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All Forum Posts by: Dana Boyd

Dana Boyd has started 18 posts and replied 43 times.

Post: STR Management Agreements

Dana BoydPosted
  • Rental Property Investor
  • San Francisco
  • Posts 44
  • Votes 28

Hello! For those who have STR's and have a 3rd party management company in place - do you collect income directly and then disburse a percentage to the management co for their services, or do they collect all income for you and then disburse a payment to you? Thanks.

Post: Under Contract. Now What?

Dana BoydPosted
  • Rental Property Investor
  • San Francisco
  • Posts 44
  • Votes 28

Hello! I have my second short term rental currently under contract. This is one is different than the first because the current owner will be retained as the manager for the first year. Given this scenario, I'm not sure exactly what I need to be doing during this period while under contract. Normally, I would be putting together the floor plan and purchasing furniture, but since the place is furnished and the management is staying place, not sure what else I should do right now. Review the management agreement? Any suggestions? Thanks BP Community! 

Post: Rural Property - What to look out for?

Dana BoydPosted
  • Rental Property Investor
  • San Francisco
  • Posts 44
  • Votes 28

I own a property in a remote area by Cold Springs (outside of Sonora) and its almost impossible to find vendors to service the property. I would definitely make sure you have vendors lined up before you close. 

Post: Are you accepting less CoC Return due to interest rates?

Dana BoydPosted
  • Rental Property Investor
  • San Francisco
  • Posts 44
  • Votes 28

Are you accepting a lower CoC return than you historically have due to interest rate hikes? I am finding it almost impossible to find a 30% return (the gold standard for STR's) due to interest rates being this high. Are folks accepting less of a return, ie. 15 - 20%, now that rates are this high? Thanks.

Post: STRs in Tuolumne County, CA. Let's Connect.

Dana BoydPosted
  • Rental Property Investor
  • San Francisco
  • Posts 44
  • Votes 28

Hi @Haile Shavers. Nice to connect! There have definitely been many surprises along the way and lots of lessons learned getting our bnb set up. We've been doing a lot of work on the house but most of it has been minor cosmetic stuff. We did have one contractor re-pave our driveway but other than that, we haven't had any actual construction work done on the house, so I haven't used any contractors. Wish I had a better rec for you. Maybe others in the area have? We were fortunate to buy a house that was almost entirely turn key so construction wasn't needed. Take care. 

Post: iGMS vs Guesty vs Hostaway for STR calendar syncing

Dana BoydPosted
  • Rental Property Investor
  • San Francisco
  • Posts 44
  • Votes 28

Any thoughts on pros and cons of each? I'm currently using iGMS and its a little complicated. Wondering if Guesty or Hostaway are more user friendly. Thanks! 

Post: House Cleaners in the Sonora Area, CA

Dana BoydPosted
  • Rental Property Investor
  • San Francisco
  • Posts 44
  • Votes 28

Hi everyone. Does anyone have a house cleaner who is looking for more work in the Sonora area? Closing on our first airbnb in a few weeks and looking for a house cleaning team. I've called about 15 so far but no luck. If anyone has a team in the Sonora area and would like to refer them more business, please let me know. Thanks all. 

Post: STRs in Tuolumne County, CA. Let's Connect.

Dana BoydPosted
  • Rental Property Investor
  • San Francisco
  • Posts 44
  • Votes 28

@Adam Poffenbarger Its Caldwell Insurance in Sonora. Phone is 209-532-5102. They are using the CA Fair plan in their quote about its about $6.9K annually. Insane. I'm getting nervous that the area is eventually going to become unlivable because of the prohibitive cost of the insurance. We shall see. 

If enough people reach out, eventually it would be great to start a meetup group for STR investors in the area. Let's keep in touch :)

Post: STRs in Tuolumne County, CA. Let's Connect.

Dana BoydPosted
  • Rental Property Investor
  • San Francisco
  • Posts 44
  • Votes 28

Thanks @Adam Poffenbarger. Nice to connect. Two quick questions for you right off the bat - Is Arnold under water drought restrictions also? If so, have you felt the effects of these water restrictions in your rentals? Meaning fines by the city, etc.? Also, are you still able to get property insurance? There is one and only one insurance company in town who will insure the property due to its fire risk. Have you had a similar experience? Thanks again for reaching out!

Post: is there a way to look up how much a specific airbnb makes?

Dana BoydPosted
  • Rental Property Investor
  • San Francisco
  • Posts 44
  • Votes 28

@Bruce Woodruff Its only AirBNB. So it doesnt take into account VRBO, private bookings, etc. I not sure exactly how close it is to an exact estimate because I'm sure each place is different. Before we made our first purchase, I looked at the data on Mashvisor, AirDNA, actually listings on AirBNB, compared them all, and made my best educated estimate for what I forecasted revenue to be for the property. AirDNA has more data besides just numbers from AirBNB than Mashvisor.