All Forum Posts by: Justin Lee

 @Dmitriy Fomichenko Thank you Sir

 @Jerry W. thank you Sir

 @Grayson Spittel I use evolve vacation rentals as a "manager" of some sorts. I use the term manager loosely, they pay for photography and advertising on Airbnb, vrbo and a few others. They take 10%. They do keep the calendar and you have an owner portal where you can make owner reservations. I just got my year end tax documents and I can say that I am pleased with the way that information is put together for me, very easy for me to analyze.  

 @Joseph Bafia yes lets definitely do that. Question- Do you have each property set up in its own LLC ?

@Jake Greener Our first Airbnb is a house in the middle of the Virginia mountains. This is our second STR, but the first condo that I have done.

Both properties have outdoor activities that draw visitors to the area.

The condo has the beach and the mountain house has Horse/hiking/kayack/fishing.

I push hard on advertising my STR's on Facebook pages that are relevant to the areas/activities.

Investment Info:

Condo other investment.

Our fist Airbnb went so well that we decided to do it again, this time at the beach. I am currently still working on this reno and will post pics when I get done. I have 0 worries about this property ability's to rent and cash flow. One row off the beach.

What made you interested in investing in this type of deal?

being successful in our first venture made this choice a no brainer.

How did you finance this deal?

Conventional

How did you add value to the deal?

30k renovation, added a shower to make 2 full bathrooms.

What was the outcome?

I hope to report that this was successful and that we will buy a second condo in the future.

Lessons learned? Challenges?

This project taught me that sometimes its better to write the check than it is to take time away from my business in effort to save money. I could have sold more real estate instead of having to be at the beach working on the condo.

Investment Info:

Single-family residence other investment.

Successfully Converted a 1909 countryside home into an equestrian friendly Airbnb.
(This is not an Advertisment)

https://www.airbnb.com/rooms/49893729?adults=1&children=0&infants=0&check_in=2022-06-10&check_out=2022-06-12&federated_search_id=95b44daa-b86b-4ad7-b9f0-b6a12f3d127a&source_impression_id=p3_1645633186_4gpPcWqQzGEn7CDu

What made you interested in investing in this type of deal?

because it could pay for itself, and allow us to enjoy it as well

How did you finance this deal?

conventional

How did you add value to the deal?

small renovations

Lessons learned? Challenges?

Don't be afraid to put sweat equity in and try to learn new skills

Investment Info:

Single-family residence other investment.

Successfully Converted a 1909 countryside home into an equestrian friendly Airbnb.
(This is not an Advertisment)

An unforgettable experience awaits at this beautiful house in Fries! Built in 1909 and boasting an updated rustic interior, this 1-bedroom, 1-bath with loft vacation rental is sure to provide a relaxing atmosphere for you and your loved ones. Located in the countryside, this home is your perfect hub to escape the busyness of city life.

https://www.airbnb.com/rooms/49893729?adults=1&children=0&infants=0&check_in=2022-06-10&check_out=2022-06-12&federated_search_id=95b44daa-b86b-4ad7-b9f0-b6a12f3d127a&source_impression_id=p3_1645633186_4gpPcWqQzGEn7CDu

What made you interested in investing in this type of deal?

because it could pay for itself, and allow us to enjoy it as well

How did you finance this deal?

conventional

How did you add value to the deal?

small renovations

Lessons learned? Challenges?

Don't be afraid to put sweat equity in and try to learn new skills

The positive part is that you know when they get paid, Might could even work it out to take out rent from their pay before they get their check.