Newbie with STR's can anyone help!

[Joe Davis]

Hey BP Team,

I have stumbled on STR's by chance. I wholesale, rent, and primarily owner finance but one of my investors is stuck in a rehabbed Harvey flood home post rehab.

His intention is now to AirBnb (+ all the other platforms) after I mentioned the idea. As he is out of state, he is actually just considering letting me manage it. I would pay him market rate ($1,700 per month).

1) Does anyone have a template lease I could borrow or find that specifically says we can list it on the market places?

2) Do you typically (if it works and i try and find more) pay the first months rent + deposit or structure that differ?

I intend to read all of your posts on these forums but thanks to everyone in advance. Would also love to hear the positives and negatives! Happy to trade advice or services also for any mentoring. Im licensed in Houston and sell 15-20 off market properties each month! I will also soon be sitting the RMLO to be a licensed mortgage broker.

Thanks!!!

[Luke Carl]

@Joe Davis Hum. If you're selling 20 deals per month there's no way you'd be interested in managing someone else's STR. Its a job.

It’s one thing if you own it and you’re looking for better than average cash flow. Why not Just buy your own with all that cash you’re  stacking up and forget about the management business.

Search this forum for “rental arbitrage”

Why is it your obligation to help this person anyway? Seems like a waste of time.

You're all over the place. Why manage a STR and why get your mortgage broker license?

You’re trying to do too many things just focus on what’s working. If you’re really closing 20 deals per month just keep doing that and stop messing with this other stuff it’s nonsense. 

Good luck!