All Forum Posts by: Joe Vairo

Hi Faith! 

Thats honestly a great idea especially for Short Term Rentals. The staging of the property either makes or breaks it. Those first couple pictures frames what people think of the property and whether they will stay there or not. This could be a very valuable proposition to Landlords, Creativity and style is sometimes something that Landlords do not want to deal with. If you position yourself like that of various management companies this could be a very good niche!

I was in the same boat. I wanted to do a triplex or quadplex, but the cash flow of that vs a STR wasn't even close. I ended up going with a STR for the first one because the cash flow was that much better.

It made it a better deal for us because we can still use it occasionally when we travel to the area but still make plenty of money to cash flow more than that of buying a triplex or a quadplex.

In the end it really comes down to what are your goals for the first property. Do you want to have a long term tenant and more peace of mind while have a little bit less cash flow. Or are you willing to be a little bit more risky and go times without a tenant but have the ability to make more cash flow per month. With the STR’s you will have big months bringing in more money then you will have slower months in the off-season as well.

The 20% down isn’t the only type of loan you can use, there are possibilities To put less Down, if you use it as a second home/vacation home.

I haven’t done any in a College town personally. But rent by room is deemed pretty standard around FSU in Tallahassee as an example

At FSU they’re between $700-1,200 a room

Be prepared for damages, especially if its near bars and such

They’re usually 1 year leases

Close to all the things the students want to do like Brett G. said