All Forum Posts by: Joseph Longo

Hey @Joseph Longo welcome to the BP forums! If you're interested in getting into short-term rentals (STR) in Kentucky, I'm your go-to person. We have some of the best markets in the country, and I'd be happy to share insights into the top spots here. I'm also one of the Airbnb Community Leaders for the state, so you're talking to the right person when it comes to this asset class. Feel free to reach out anytime!

My main advice is to focus on a specific area and research the local regulations. STR laws are evolving across the country, and you’ll need to narrow down your focus beyond just the state level. I understand you're in the research phase, but this is key—some areas are no longer STR-friendly.

@Min Zhang @Jimmy Lieu

Stop spamming the forums. Provide a helpful response or don't post anything. 

@Joseph Longo you're going to have to really narrow your focus. Find some sort of unfair advantage or subject matter expertise and lean into that. The land grab/easy money is over and short term rental investing is a lot of work for not a lot of cash flow as I see it. You kind of have to make a deal rather than buy a deal. My 3 short term rental investments are below...they got progressively more involved and difficult. We are in a "What can you do that is really hard?" market right now.

Deal 1: 5 Bedroom cosmetic fixer - pretty straightforward and walked into a lot of cash flow. It was 2021...those were strange times and this corner of Maine was still a little undiscovered by national investors. I lived in Houston at the time. 

Deal 2: bought a pretty serious fixer that evolved into a live in flip/BRRRR. It is a 4/2 on 5 acres and we can parcel off additional lots to sell or build. We're in the middle of that right now...it'll be profitable but it sucks. My family of 4 is sharing 1 bathroom, and our home is a bit of a job site.

Deal 3: 3 bed/1.5 bath waterfront property. It'll eek out a very meager return, but the plan is to add a dormer in the upstairs half bath to build out a shower and make it a full bathroom. A proper 3/2 comps out about $50k higher than a 3/1.5. It's an equity and appreciation play. There's not much cash flow to be had. I think that we are very skilled and experienced operators that bought it at a good number...still doesn't pencil for the amount of cash flow to justify the expense and work.

Hope that was helpful and sorry for the length. Feel free to reach out if you think that I can be a resource. I have absolutely nothing to sell.