All Forum Posts by: Jeff Costa

@Nathan GesnerMillionaire in a nutshell: "Big hat, no cattle."

@Matthew Cervoni I put together a checklist for interviewing property managers that you can copy and reuse. Its available here: https://docs.google.com/docume...

Thanks @Jeffrey Albaum. Looks like AirDNA can get me the topline estimates, but nothing below the line as you stated. This feels like a gap in the market for a SaaS company to fill...

Is there an equivalent software product to DealCheck for short-term rentals? The tool seems to focus on LTRs, BRRRRR, flips, and wholesalers. I would like to be able to quickly evaluate an STR in the same way DealCheck enables you to "thumbnail" an LTR deal.

Any ideas on a substitute tool?

I have never seen a working example of making an beachfront STR work as an LTR. I'm sure there are some, but whenever I run numbers to convert a beach STR to LTR, the HOA fees and much higher mortgages blow up the OPEX, resulting in negative cash flow.

Does anyone have a good punch list they use during tenant turnover? A set of items you do to ensure the property is rent ready? This list assumes an annual LTR rental lease expiration. I started a list below, but would appreciate anything you could add to it. I will publish the final result as a shareable Google Doc.

1) All exterior locks replaced by PMC
2) Garage door remotes working properly
3) Exterior doors - make sure they open/close properly and don’t stick
4) Furnace - purchase filters and replace existing filter
5) Smoke Detectors - replace batteries and test
6) Towel bars - securely screwed into wall
7) Toilet paper holder - securely screwed in
8) Toilets - flushing and not leaking
9) Sink - ensure they aren’t clogged and faucets aren’t leaking
10) Replace 
11) Have HVAC system serviced
12) Replace dryer lint trap
13) Ensure Co2 alarms have new batteries and are working

 @Zeona McIntyre May I also please obtain the furnishing list? I did not see the book released as yet, so asking here. Thanks in advance!

Previous foundation repairs: if they repaired it once, expect to repair it again when *you* own it

Wonky floor plans: strange angles or room designs that disallow basic things like couch placement or hanging a television

Flood plain: its not the cost of the insurance, but the inability to find contractors or help AFTER the flood

@Shane Dolinski I took a BP checklist for selecting a PM, then added my own questions to it and published as a Google doc that you can grab here. Make a copy of the document and email it to your candidate property managers. They may balk at the number of questions, but nobody has ever declined to fill it out. It will give you all the answers you need to make an informed decision.