All Forum Posts by: Bailey Kramer

Hey Keith! Furnished Finder has been my go-to for keeping my properties booking with travel nurses! My biggest tip is to respond to EVERY inquiry even if they have a lower budget than you want. A lot of times, they have more wiggle room in their budget than they initially say!

3 Votes

Here are the top companies I've gotten insurance bookings through. Curious to hear if anyone has others they've seen success with!

ALE Solutions

TaCares

THD Housing

Housing HQ

United Corporate Housing

(And I've also gotten from Airbnb and Furnished Finder)

1 Vote

I have a triplex and instead of getting each unit its own internet, I just got 1 unit it's own service and the other 2 units access it with the wifi login info. This saves me $100+/month and haven't had any complaints becasue each unit gets super fast wifi!

0 Votes

Saint Petersburg, Florida

Do you charge extra for pets?

I’m curious about what you guys charge for a pet fee (if anything). Or if you have any specific rules around pets I'd love to hear it!

I typically charge $100-$200/pet/stay depending on the property and how long their stay is.

What do you do?

0 Votes

Quote from @Waylon Bruce Moore:

Quote from @Bailey Kramer:

I use Hospitable for my STRS and MTRs! It makes it super easy to automate messages, notify my cleaners, and keep track of the calendar!

When I get a mid-term rental booking from insurance companies or travel nurses, I just create a "direct booking" inside Hospitable and it'll automatically change the door lock codes and send it to the guests too!

Happy to answer any specific questions as well!

@Bailey Kramer if you were to offer not only your typical 3 month rental with travel nurses but also one-year leases would you still stick with hospitable? Also with Hospitable do you load your listings in airbnb and pull them over?

Hey Bruce! So with Hospitable, if you're doing 1 year leases (long term rentals) then Hospitable wouldn't really do much for you. Because yes, the listings are pulled from Airbnb.

0 Votes

What are your favorite places to find vendors? (Cleaners, handyman, etc.)

Here's my top 3 places, but curious if anyone had any others they can share!

1. Thumbtack.com
2. Referrals & Facebook Groups
3. Google

2 Votes

I used to charge extra anytime a guest would request to check in early or check out late, but I’ve since adjusted my policy and allow guests to check in 1 hour early/check out 1 hour late for FREE (when available).

If my guests want to check in a few hours early or check out a few hours late, I charge them $$

Do you charge for early check-ins or late checkouts? Whats your policy?

0 Votes

As Winter is approaching, which is offseason for a lot of markets, I wanted to do 2 things:

1. Share how I'm preparing to CRUSH it this winter and not just "get by"

2. Collaborate and hear what you're doing as well!

What I'm doing to prepare for winter

- Contacting temporary housing companies like ALE Solutions, CRS Temporary Housing, United Corporate Housing, etc. to see if they have anyone in need of a mid-term stay

- Reaching out to my past guests to see if they are planning a repeat trip and want to stay at my properties again!

- Having patience LOL - I'm sticking to my game plan INSTEAD of just tanking my prices and minimum night stay rules like I see so many people doing!!

What are you doing to prepare for Winter/Offseason?

1 Vote

Quote from @Steve K.:

I have questions.... Which DSCR lender did you use for this? I'd be curious to know because none of the ones I've worked with would loan on this property. They all have a minimum loan amount of $100k, a minimum property value threshold of $150k, and they vet the buyer for experience (would not loan to a 22 year old in most cases) and credit score (680 minimum) plus require actual rent rolls/rental history at 1.25% DSCR minimum. Your monthly PITI on this would be around $860 with 20% down at 8.5% interest (closer to $11k/yr than your $7k number as Nathan pointed out), so actual rent roll and rental comps would need to be $1,075/mo minimum in which case why would anyone sell it turnkey and furnished for $115k in this market? You'd have to rent this every single night of the year for $88/night to hit your projected numbers. That doesn't seem possible in any location where properties can be purchased for $115k. If you're really getting $2,700/month with 0% vacancy on a property purchased recently for $115k, I'd love to know where that is exactly! It doesn't seem like a realistic scenario in my humble experience, sorry to say. Also why wouldn't you include capex and a reasonable vacancy rate in your numbers (these are #1 and #2 profit killers)? Also what is an "entreprenur" ;)? Thanks for sharing, it just doesn't seem believable, I'm with Nathan on this one. What are we missing here?

Hey Steve, thanks for your response! The biggest thing I left out by mistake was that I put down 30%! So the mortgage balance was $80K.

As far as DSCR Lenders I used offermarket.us/loans. I'm under contract on a triplex right now and I'm using them again (:

2 Votes

Quote from @Emily Shen:

@Nathan Gesner appreciate you digging into this! 😉 As a new investor, I don't always know the "missing" costs when someone does an evaluation but I know those #s can sneak up on you. Will be curious to see what OP responds with.

Yes absolutely!!!

0 Votes

All Forum Posts by: Bailey Kramer

Bailey Kramer has started 65 posts and replied 212 times.

Post: How do you attract travel nurses?

Post: Insurance Company Bookings

Post: Starlkink Internet Solution

Post: Charge extra for pets?

Post: Is Hospitable or Rentredi a better PMS for MTM or MTR?

Post: What are your favorite places to find vendors? (Cleaners, handyman, etc.)

Post: Do you charge an early checkin/late checkout fee?

Post: Winter Is Approaching (what are you doing?)

Post: NET REVENUE (NOT GROSS) from 1 of my properties

Post: NET REVENUE (NOT GROSS) from 1 of my properties