All Forum Posts by: Jacob Morgenstern

I’d recommend starting with rental arbitrage to get your feet wet and generate some positive cash flow.

While I haven’t personally done rental arbitrage, some of my employees have, and they found it to be profitable.

However, as a long-term strategy, you're essentially building your castle on someone else's land. I'd suggest focusing on securing solid DSCR loans—like those from thelender.com, which lends up to 80% LTV, considers STR income, and operates as a direct lender. Real estate is a slow game, but over time, it can help you build significant wealth.

Great post! I would love it if someone developed software that automatically changes the cover photos and tracks impressions and conversions. I know this is available in the Amazon seller space. 

I agree 100% with Raymond. While St. Pete does not allow STRs unincorporated Pinellas does allow it. With regard to the proximity to the beach, I tend to have a beach distance of 15 min or 5 mile rule, whichever is less. 

It pays to have a look at the EMA floodmap and see where you are in regards to potential flooding. 

In other news, it may be tempting to purchase a waterfront property at a deep discount along the Western Coast but beware, you might get flooded in the next hurricane unless you want to do a teardwon and build on stilts. 

Reach out to Steadily. I use them and they are way more affordable than any other insurance I know of. I can be wrong on this, although I have shopped around plenty. 

I always tell guests that toiletries should be considered as a starter pack. That cut down on complaints about not having enough toiletries for people with longer stays. 

However, I suggest you should have enough toiletries for a 5 day stay. 

Most hosts have a closet where they store extra supplies, so yes it's very important o have a locked supply closet.

Hope this helps!

Interesting post Garrett. We onboarded a hoemowner to our property management team in West Palm Beach just over a month ago. They had a beautiful listing and 14 great reviews but their calendar was wide open. 

After consulting with our contact at Airbnb, we were told they were ranking on page 13!!!
It took us a couple of weeks but we slowly increased their rankings unit they were on page 1 (based on search parameters of course) and they got a 10 day booking soon thereafter.

We use Price Labs to check out the date of the last booking. If more than 30 days go by with no booking, you are at risk of falling off the wagon. 

She does have a point. Did you have to refund the guest the cleaning fee? I had a guest cancel as well and my cleaner refunded the fee from their invoice no problem. If you want to be right, I don't think you have to refund the cleaning fee. Cancellations are the cost of doing business. You lost money and so can she on the cancellations. Going forward though, if you agree to give her a refund, I would say don't be so easy on refunding the guest the cleaning fee. We give great explanations when we say no. You can tell the guest although the cabin does not have to be cleaned, you did have your cleaner scheduled and that's why you cannot refund the cleaning fee. 

In related news, we had a guests for a  10 day stay and they wanted to cut the stay short. INstead of just saying "no" we asked them to check with their credit card company if they offer travel insurance yada yada.. we got a 5 star review form them without giving a refund.

I would say reach out to Jared Provost! We just used him. He is a direct lender, not middleman broker fees. 

Jared Provost 906-362-1801raincitycapital.com

HI, I wold defimitley update  the photos. I also see you have a 7 night minimum athe the 2 bed in Sarasota. Is that on purpose?

 Thank you but Host.com does not allow for multiple bank accounts unless I create a new account (think new email address) per listing.