All Forum Posts by: Joseph Duckett

All,

What software are you using for short-term rentals and why?  We are looking at Guestly, Hostaway, Zeevou - and are open to other suggestions.  We only have 1 now but hope to have 5 in the next few months.

Been wanting to jump into real estate for the last year or so but we run two businesses that have kept us pretty busy. Both businesses are profitable and doing well. So my wife decided that short term rentals would be our focus starting out. We live in Atlanta and are less than 6 hours from the beach and the mountains, along with other popular short term rental spots. With that in mind are ran across an owner who has 6 short term rentals and is ready to retire. The asking price for all, they can be broken apart is 2.6 million. The cash flow is strong with each averaging just shy of 30k a year. The owner has not marketed them much and based on research and the Biggerpockets Airbnb tool, we thinking there is potential to nearly double the revenue as she has rentals priced the same all year and is neay half the normal market price and maybe triple below during the busy seasons. We have some money to put down but not a full 20 or 25%.

Here is the question:
How would you try to go about financing this? Traditional loans? Hard money? Should we look at a portfolio loan? Other ideas?