All Forum Posts by: Jamie Salyer

Thanks @Luke Carl!! 'Ok, that is super helpful and exactly how I do my comps for Sales. I was hoping for an easy button. You are right about the regulations and every town is different and changing.  I've been a real estate broker here for 18years so I have my finger on the pulse of that.  

Hi!! I would LOVE your input!!

I have spent the last week digging into AirDna, Mashvisor, All The Rooms, Price Labs etc (oh my!) and I would love your input! Which platform do you use to analyze a STR for you or your clients. Typically, I want to start with a high level look at the comps historical 12 months of Occupancy and Rental Rates. All the other fancy data is great but where can I get a comprehensive report showing the comps  last years Activity. Right now I am doing it manually on Airbnb. Perhaps that is the best way?

I am a broker in Vail / Beaver Creek Colorado and after many years of my clients asking I've decided to open an arm of my business and manage their short term rentals. Rates and occupancy can change drastically month to month. 

The problem that I have with Air Dna & Mashvisor is I can't remove comps that are skewing the data. Just like when analyzing a comp for Purchase, I want to just use comps in that same condo community or neighborhood when possible. 

Thank SO much!! I appreciate this community! A drink on me when your in town skiing the answer to my dilemma ;)

Jamie

@Bruce Woodruff  Thanks Bruce!!!

I guess I should clarify. I live near a ski resort in Colorado so labor and material prices are some of the highest in the country. I would never move forward on a project without a solid bid from a GC...real sound numbers. 

My questions is, Generally speaking, what are some ways that you do relatively quick assessments on re-hab prices? This is in the VERY formative stages before deciding if its worth digging into.

Do you have a spread sheet? 

Thanks!!

@J Scott  I just got the e-book and started reading it. Thank you!!

Hey! 

What are your tips, trick and/or apps when you are doing a quick construction/ re-hab estimate? Obviously we will get a real estimate from a GC if the deal seems to make sense. What I'm asking for here, is at the very beginning stages when you're analyzing several deals and just trying to quickly see if they make the cut to be examined further and deeper. 

Thank you so much for your insight!!

Jamie

@Will Barnard Thank you Will, yes!! :) I really appreciate your input. 

@Ryan Thomson Hmmm, interesting thoughts! I would definitely love to meet your handy friend in Vail, for sure. 

@Evan Polaski Thank you so much for your input!! I love the idea of rolling out the STR while its on the market once the rehab is complete. It makes it a bit trickier to show but could work around that. 

Hello BP'ers-

I would love your thoughts!

I am a real estate broker living in a resort mountain valley in Colorado (Vail). It is an interesting place for flips because prices are super high but often buyers (second home owners) do want want to remodel a home. They are turned off by the high construction costs but primarily, they just want to enjoy their vacations and not do a remodel. Often times an outdated condo will sit on the market... which is in direct contrast to Denver, where outdated homes are often quickly eaten up by investors. 

My overall plan is to flip for the next year or two before I start holding (brrrrr'ing) to increase my cash situation. I'm liking the idea of buying an outdated condo, fully furnishing it (down to the silverware) and selling it to second home owners who very often rent them out.  I don't necessarily consider them Investors, like on BP, because typically they are just wanting to re-coup some money on their dream vacation home during the months that they aren't in town.

Any thoughts from STR peeps? Or general thoughts at all?

I've been in real estate for a very long time but I'm just dove into investing about a year ago. One under my belt.