All Forum Posts by: Gerald Pitts

I like to gather data from a variety of sources. I suggest the rentalizer, STR Insights, Rabbu, Mashvisor. I need to look at the Pricelabs data. Have heard really good things. I think it's their Market Dashboard. Research realtors that know the markets if you know the ones you're interetsted in. Most importantly, analyze a property or 2 every day for a month or so. Set a date to pull the trigger if you are an "analysis paralysis" guy. Then don't over think it / pull the trigger.

I would look up Mike Denman who specializes in FB, and Google ads for STRs.  Or direct the manager to Mike.  

 I agree with Bruce about just getting started.  I think you have areas where profit margin is not what it was.  You just have to research what markets are emerging.  Work on advertizing / marketing. Listing and pricing optimization.   And work on what sets you apart from others.

These folks all specialize in STRs. 

Mortgage Shop w/ Brenna Carles.

Chris McPherson with Movement Mortg. 

Chris Ledwidge - The Lender

Go for it. I also suggest getting good at price and listing optimization, learning what the competition is not doing, standing out. As an owner if I turn this over to someone for a percentage, I want to know they are going to make at least the revenue I'm making and ideally more. I know the podcast Short term rental secrets goes into co-hosting. There's probably entire podcasts devoted to it as well. Good luck. 

Isn't this co-hosting? 

STR insights is really good. I think its a couple hundred a month. Well worth it for anytime you are actively searching.

I believe you need one to run FB ads.  If that's the case, I would have a page, and try running the ads, which are super cheap.

All of your work after setup is remote in the STR business. I've always invested remotely in the smokies. I started small for peace of mind. Just to see if I liked the business. You can always 1031 into a larger property later. If you need the increased cash flow now, just run your numbers conservatively, and do plenty of data research.

 Could also be marketed to larger families as a third listing.