All Forum Posts by: Andres Murillo

A good STR comp tool will allow you to filter for comps with/without pools. You can see how well each is doing in terms of occupancy and total revenue. If you'd like, I can PM you a free resource to help with this.

My first investment was a SFR. Now I own a couple of SFRs and a couple of duplexes. SFRs are going to reappraise faster - there's typically a ton more transaction volume of comparable properties compared to 2-4 units.

Are there any specific parts of the "deal analysis" you feel you need the most support with? Any parts you feel really confident with?

3-5% is usually what I advise in order to be competitive. You want to put the seller's mind at ease that you're not the type of buyer to cancel because of lack of funds. 

My buddy @Jacob Brenyo would be a great resource for your clients looking to purchase in FL. 

Ratings, photos, and listing descriptions should all be reviewed. 

There's a big difference between 4.75 and 4.85 - AirBnB recommends the best ratings first. The total number of reviews also factor in to how easy it is to find your listing on AirBnB. A good PM should be doing their best to generate reviews. 

Great photos combined with a floor plan photo go a long way in boosting occupancy as well.

The listing description can help boost how well the property ranks on AirBnB search. A compelling description that sells the story of your property (whether you have an elaborate theme or not) is proven to lead to more bookings. 

These are all essentially free to review and improve. 

Absolutely you should! Showing the inherited tenants that you're committed to the maintenance and integrity of your property will establish a lot of goodwill. As long as you communicate well with them and coordinate the repairs around their schedules as best possible I think you'll help the chance that they renew for a higher price.

Cleveland is tough - there's a ton of super similar inventory in most areas. Have you seen those competitors actually get leased or are they still in marketing as well? 

That being said I think you have to make sure your PM isn't only doing "self tours". You might have to find a leasing agent in the area to help with this but actual "guided tours" by your PM or agent can be really helpful. You need someone to sell your address over all the others.

In terms of seasonality - you might consider a reset lease term. A 12 month lease term would put you in the same seasonality next year. Try offering a 9-month lease. That would make your lease end date around May/June - much better seasonality. 

@Trent Reeve I guess it would depend on your #1 goal with the property itself. I have family that plan on covering 3-6 months worth of payments on their Colorado River property every year because they try and stay in it as much as possible over the summer. They really only rent it out during the winter/fall. For them, their goal is to have a place to stay and store their toys - it's helped to reduce hotel and storage costs drastically. 

I work with other investors who never want to step foot on their property. For those folks, we're focusing on finding positive cash flow month over month ASAP. 

Hey James! My advice is to make sure your tenant profiles match your PM. I've seen investors use "tech driven" PMCs because of their owner tools and pricing to the detriment of their tenant experience. I have a couple of tenants who can't login to a website and choose to drop their checks off in person - you'll want to make sure your potential tenant's habits match the tools of the PMC.