All Forum Posts by: Josef Bryan Gerster

Quote from @Melissa Nash:

I used them when I first got started in my first STR about 5 years ago. They were great to get me started without charging a TON. Because of them, I had the courage to move to self management later- which I now do and LOVE. I am totally automated and don't spend more than a few hours a week on all my properties- but in the beginning I do think they were worth it. Lowered my learning curve! Hit me up if you want to chat more about them & my experiences with them in 2 states now.

 Thanks for getting back to me. My business partner has some experience with building websites and SEO so we are starting to lean towards managing it ourselves. It seems like everything can easily be automated. Our plan is to build a complex next which means it would be best to learn how to manage ourselves.

I am about to go live on my first STR in the North GA Mountains and am planning on using Evolve. Any feedback or recommendations on other PM companies to use?

Quote from @Bruce Woodruff:

Quote from @Zach Edelman:

Depends which partners are providing what. A common and simple investor split I have heard of in the past is the classic "Partner A provides most if not all the capital, Partner B provides the sweat equity and management" and the partner's go 50/50. 

This is how I have done it myself in the past. But of course you can do it any way that feels comfortable and fair to all the parties involved.

If it's a situation where everyone is just putting in money and you are hiring out the work, then it would make sense to have the payout percentages the same as the way the money went into the project...but weight the percentages to reward whoever is doing the management, because someone has to...

 I was going to hire the same team that built my first cabin to build this complex. The investors would do nothing besides bringing capital to the table. I would oversee the entire project and once completed, I will hire a professional management company to run it. 

Quote from @Sarah Kensinger:

What @Zach Edelman is what we are doing with a partner. We provide the management and some capital while the other partner provides capital, then all proceeds go 50/50.

The plan is to raise money to build this complex while I oversee the entire build using the same team from a previous build. Once it is completed, I will use a professional management company to run the complex. I will also be close by if I need to be there at a moments notice. Thanks for the reply.

Quote from @Zach Edelman:

Depends which partners are providing what. A common and simple investor split I have heard of in the past is the classic "Partner A provides most if not all the capital, Partner B provides the sweat equity and management" and the partner's go 50/50. 

 The plan is to raise money to build this complex while I oversee the entire build using the same team from a previous build. Once it is completed, I will use a professional management company to run the complex. I will also be close by if I need to be there at a moments notice. Thanks for the reply.

Hello,

I want to build a STR cabin complex and need to figure out the investor split. Does anybody know what the industry standard is? I have several interested parties who would like to invest but don't know if the split would be 80(investor)/20 or 70/30? Any insights would be greatly appreciated.

Thanks

Quote from @Peter Brown:

Cool. Are you planning to put well septic and electricity in? Will you need some kind of road to access the property?  How much you figure on it all costing?  ...even apart from modifying the containers?  

im curious about all this because my plan is to acquire an STR with land so that i can add an "unusual" rental as a value add.

 All in costs will be around $200,000. Financing has been secured which is a big relief. As far as septic etc, it just depends on the lots. Some already have gravel road etc. We are inspecting on Thursday and pulling the trigger on one that fits our need best.

Quote from @Peter Brown:

@Josef Bryan Gerster will it be off the grid?

 It will be about 5 miles away from the nearest town in the woods

@Daniel Paul Goodman did you end up pulling the trigger on this project? I have been thinking of something very similar so would love to hear some success stories.

My business partner and myself are about to purchase some land and place a 3 bedroom, 2 bathroom shipping container home on it in the North GA mountains. Its a 40ft container on the main floor and a 20ft container on top with the rest of the 20ft turned into a deck. Does anybody else have shipping container airbnbs and how are the occupancy rates?