All Forum Posts by: Justin Melton

Obviously the location of a property doesn’t impact the down payment/financing but there is a property 2 doors down from the property my wife and I just purchased and started renting April 1.  We are killing it this month with 0 reviews to start.  I know we just bought it but I see huge upside/potential.  

I would like to buy the other one for sale but the 50k down payment would not be super practical right now as I just shelled out $50k down payment for the next be I just bought.  The property for sale is overpriced (they bought it for $175k last year and want $183k for it.  I’m sure they have a mortgage so I can’t get it for say $160 for example. Any ideas?

We are new hosts and just went “live” April 1.  We have had a great month.  It started with just weekends but now we are getting weekly bookings from executives in town for work booked by their company.   This guest even requests to extend their booking 5 more days.  Trouble is, we need to get in to install a mini split A/C unit in the loft and the lawnmower (I mow the grass) is in the garage.  

We live local and are self managing.   Any thoughts on this?  The ac install is a one time issue but the lawnmower is long term.   I may have to hire law care or put my push mower in my car and go do it. 

We are in central Indiana. We just purchased a home that my parents are going to stay at a couple months a year. We just put it in Airbnb April 1 and have had 3 bookings and they have all went well but they have all been on the weekend. Also it seems like our area is becoming saturated with STR. We have a mid size university and hospital here. Should I look into MTR instead of STR?

New host, we have had 3 successful bookings.  We are self managing and cleaning ourselves.  The property is 2 minutes from our house so that’s no issues for us to clean.  All stays we’ve had booked are for 2 nights and on weekends.  

We opened for bookings April 1, have had 3 completed stays with 2 future bookings scheduled.  All has been smooth so far.  We are not charging a cleaning fee as we think for 2 night stays adding a cleaning fee really increases the overall cost to stay. However, if we charged $50 cleaning fee and had 10 bookings per month, that would be an extra 500 of revenue.  

What do you think about how to determine rates and cleaning fees ect?