. I’d say for every client that secures the property with the first offer, their is another that it can take 2-3 offers to get a property under contract. A good portion of RE transactions are still all cash so if you’re financing there is a risk of being outbid. Hence the third rule: Full commitment.
Ready to get started? Send us an email for your personal STR Hot Sheet. 🔓
🧩 Mortgage Rates and Incentives
In response to the forthcoming anticipated interest rate cuts mortgage rates have responded favorably. Hovering just below 7% at the time of publication. We have noticed particularly strong pricing on FHA, DSCR and JUMBO financing this week. The general consensus is that with any significant decline in mortgage rates buyer activity is expected to accelerate considerably. According to the MBA expectations are for rates to trend into the 6.5% range for 2025 and 5.5% in 2026.
💰Looking for a purchase mortgage, refinance or HELOC beyond CA & OR? Check out my strategic lending partner Nationwide Mortgage Bankers Bigger Pockets member only incentive offering a $550 appraisal lender credit!
🔑 Oregon ranks fourth in underproducing housing behind California, Colorado and Utah. As mortgage interest rates drop both long and mid term rental rates and demand should continue to grow. STR investors that do not need to take advantage of accelerated depreciation tax advantages could broaden their search to small balance multi family complexes.
📝 Here are TEN FRESH STR Picks this week on the OR Coast:
2624 NW Inlet Ave Lincoln City - 2/2 Commercial zoning for STR outright. OFF-Market pocket listing. New roof. Furnished. Now asking $405,000!
240 NE Rebel Rd Waldport OR - 2/2 with garage. City limits. STR eligible. Asking $415,000.
4801 Haceta Beach Rd Florence OR - 2/2 on acreage. STR eligible. Asking $450,000.
1326 Crissey Circle Brookings OR - 3/2 Active STR. Furniture negotiable. Just reduced to $484,500.
25120 Sandlake Dr Cloverdale OR - Dual living possible. Bayfront. STR eligible. Asking $534,900.
1240 Collis Ln Brookings OR - 3/2 Oceanview. R16 zoning. Back on market! Now Asking $729,500.
72290 Potlatch Rd Lakeside OR - 3/3 Lakefront active STR. Sold furnished. 90+ days to re-permit. Asking $715,000.
2571 SW Anemone Ave, Lincoln City OR - 3 / 4 Olivia Beach STR outright. Reduced to $999,900
9065 8th St Bay City OR - 3/3 custom built Bayview Homes. STR eligible confirmed with city. Asking $1,275,000.
87108 Saturn Ln Bandon OR - 4/2 walk to beach. Active STR. Off market, pocket listing. Asking $1.6M
👁🗨 Our exclusive STR HOT SHEET is updated daily and features 100+ active and off market vacation rental properties for sale. Search 24/7/365 at www.sesemisheet.com Text 541-800-0455 for the secret pass code!
BONUS: Here are 3 Top Multi Family listings in Oregon:
Harrisburg Duplex Asking $450,000.
Yachats Detached Five Cottages Asking $887,000.
Twelve Units + 7 More available Asking $2.1M
Thank you for reading this week’s edition of Sesemi STReet your premier information source for vacation Rental and investment property insight throughout Oregon & California.
P.S. As a licensed NMLS mortgage broker and VP of Business Development with Nationwide Mortgage Bankers we cohesively support investors with curated loan programs. If you are in contract or considering an offer on a property nationwide, feel free to forward your BEST quote to our team for a zero obligation second look loan review. For those pending, we offer a 24 hour full loan commitment to help you and your agent win the offer! Reach out to my strategic lending partner of 20+ years Joseph Chiofalo for optimized weekend Pre Approvals and professional mortgage support.
Ask about our premier mortgage programs:
Elite Jumbo & Super Jumbo Loan Rates
FHA, VA & Conventional
STR and AirBNB Mortgages
1-100 Units + Commercial
Expedited refinances and HELOCS
DSCR (Debt Service Coverage Ratio) Mortgages for 1-100+ Units
Ground Up Construction financing
Alternative income verification (1099, Bank Statement, Asset depletion)
Private & Portfolio Programs
Licensed Real Estate Broker in the States of Oregon & California Fathom Realty
FL NMLS ID: 2297941 and VP Business Development www.nmbnow.com
