Short Term Rental From Scratch

[Peter Francis]

Hello, I have a few short term-rentals that are lease arbitrages and partnerships with fully furnished apartments. I have come across a unit that would be perfect for what I am looking to do but the unit is not furnished.  Does anyone use a uniform check/inventory list for supplies/furniture (it is a 1 bed/1 bath) or have any experiences/tips that they have come across furnishing their own unit(s) from scratch.  As always thank you so much for the help, it is very much appreciated!

[Paul Sandhu]

Donate unused items from your own personal residence to the STR house. My wife and I got married. She had a 4BR house full of furniture in a house that was for sale. I had an empty 2 BR house sitting vacant. We furnished the 2 BR from her 4BR. The 2BR paid $350/month as a LTR. We put 4 beds in there, and charged $210/week for each bed. It took about 5 days before we found 4 guys to rent it.

They didn't speak English. I knocked on the door each week and they handed me $840 and I gave them a receipt. This went on for 2 months and they moved out. Within 60 minutes some of their friends called me and wanted the house. Same story, no English, just $840 and a receipt for another 6 weeks. They moved out. Some of their friends called within 60 minutes and wanted it, but there were just 3. By now we had a 2nd 3BR STR up and running bringing in $800+. There were 9 guys in there. One bathroom. So we bought a big 3 story house with 4 full baths and a jacuzzi and that brought in a 4 digit number every week until and beyond the house paid for itself. We bought another and another and then my wife quit her day job to be a full time cleaning lady.