New Member from Traverse City, Michigan

[Trevor Mitchell]

My name is Trevor Mitchell. I am 24 years old and currently work in sales for Pella Windows and Doors in Traverse City, Michigan. I have more experience in the new construction side of real estate but I have been interested in REI for about 5 years. I do work full time (about 50 hours a week). That being said, my goal in the next year is to complete my first flip. I do enjoy networking, so if there are any other Real Estate Investors in the Traverse City that would like to meet up for a drink/coffee brain picking session, that would be awesome!

[Alaina Korreck]

Hey @Cara Kennedy- short term property managers typically take a bigger bite of gross rents than your long term managers but there are a lot of companies up here that only do short term/vacation rental. Rates usually hover in around 30-40% of gross rents (crazy I know). When I sell a property I also offer my management to clients at a lower rate but I've been doing this a long time and can more easily cover time and expenses than some of the companies holding overhead. Properties managed at higher rates can still turn a nice profit but because there's so much fluctuation with vacation rentals and seasonality you want to make sure your manager is adjusting prices weekly, if not daily to match market and demand. It requires near-constant attention.