All Forum Posts by: Anna Gordon

Investment Info:

Single-family cabin investment. I am an officer in the uniformed service and operate out of Alaska. My cabin is in Georgia and I will be moving to Asheville in June 2024. 

First Short-Term Rental! I've learned a lot and will continue learning. I need better pictures- I paid two different "professionals", (one through Airbnb and another was local) but don't have the results I am looking for. I'm hesitant to get another professional to take pictures because I'm planning on making renovations. 

I'm considering mid-term rentals. If I do not pursue mid-term rentals I was thinking of adding a full/ twin bunk and day in the loft. 2024 I will be completing the deck, improving the garage, and maybe a bathroom upgrade. I am open to tangible suggestions and recommendations. 

 https://airbnb.com/h/serenitywoodsblueridge

Investment Info:

Single-family residence other investment.

Hi @Bonnie Low thank you for providing so much information! It sounds like you are recommending that I use a different platform other than Airbnb. I know they take out a lot of taxes but there is some protection with using it.

Will have have more protection if I do a separate lease?

I did not complete a background check but I did a google search of the guest and their business and location. It checked out.

I don’t have a separate bank account do any part of my business. This is something I’ll need to look into.

I have a previous guest that would like to rent my place for 3 months. What are things I should consider?

My STR has been live for about 9 months and I'm happy where it's currently at. I have a guest that wants to stay for about 3 months while their home is getting built in the area of my STR. They have stayed with me before and had no issues. I also did a little research to validate the who they are since it would be longer stay. I know my county would only allow 28 days at a time in order for it to be considered a short term stay, so I was thinking for requiring to book only 28 day blocks at a time. I also informed them I will still need to maintain maintenance.

My question are: Should I commit to it? If so what should the stipulation be? Will this alter my algorithm in Airbnb and VRBO? What should I consider and have ready when I have a conversation with the guest? Thank you for your guidance it’s greatly appreciated!

@Paul Sandhu do I talk to my lender or realtor about the closing cost?

@Marshall Leipprandt thanks for replying, I have an estimate report! I haven’t analyzed my deals yet because I was working on getting pre approval letter first. I’m nervous I’m going to get cold feet so I was thinking I’d just go for it. Should I be doing this differently?

Hello,

I am working on purchasing my first short term rental but haven’t found a good reference for analyzing the closing fees and understanding the funds needed for closing. I may be over analyzing it but I want to make sure I’m set up for success prior to committing. Thank you for all your guidance!

Thank you all for your professionalism, time and insight. I am grateful to have the space to inquire and receive information from experts and professionals such as yourselves! Although, I have decided not to pursue the property that was contingent, I have learned a lot from this property. I am also looking forward to connecting with suggested contractors and investors! Thank you again!

I’m working on purchasing my first rental property. Ive been focused on purchasing a duplex in the Woodlawn a Chicago neighborhood. It’s with a 10 minute drive of where the Obama library and Tiger Woods golf course is anticipated to be built in the next 5-6 years. I know the area is a bit dicey and the building are older so many of them will need work and aren’t in the best condition. I’m working this while on military orders so I need to trust my realitor but the last couple of deals I’ve been contingent on have fallen through due to the building not being structurally sounds, but this is only after the home inspection has been paid for. I asked a contractor to look at the home inspections to get a better idea of the issues within each building. The contractor indicated that the issues with the properties are obviously and that I didn’t need to pay for a home inspection to see the major external issues or the piping issues.

My question is, do I need to find a realitor with more experience or am I doing to run into this problem because of the location I am looking in?

Should I look into a different state or town? Thank you in advance for any input!