All Forum Posts by: Bubba McCants

 Thank you for the input!

Hello BiggerPockets Community!

We are in the midst of an exciting period of growth for our property management company. Currently, we have a portfolio of 35 long-term rental properties, and we're managing these with the help of Yardi Breeze. Our team has been quite satisfied with its capabilities for long-term rentals.

As we look to the future, we're planning to expand into the Short-Term Rental (STR) market within the next few months. With this new venture, we are seeking advice on the best software solutions that can efficiently handle both Long-Term Rentals (LTR) and Short-Term Rentals.

I'm reaching out to fellow property managers and real estate professionals here:

• What software are you using that adeptly manages both LTR and STR?

• Are there particular features that you've found indispensable for managing STRs?

• How does your software of choice streamline operations and enhance guest/tenant experiences?

• Is there one that integrates smoothly with Yardi Breeze, or would it be better to switch to an all-in-one platform?

I'd deeply appreciate any recommendations you can share based on your experiences, as well as any tips or potential pitfalls to watch out for as we navigate this expansion.

Thank you all in advance for your time and insights!

Best Regards,

Don Cooley

Southern Belle Property Solutions

Completely agree with you, I am a Real Estate Agent in Panama City Beach, Fl.  and the long term growth is where it is at!  We are constantly having to change with the market and keep up on the trends.

 Hey @Jonathan Klemm, hope you are doing well in Chicago!

1.)  Look more into a long term hold strategy, if I can get an interest rate where I can break even or even go in the Red a little where the house is being paid for mostly by the tenant then I will look towards the appreciation down the road.  Also look into refinance down the road as well.

2.) I agree with you always buy!  kind of like stocks or crypto, Dollar Cost Average is how I look at buying Real Estate.

3.) Rents have increased tremendously since our area got hit by Hurricane Michael, we had a vast shortage of rental properties, and prices went way up!  Now with the economy the way it is the prices have not come back down and probably have increased a little more.  Property taxes and Insurance in our area is the biggest factor we are dealing with.  We are still in hte process of buying when we find the deals we can work with.

4.)  The rising costs can erode profit margins, make renovations more expensive, and increase holding costs. On the other hand, real estate is traditionally seen as a hedge against inflation. As costs rise, property values and rents often increase as well, which can benefit long-term investors.

5.) I am like you, try to stay on the cutting edge of technology as I believe if you do not you will be left behind, especially in the real Estate industry.

Hello BiggerPockets Community!

I hope everyone's investments are thriving as we navigate the ever-changing currents of the real estate market. I thought it would be valuable to kick off a discussion about the latest economic headlines and their impacts on our strategies.

1️⃣ Interest Rates on the Move: With recent fluctuations in interest rates, how are you adjusting your financing strategies for acquisitions and holding properties?

2️⃣ Housing Market Predictions: Analysts have various opinions on the housing market's trajectory. Are you bullish or bearish in the short and long term, and how are you planning to adapt?

3️⃣ Rental Market Trends: As rental demands shift, particularly in urban vs suburban areas, what trends are you noticing, and what moves are you considering?

4️⃣ Inflation's Double-Edged Sword: Inflation means various things for real estate investors. Costs are up, but so are asset values and potential rent increases. What's your take on this?

5️⃣ The Tech Transformation: From PropTech to TikTok marketing, technological advancements are changing how we interact with real estate. Have you adopted any tech-forward approaches lately?

Let's leverage our collective wisdom to gain clarity and confidence in our investment decisions. Share your insights, experiences, and strategies in light of these current events.

Looking forward to an enriching exchange of ideas!

Hey fellow flippers!

Have you ever tackled a flip that took a surprising turn? Whether it was a hidden gem of a find or a seemingly minor hiccup that turned into a full-blown project detour, we’ve all got stories.

I'm eager to hear what your most memorable house flip was like. Here's what would be great to share:

1. The unexpected: Did you uncover any surprising elements during the flip?

1. The triumphs: What were your biggest wins?

1. The learnings: Any particular lessons learned that you can pass on?

Your experiences are invaluable, whether they're wins or lessons, and they enrich us all. Let’s share and grow together in this flipping journey!

Looking forward to your stories below!

Hey Bigger Pockets Community!

As a real estate agent in an ever-evolving market, staying ahead of the curve and keeping sales momentum up are crucial for success. With the landscape constantly changing, it's vital to adapt and find innovative ways to not only reach buyers and sellers but also close deals efficiently and effectively.

Here are some strategies I'm looking to discuss:

1. Digital Marketing: Have you transitioned to an online-first marketing approach? What platforms are bringing you the most success?

1. Virtual Showings: Are virtual tours and open houses becoming a staple in your selling process? How are you leveraging technology to enhance the buying experience?

1. Local Market Expertise: How do you position yourself as the go-to expert in your region? What type of content or advice do you share to build credibility?

1. Creative Negotiations: In your recent deals, what creative tactics have you used to negotiate successfully on behalf of your clients?

1. Networking Strategies: With many events going virtual, have you found effective ways to network and generate leads online? What's working for you?

1. Client Retention: How do you keep your clients engaged post-sale, and how does this help with referrals?

I'm eager to hear your experiences, tips, and even the challenges you face. Whether you're a seasoned real estate veteran or fresh in the industry, your insights can help us all grow.

Let's use this space to collaborate and inspire each other. Who knows, the next great strategy might just come from this very conversation!

Hey Bigger Pockets Community!

I've been closely following the developments of the National Association of Realtors (NAR) settlement and its potential impact on our industry. As many of you are likely aware, this settlement is poised to bring some significant changes to how real estate transactions, especially regarding agent commissions and MLS listings, are conducted.

Here's a quick rundown of the key components:

1. Transparency in Agent Compensation: One of the major shifts will be the removal of agent commission info from MLS listings. This means that discussions and negotiations regarding commissions will take place privately, outside the MLS.

1. Written Buyer Broker Agreements: Agents working with buyers will need signed agreements prior to home showings, which should clearly define the services and compensation.

1. Seller Concessions Rules: Sellers can offer concessions through MLS (like buyer closing costs), but it cannot specify buyer agent compensation.

1. Agent Compensation Promotion: While agents can promote buyer agent compensation on their websites for their listings, it cannot be offered on the MLS or any collective/shared environment.

These changes are set to go into effect in mid-July 2024, subject to court approval. This has been a hot topic, raising both concerns and questions among professionals and consumers alike. Some agents worry about how it will affect their business and client relations, while sellers and buyers are trying to grasp how it might impact their transactions.

As a community devoted to real estate knowledge and empowerment, let's dive into this together:

• Agents and Brokers: How do you plan on adjusting your listing and showing strategies once these changes take effect?

• Investors and Sellers: Does the idea of a more private negotiation around commissions affect your decision to sell or hold your properties?

• Buyers: How do you feel about the requirement for written agreements before seeing homes? Does this add a layer of trust or complexity for you?

This platform is a great way to share strategies, perspectives, and insights. Personally, I'm particularly interested in discussing how we can maintain – or even enhance - transparency and trust with our clients amidst these changes.

Looking forward to a robust and enlightening discussion!

Name your favorite city and state to invest in for single family home flips! Looking for outside opinions... Thanks

We are in the process of building a property management company, does anybody have a simple Property Management Agreement you can share with me?  Just looking for one the works for the homeowner and is simple to understand.  Thank you!