All Forum Posts by: Gururaj Iyer

while the decision is dependent on location and individual preferences , the national level trend is clearly tilted towards "Homes & houses" compared to hotels.. post covid world you are looking at more and more bubble groups renting out houses to share costs... even with a higher nightly rate ..large houses with plenty of living space seem to be winning over more and more families.. a hotel may be good for crash pad scenarios however when you are considering getaways .. more and more will eventually be attracted towards houses instead of isolated hotel rooms. 

My 2 cents - Similar situation last year ..purchased a house with flooring & plumbing issues. Most of the items were taken care off in 4-5 days. It is extremely easy for a skilled contractor to install flooring & also for a good plumbing company to fix the pipes.. yes it does involve additional costs however I think you should try and leverage some $ to be negotiated with the sellers... Lakefront properties in general have a great appeal in the STR world..with the right touch and whistles..it can turn out to be a better deal in the long run.. I know it is a disappointment to find issues int he last minute however the fixes needed which you mentioned if they aren't super major ( radon remediation , lead in pipes , damaged roof etc ) then you should renovate and deploy .. Still time for summer :) .. a gazillion folks book last minute so do not be too worried about losing bookings ... I would however do a thorough check on the location and rental numbers /projections

I totally understand ,I had a similar predicament and after 3 strs, the 4th one - I am going the commercial route.. if you think the purchase has strong cash flow.. you should definitely opt the LLC route... I own two in the state of PA which I am trying to do a deed transfer into my LLC.. and there are costs associated with it.. while those will still be less compared to the interest rate being high.. its the better thing to do and start with imo... from a liability protection point of view and taxation.. much better as well...

was in a similar situation , when you finance through LLC - it always is a commercial loan.. the interest rates are going to be higher as well & would change typically every 5 /7 years like a ARM .. the lenders also take into account Airbnb revenue while appraising your purchase which is a big plus as opposed to residential mortgage lenders who wouldn't consider STR numbers.. if you decide to do it residential ... you can later on do a deed transfer and move the title over to ur LLC ( some lenders do not typically like it )

Mashvisor is another tool... relatively less expensive than airdna ..it works off similar algorithms and will at the very minimum give you a heat map of occupancy rates & even  rental numbers.. you will have to go to the town and click rental comps to see a picture of the existing rental properties and sort by distance or even number to get a fair idea of what others are getting in the vicinity .. add and top it off by searching calendars and occupancy on Vrbo and airbnb sites

@Matthew Malley - am in the same predicament with 2 STRs in the poconos - my 2 cents : purchasing a property above 350k imo will at a some point return very less cashflow . Both my properties are around250k purchas price and both are well on track for beyond 70k revenue . However I don’t think the numbers will last more than another year . The regulations which are popping up are also keeping my anxiety levels high..

Hi, apologies if this was answered before , I am seeking guidance in transferring 3 of my STR properties into my LLC.. any suggestions and guidelines?

@John Underwood: hello , if you don’t mind sharing ? Where do u look for LTR options and deals ? I have 3 STRs at the moment however I am thinking of diversifying to LTRs.. I was checking rootstock but is there any other geography or methodology you would suggest ?