All Forum Posts by: John Mausteller

All good points above - If your realtor has a great track record of managing properties as well, I do not see any harm in using him for both buying and managing.  If he is very busy selling homes, then he may not have the time for needs come up for your properties.  Are the properties long term or short term rentals?  A PM will be more hands on with short term and needed more often, where long term, they are not needed on the daily, but you want them available when a need arises so they can respond in a timely manner for your tenants. 

Message me and I will send you some!

 Brandon, I second what Susan says... beach boxes can be the way to go! Especially if you set them up right and they are walkable to the beach like Susans!

Welcome Susan!  I am a broker in Outer Banks and own a few Airbnbs here and a few in the mountains of Western NC.  I grew up in Williamsburg, so not far from Richmond! Would love to connect!

That is so awesome!  I wish I started on the investment journey back then.  Keep it up, don't sell the house if you do not have to. When you are finished with college and move away, continue to rent to other students for years to come... Keep buying up real estate. 

Hey Mark - 

I think there are numerous markets to look into around the country, I would start by looking into ones that are an day drive or less from you and expand out from there.  Since you have a day job - you may not want the hassle of managing and therefore the drive aspect can go out the window also and you can expand your search.  I also do not think there is a huge learning curve to managing STRs.  There is a learning curve but I would not let people deter you from trying it out.  Find properties, use sites like Airdna to run numbers, be conservative, and if it pays for itself, and you cash flow some - then add on the tax benefits of Cost Seg study... its a win in my book.  In 15 - 30 years, you have a paid off home and that is where the win really is.   

Hey Clay -

I agree with many of the above comments - the number one being well stocked.  Stock the kitchen with all the necessities... enough cookware, crock pot, food processor, blender, all needed utensils, etc etc... anything you think you may need, provide it and it will go a long way with guests, especially in reviews.  Get quality furniture and good linens too... people love that and will ask where you got them etc etc...  I also think things like a hot tub, a putting green as you mentioned, a fire pit outdoors (propane if needed) go a long way... if you have those outdoor spaces, string lights help make them have an even better vibe.  Where is your rental located?  Good luck and I hope you crush it!  Sounds like you will since you want to provide an awesome experience for your guests!

Good Luck Jennifer!  I own a couple STRs in the Outer Banks of North Carolina!  

Looks awesome!  That is nice that it is on a river - I am sure people love that aspect of it - and being close to a nice little town!  Congrats!

Hey Bob -

There are quite a few options for beach towns up and down the east coast as I am sure you are aware.  With your budget, I would focus on narrowing down which ones would get you the best home for that price point - and also the best return.  Most beach towns are going to rent in the summer months regardless of where they are, but some have much better price points than others.  For instance, Charleston area is significantly higher priced then some other areas.   I am a realtor and investor in the Outer Banks of NC - and you can certainly find your price point here and get great returns - but I know there are other towns that would have similar priced homes and great returns as well.   AirDNA is a great tool to look at different areas and estimated rents - and I would also log onto VRBO and Airbnb and see what homes are renting for in the areas you narrow down, and how many there are available.  Good luck and let me know if I can help answer any other questions!