All Forum Posts by: Ethan Evans

Cool, good luck, @Steven Correale.  Let us know how it goes in a month or so!

Don't forget to check your local laws and ordinances that describe when a "guest" earns "tenant" rights, typically after they've stayed there over a month.  Just a thought.

@Steven Correale, who's your current insurance? Is it a bigname company like StateFarm, or a local insurance broker? I just switched to a local broker when I bought my househack(AirBnB-STR) last year. They are also able to get me a policy with an insurance company (American Modern) for my upcoming STR-Rental that I'm purchasing soon, but I'm also looking at Proper Insurance, as they provide a more holistic (and expensive) insurance policy that covers things like intentional damage by guests and lost revenue. Overall, I'd recommend that you call a few local insurance brokers, and see if they're able to find you a policy that fits your needs.

Also - what site/method are you going to use for finding travel nurses?   I've looked at www.FurnishedFinder.com as they also allow you to advertise to travel nurses, traveling professionals, etc.  Good luck to you!

Fantastic job at presenting a "normal" house in a very attractive way, with paint, lighting, decorations, and REALLY good photos.  This is a good listing for me to try to "keep pace with"!

Hey guys - I appreciate all of your feedback and suggestions!  I hear you, and agree with your input to include:  great photos and photo order, honest and positive copy/description, and "make sure the whole place looks good".  If anyone has anything else to add, I'm grateful for all input!

Hello, my fellow Short Term Rental investors!

What are your thoughts on using homes that might be a solid B-class or C-class SFH rental, and using them as an AirBnB? I'm looking at MLS properties that were just flipped or are already in great condition inside, but many of these properties look bland or worn-out and ugly on the outside. I know that I could create a great listing with excellent photos of the interior, but I'm afraid of a negative first impression on the guest when they pull up to the house and feel "less than impressed" or worried that the INside of the house might look like the OUTside.

It's January, 2022 as I write this, and we've had snow on the ground in Michigan for a few months - so I can't do landscaping right now, but spring IS right around the corner.  Would you think that re-siding a house and adding trim would be worth the investment if my competitor AirBnB listings are sometimes also NOT very attractive on the outside?

Next - let's talk about neighborhood and street activity.  How do you view a good house, that's surrounded by rental homes that aren't well maintained or are an eye-sore?  How do you factor those "atmospherics" into your analysis?

I live in, and starting to invest in the Lansing, MI area. I AM being intentionally think like an investor when analyzing deals by focusing on what makes sense on paper, and not just viewing a property for what I'd want to live in as a homeowner....but I also know that I'm trying to deliver a different kind of product and experience for my first STR, that I would if I were shopping for a LTR. Thanks in advance for sharing your thoughts, experience, and practical advice.

Thanks, @David E Weinrich, I sent you a DM!

Hello @David E Weinrich and @Matt J.! I appreciate the feedback and responses from both of you gentlemen. The real drive for us to buy a STR in central/western MN area like Fergus Falls is that my wife and I want to get a property that will cashflow well first, and will also be close to our family, closer to the MN/ND border - so Fergus Falls is the biggest area closest to that.

I definitely noticed as I reviewed the other listings on AirBnB that most of them are lake cabins, east of Fergus Falls in the lakes area, but I wasn't sure whether I should interpret that as that's where most of the consumer interest is, or if the immediate Fergus area was just less developed.

I live in the Lansing, MI area, so we've got some decent LTR properties available here, and I think I'm going to be focusing on STRs first, both in Lansing, MI and in the Fergus Falls/Lakes Area of MN, and then look to add LTRs after that.

I'll DM both of you for more info - I appreciate it!

-Ethan

Hello BP!

I'm originally from the general Fergus Falls, MN area (+30min), and now live in Michigan. My wife and I are looking to buy a single family home as a rental, specifically to use as an AirBnB/STR. I'd love to connect with any real estate investors and professionals in the area to learn more about how this market has been performing, and things to know about.

Connections I need:

1. investor friendly  lender (once I close with cash and am ready to put a mortgage on it)
2. on-call "handyman"
3. cleaner
4. real estate photographer

Other information I'd like to know:

1. Local REA meetups?
2. strength or trends in local long-term rental market
3. any known or suspected developments coming to the area (businesses, attractions, festivals, etc)
4. any flips that will be getting finished in the next 1-6 months?
5. what else should I know, or who else is a good person to know about real estate investing in central MN?

I look forward to hearing any and all feedback that you folks may have to offer!

-Ethan Evans

@Michael Vilardo, this is a great question! I'm in a similar situation, where I'm going to be moving to a new home, and using a mainfloor 1Bed/1Bath suite as my AirBnB. I'm already planning to do a little Reno to add a half-bath on the mainfloor for my family, since I'm "giving" the bathroom to the STR - but I hadn't thought about the thermostat yet.

My home has forced air already, so what I'll probably do is see if an HVAC guy can isolate that room on its' own zone so it can have its' own thermostat inside the STR unit. That will probably mean a little bit of changing of duct-work, based on what little I've picked up from my HVAC-Pro father in law, but hopefully not too bad.

For your househack, are you already planning on tearing into drywall to have access to the HVAC ducts, or what do you have already for heating/cooling? Ask your HVAC contractor if you can create a new zone with a Thermostat. Even if the zone has to include part of your home in addition to the STR, at least then the Guest has controls and the little bit of bleed-over shouldn't matter hopefully? Hopefully, since you have a split level, it'll be easier to isolate that section.

Good luck and let me know what you end up doing!  Cheers!