All Forum Posts by: Ben Hooper

What cap rate are you getting there?

@Amanda Dallman in other markets that i currently have property in, im getting about 15%, something in line with that at least

I'm looking to add another property to my portfolio. What areas in washington state have good cap rates for short term rentals?

I'm looking to add another property to my portfolio. What areas in washington state have good cap rates for short term rentals?

Thanks for the recommendation @John Oden I just checked out their website

I've been manually applying rules (1 night min stays, 10% discounts, etc) based on how close unbooked nights are coming up. Is there any software that could do this automatically? I've toyed around with the idea of making a python script to automatically do this if not

@Julie Hill Since it looks like no one's mentioned it yet, this might give you a quick insight into good markets. Scroll down the page and look for cities above the line for good performance.

https://www.airdna.co/blog/best-places-to-buy-a-va...

@Julie Hill I've got two listings in atlanta, there's been meetings discussing regulating it. It looks like the regulation will go the way of permitting and hotel-style taxation

@Chris Capone

1. check out airdna, it'll help you evaluate whether similar listings in the area are profitable

2. Remote management isn't hard, but it is something that would be challenging for a first timer. Im glad i first got a condo down the street from where i lived and then got another property in another state. I learned the basics of hosting and could quickly address a problem myself.

3. I just stayed in a park city condo that sounds similar to the one you're looking at. It was pretty basic, mostly just kitchen, bathroom, beds. The biggest things i noted could be improved were missing basics like sugar, coffee, working tv, good internet, and just good decorations that i expected for a ski location, instead of the random incongruous ones there. I'd assume for a ski location, guests are primarily looking for closeness to the slopes and a comfortable place to stay. It sounds like the condo already has some good amenities to attract guests.

4. 50% sounds like a rip off. The average i've seen for property managers is 20%. Self managing is even better once you get the hang of it.  

@Joshua Feit I'm in exactly the same situation. I have two listings in atlanta and bought one in pigeon forge last year, i'd love to get together and swap ideas