All Forum Posts by: Devin De Lange

Hi Joe, 

If you have access to your excellent review history, but it's not posted, you could create some sort of repository (landing page, etc.) and link it to your current listing (based on what the website allows). You could also link your property with another of your property's that has good reviews, so that potential clients can check the other reviews on the other listing to calm their concerns. If, however, you are starting out fresh, and it is appearing as a new listing with no reviews, you could market it that way by taking fresh photos and giving it a face lift with the summary calling out that it is a new listing. No reviews typically means a new listing, so that can be a risk for some vacationers, but for others an opportunity which you can market to.

Good luck! Hope this helps!

Hi Vittorio, 

MB is a pretty hot market for STRs especially if they are beach front or within walking distance of the beach. With that being said, there is high competition. When vacationing, people are looking for the perfect blend of affordability, comfort, and an experience (amenities). I would suggest researching the going rates for STRs in your location with something like Mashvisor or AirDNA. Look at the size of the unit, location, amenities and updates. Based on your analysis, price yours competitively. You can always start on the lower end and increase your prices, but being realistic about your property and charging a competitive rate for the condition and location are the key to getting it rented it out, even if the goal is only to break even. You will want to balance the above with your target audience, and be flexible to making price changes based on the competition and time of year. Once you get it going, use the customer's feedback to make the necessary changes to make it more successful. There may be a learning curve, but there always is, and it's worth it to get it going and adjust as necessary.

Good luck and congratulations! Hope this helps!

Hi Ryan,

1. Are you looking to expand your property management portfolio to manage other people's properties? If so, the LLC could be a good route to go to separate the expenses and income from yourself, and treat it as a separate business.

2. If the first answer is no, then it may be better to keep it as is. The IRS states: You can pay yourself a fee for managing your own rental property, but this may not be the wisest course of action. When you transfer money from your business banking account to your personal account, the IRS will see this as income, and you will be taxed accordingly. (Link for Blurb). 

Something I wish I would have done earlier on was follow KISS (keep it simple). I opened more LLCs, and got ahead of myself. More LLCs, more red tape, more documentation, more complications.

Hi Everyone, my name is Devin. I'm a real estate investor based out of the Myrtle Beach area. My portfolio currently consists of LTRs and I am actively looking to expand it to include more SFH LTRs, and MTRs (potentially student housing).

Real estate is a passion of mine, and I'm working get my real estate license to eventually make the transition into real estate full time as an agent, property manager and full time investor. 

The biggest hurdle to investing is capital, and I'm always researching ways to creatively finance my next property! 

I'm looking forward to meeting new people and fellow investors, and connecting further. Having a community is so important -- there is no better way to learn new things and help each other than a place where new and seasoned folks can chat it out and connect on something that can change your life!