All Forum Posts by: Jason Regan

Just like they talk about on the bigger pockets podcasts and flips you need to practice. The first thing is to get great STR agents like @Luke Carl has on their team so they can give you general idea of costs in the area and what you should be looking for. From there I use a combination of Airdna, Price labs, and Enemy method to figure out the analysis. Get comfortable with the tools you want to use and bounce things off your realtor to ensure you are on the right track. If they have done a bunch they have a general sense of what things should get. This is changing due to interest rates and don't count on it to be perfect. The investment is yours and you should be the one running the numbers. A realtor may work with you once you have one nailed down, but dont ask them to analyze the whole market and give you what each one will make. Its your job to do that. Also, I leverage the realtor to find out what sells and what to look for then I know where to focus. For example in Disney area people wants pools, an HOA with a resort feel, close to Disney, and theme park theming in the rooms. Be a sponge!

Im looking in many markets now and its always interesting to see the difference.  Im Kissimmee I have 2 beds in every kids room, but only one in adults.  When looking in Orange beach or Myrtle I see many 2 beds have double queens per room to sleep more.  What I would caution is stuffing people in.  You may be able to stuff a bunch of queens and a roll out couch in your 800 sq foot 2 bedroom, but does the house really fit 8 comfortably when they are up moving around?  

I am having the same type of issue but its because my DTI is super high. I bought a STR in February and of course they can count any of the profit until it goes on the taxes so my DTI is like 80 or something. I am buying two more this year DSCR. There are drawbacks and these tend to have higher rates and crazy closing costs. For example my Gatlinburg buy has 30k in closing costs. Next year I get my DTI back and second home loan option yay!!!

Id love to see replies to this.  I haven't been up and running long so its not consistent enough to say.  Right now I'm running about 30% for my 6 bed in Kissimmee with a rate of 4.3%.  This is in the ramp up period, so I am finding things to fix and replace.  So far I have had to replace a broken bed, bathroom paper roll, fix a tub sink twice, and I added a heating control system to the pool.  I also have my rates lower then usual to ramp to super host faster.  There seem to be many strategies but mine is to get that badge as fast as possible while making profit then normalize my rates

oh yeah that's a loaded question.  Read the book and it gives a good base.  Also, watch a lot of Robuilt and Real Estate Robinsons.  It is a lot to get your first won up and a lot of learnings.  For example I didn't realize the cleaning company took all the sheets and towels in mine in Kissimmee.  Good thing I went down there before guests came.... phew.  You also have to decide if you have the time and want to run one.  If not many partners out there will go in with you, find the deal and run it if you bring loan and equity.  Just be carefeul and ensure they have a track record and know what they are doing.  This is why I don't do that yet.  I will own 3 by the end of the year, but only own one now.  I don't think that's enough to prove to anyone I can handle multiple consistently, but next year will be a different story!  By the way we just got super host on VRBO whooo!  The third option is hire a property manager.  Many use this but I don't like it especially now.  Most are 20-30% of top line revenue and if you are buying know the margins are already slimmer then what we are used to in this industry,  Ill be glad to talk to anyone.  Kinda a dork about this.  Feel free to reach out

Im looking to scale my business next year and bring on help.  I have brought all of my deals through this year by way of wholesaler and other relationships I have built.  This is still a core part of my strategy but need more so I can scale.  I am budgeting $2,000 a month and looking into PPC or postcards.  What do you all see?  Also, what PPC company would you recommend that really knows our industry?

I would definitely listen to @Luke Carl and pickup the book.  It provides a great basis point.  I also found a lot of information on YouTube through the real estate Robinsons and Robuilt.  In the end the best method is really to get into the world.  Reach out and talk to other people that are doing it,  be active in the forums associated with it, find meetups, offer to buy people lunch and pick their brain.

I Tend to list my properties on Wednesday.  This will make it so it will hit everyone's inbox Thursday.  I set up an open house in order to try to get them excited to get in early and make a big offer to get the open house cancelled.  This has worked in the past, right now I am seeing people actually wait to the open house.  I don't know if this is because its easier for the agent to send their people to the open house to show it.  

Wow I never knew about Furnish finder, ill have to check it out.  Right now I am split between Airbnb and VRBO guests.  I am finding about equal quality of guests between both right now in Kissimmee and stay length averages about 4 days on both.  

I have an Airbnb in Kissimme that's about 15 minutes from Disney that is doing well for me. I bought here as I know there may be dips in visitation( Like now), but the demand will always be there. Also there is a convention center nearby. Randomly what I am seeing now is that I am getting a lot of weekend guests just looking to use the amenities around the HOA.