All Forum Posts by: Greg Farmer

Hey Patrick, thanks for the heads up! I figured it was probably commission based but really had no idea of what the day to day in this kind of role would be. Thanks for sharing.

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Anyone? Anyone? Would love some input if y'all have any :) 

Hey BP! So I am one of the millions of people whose job was affected by the COVID-19 situation, and I'm currently on the job hunt. Since real estate is a passion of mine, and I'm looking to grow there, I have been applying to real estate related roles especially. My background is in B2B wholesale (selling fashion products from manufacturers to retailers).

I have an interview next week for a company that buys houses cash (think like the "We Buy Ugly Houses" signs). I'm somewhat familiar with this type of business, but I've never worked in it. The role would be as an acquisition specialist convincing people to sell their homes now for cash rather than going the traditional route. 

Do any of y'all have tips/advice for me going into this interview? Is this the type of role that one can make a decent living at? Is it a role you would or would not recommend someone in my position take and why or why not? 

Thanks in advance for any info! 

@Account Closed Thank you, very helpful info! I'm going to ask all these questions as I interview companies. I had no idea about the CHPA and CCHP credentials. 

Florida is generally very friendly towards STR overall, but it really depends on the local regulations and even the HOA. "Condotels" are popular in some parts of Florida, where every condo in the complex is available to rent on a short term basis and sometimes (as an owner) your HOA fee will help cover the cost of the HOA to manage the listing for you. I'm not an expert on Florida at all, but I know STR is super common there and can be very lucrative if done correctly. I'm not familiar with the other states regulations.

Hey BP! I am currently self-managing 2 of my rentals as Corporate Housing (1+ month rentals). Located in Dallas TX, they are fully furnished with linens and all. I use Airbnb (one month min. booking), Furnished Finder, and Zillow to list them. It's been going well, but I am interested in working with a property manager or management company that specializes in Corp Housing. I am adding a third property soon (currently it's rented as a non-furnished LTR), and I also work full time. I just don't think I'll be able to keep up with it all. What questions should I ask potential managers and what are the things I should keep in mind? I definitely want a local company, and I have a call set up later this week with one that is based in Dallas... Anyone else work with a property manager in this space or in Dallas? Would love to hear your thoughts!

I'm originally from Grand Rapids! Heritage Hill or East Side would have been great areas for this when I lived there 8 years ago. Not sure if that is still the case! 

@Cody L.

Makes sense, thanks for sharing!

@Nik Moushon

Hey Nik, I don't solely do this, but we alternate between these "mid term" type tenants and true STR guests at a condo we have in Dallas. It's near downtown and a huge hospital campus. So far we've gotten all bookings from Airbnb, but I'm showing the unit to a nurse tomorrow who found it on Furnished Finder. Longest booking we had on Airbnb was 75 days and we also had a Med student who just moved out who was there for a month while she looked for a traditional 12 month lease near the hospital.

This model seems like it'd work for you being by a hospital. You can set the pricing on Airbnb and other similar sites to offer discounts for bookings 28 days or more. Then, if you ever have a vacancy window of like two weeks, you can experiment with changing the pricing to fill that Gap with true STR guests. This is how I've been doing it for about 6 months on the condo, and it seems to work well. Cash flow is higher during periods of true STR stays but workload is way less during the 2+ month stays :)