Startup cost for 2 bedroom STR condo

[Amar P.]

Hey all

Wanted to get some advice on startup costs and cash flow breakdown for 2-bedroom STR condos in the midwest demographic where most of your cash flow comes in the warm months. Specifically, we are in traverse city Michigan market. The reason I ask is we are pitching this model to friends that may want to invest and get involved and I want to build an accurate performa.

That being said, do you all have insight on what the original startup cost is for furnishings, small appliances such as coffee machines and first round of consumables (ie coffee, cleaning supplies, toilet paper etc)?

Also, any advice on how to explain how cash flow would work?  Should I break it down into seasonal cash flow?  If people are specifically in the TC market would love to hear what you see for cashflows in summer vs winter.

Thanks again!

[Andrea Cole]

We just furnished a 2 BDR 1,200 sq ft STR in High Point, NC. It cost us about $4k. I like sourcing items from auctions, thrift stores, and up-cycling so take that into consideration. If you're just going out and buying new, it will cost more.