All Forum Posts by: Andrew Steffens

I got to about 10 properties before I started paying for softwares.  I would just have 2 apps (ABNB and VRBO) and 1 spreadsheet (with multiple tabs) and call it a day.

Speaking from the POV of a PM and broker in the Tampa market:

The returns are not linear and there also is not a rule. I could not tell you a $500k will generate 12% CoC and a $750k property will generate 18% CoC. What I can tell you is typically $300-400k is the entry level into SFR STR's and since it is the lowest bar to clear there is more supply in this category leading to price competition and lower returns. Going up to the $500-700 rung gets you a bigger house with more amenties and naturally a higher return. The best returns I see are usually $700-$1M. Much lower competition and really beautiful properties generally produce the best results. Above $1M or so you start to see diminishing returns.

As far as answering your questions, if it were my market I would likely buy 2 properties to spead risk primarily.  In my market there are 2 submarkets, one being the beaches and the other being Tampa proper.  If you bought 1 in each you could hedge risk a bit while still having good returns on 2 properties.

Good luck!

I have heard good things about Houfy and Lodgify from self managers / previous self managers.

Well on roku you can download FOX, CBS etc and log in to watch live NFL...

Congrats and good luck! That is quite niche and although there is some good tips here I would check Facebooks groups as there may be a specific group for this very niche.

Well if you do buy one make sure it performs well...

Wow good to know to screenshot listings for personal use.  I do know Airbnb logs listing changes as its come up with guests accusing us of that in the past.  Sorry!

Hey John - This is pretty niche and this is a more broad group, so if you do not find success here I would maybe look for DR specific host groups that maybe can help.  Personally, I have a statewide (FL) limited service offering that handles booking, pricing, marketing and more at 10%.  It includes everything except maintenance and housekeeping management.  The only reason I do not go nationwide is because every state has different licensing requirements, but I am actually about to launch a flat in London so more than capable to do international if that is of any interest.  Good luck!

Hey Bob

I always advise my clients to budget $20/ft all in cost for a professionally designed and fully outfitted.  If you do it yourself probably $15-17/ft.

While I appreciate trying to save money I think it is important to mention STR's are competitive to downright saturated in most every market so thrifting is not a sound strategy nowadays. You should also spend extra for durability when it comes to couches, tables, bed frames, and mattresses etc. If you buy cheap you'll end up replacing much quicker and ultimately spending more.

Hope this helps, good luck!

This is a nationwide group so you're likely best trying to connect on local FB groups.  Good luck!