All Forum Posts by: Jonathan Buehler

@Joseph Bafia Thanks Joseph, that is some great insight. Have you ever used Air DNA and do you find the data reliable? Seems like it is too good to be true when I look at the property income potential vs a long term rental. Thanks again.

@Darius Ogloza Thanks Darius, I appreciate the feedback. I'm going to check my area and see if anyone specializes in STR properties. Thanks again

@Luke Marsh Thanks Luke, I appreciate the feedback. Do you have any software that you recommend? I think that sounds like a smart investment.

Does anyone have experience managing a short term rental long distance? My family and I are considering using our primary Florida residence as a STR while we live in another state for a season. I researched our area using Air DNA and it seems like the asset would do well assuming we can keep it booked at a decent rate. We have some friends that personally manage their own STR's but they are all local. Concerned about unpredictability of occupancy and not being close in the event of a problem arising. Also, determining a rate seems tricky as well since the demand seems to be higher in the summer vs the remainder of the year. Any recommendations for STR property managers or any other useful feedback would be greatly appreciated!

@Dezman Beasley I’m asking this question too. I have a town home in a coastal community that has appreciated very well. It’s currently vacant and I’m trying to rent it for more than I originally intended due to tax increases. I could still cash flow if I lowered the rent but wonder if the equity would be better used buying other deals in the future. I have a heloc on the property but have wondered if it will eventually be frozen if the market declines significantly.

@Eric Bowlin 

Thank you for your comment. Question - in your calculations, you included utilities in the figures. Whenever I have rented in the past, I was responsible for paying these expenses as a tenant. That does change the numbers a bit. However, your point is well taken. What is worth the head aches of renting from an annual income perspective? I have heard that if you can charge 1.5 -2% of the total purchase price of the property in monthly rent then it's a good rental. This just doesn't seem realistic in my area. 

Any thoughts?

@John D.

I see. I was definitely not thinking in those terms. In that case, it probably would not be a good rental investment. Is the point of that analysis to determine if a property would be a "steal" to purchase and rent out? Is the exercise aimed at getting a person to think about only purchasing property they could get at a bargain price and rent for a nice 1% or higher rule? What if the property could have large future gains in value because it's in a great area? Or do you only look at cash flow?

@Elizabeth Colegrove

I was referring to a refinancing the property while I still live here. Before it's a rental. Perhaps lowering my monthly payment and making it more attractive to rent.

@JT Spangler

Thank you for your comment. Yes, I think you are right. I need to look into a refinance for my property. This could definitely make my decision a lot easier. I will definitely ask about a no closing refinance. I didn't realize you could refinance without all the closing cost.

Thanks again.

@Michael Seeker

Thank you for clarifying. I understand now. Based of this analysis, if my home was worth $185,000 at a 10% discount it would sell for $166,500. I believe that would be a good good buy in this market. This definitely helps to understand my position better. Thanks