All Forum Posts by: Kendra Levy

@John M.

Awesome!

It is Branson Kingsgate Condos which is managed by Thousand Hills. They allow STR, but you have to go through their nightly rental program and I forget the exact percentage... But they take alot for managing it and what not. So I was better off finding a long term tenant.

@Paul Sandhu

Lol

Talk about knowing how to market to your client 😆

How long do you see them needing to get a short term rental? Like will it be a good market in 5 or 10 years?

@Paul Sandhu very interested in this area! I would love to chat with you more about this.

@John M. That would be a genius little cheat sheet! I have a property in Branson that I STR with for awhile, but the association stopped allowing it so now I have a long term tenant in there. Luckily the numbers still work and it is less management intensive. However I would like to find another STR in Branson as well. Much more profitable! And I find it fun hosting different people on their vacation :D

Originally posted by @Caleb Morris:

Hey, I have a few condos down there. I have them on flipkey and Airbnb. Anyone have any recommendations on where else to list them? I’m getting some activity on Airbnb but the guests have been.... subpar. Wondering if I should drop it and switch to a different site. Guests from flipkey have been awesome and would like more like that!

 Hi Caleb! I have had best luck on VRBO. The guest on there tend to stay way longer. Like average 5-7 days which really cuts back on cleaning costs. 👍

@Craig Hunter Hi Craig! I live in Yorba Linda as well and I invest in Branson, MO! I'd love to connect.

I need help analyzing this deal! The numbers seem to work...I need all the advice I can get...

What information am I missing? Would you buy this deal?

16 unit apartment building located right on the main street in town. Current owner purchased in 2003 and made several upgrades to the property with roof and siding replaced in 2006. 8 one bedrooms and 8 two bedrooms. Natural gas installed for heating and hot water. Laundry room needs updated. All repair parts and equipment to be included. Great location for those that need to walk to work. Near several restaurants, banking and churches. Lots of potential. Each unit needs some updating, but I don't have specific dollar amount since I haven't had property inspected yet.

Asking price:$450,000

Monthly income/expenses=

Rent 1 bedroom:$350

Rent 2 bedroom: $450

Insurance: $250

Natural gas: $350

Water & sewer: $315

Handyman: $550

Repairs: $200

Trash: $180

Real estate tax: $375

I have the opportunity to buy a property. I would appreciate all feedback. Here are the details: 10,000 Sq ft  13 rooms rented $500-750. Per room, depends on size 2 Huge living room areas 5 bathrooms,  1 full and 4 half 2 full size eat in kitchens  1/3 acre mostly fenced Basketball sized,  concrete back yard 3 storage sheds Swamp coolers, 2  1 new boiler, 1 refurbished Heat system  Fresh paint inside and most rooms newer carpets  This property is currently a boarding home for elderly or disabled people on fixed incomes. Current realtor appraisal of $480- $500,000. Asking $365,000. They are on a deadline to avoid foreclosure. My question to them is why they can't afford to pay the mortgage if they are truly getting at least $500+ a month from 13 people/rooms. The numbers seem to work.

@Ryan Groene

Hello! 

I was contacted by a wholesaler with a MHP for sale in the Midwest.

It has 6 homes, fully occupied, all take up less than one acre.

The mobile homes and the lots are owned by the park.

Gross monthly income is $2,070/month

Owner pays:

-Trash is $64/ month

-Water is $200/month

-Tax is $25/month

Tenants pay their own utilities, electricity and gas

Selling because it has a lot of equity in it

$84,000 with option of seller financing

Rent ranges from $275 through $575/month

Owner charges a lady who has lived on the park for 7 years the lowest rent of $275/month

City sewage and city water

Any and all advice on this deal would be greatly appreciated. I feel it would be a good way to get my feet wet since it is a very small park. However, since the homes aren't owned by the tenants, I am hesitant.