All Forum Posts by: KiKi Wood

This is something we have thought about adding onto our properties, specifically the grocery delivery! It's a great way to add that extra touch. We haven't worked through the logistics of the grocery delivery, but we have talked about asking for their grocery list at least 48 hours in advance, doing a mobile order at the grocery to pick up, and adding a 10% up charge for us, since we're delivering it. We would have it delivered same day before check in, and whomever is dropping it off would put it all away! It seems like it could work if you have a team of people who are available to do it. 

This is a great idea Bruce! We manage properties in Indianapolis, IN where people do the same thing. I'm assuming you would rent it out for the times you aren't there? If so, heres a few things I would be certain to think about. 

- Management: it may be hard to manage the home if you are not living in the area, to deal with emergency maintenance or make sure the home is getting taken care of. Hiring a manager or building a good team you trust to take of it is so important! A good handyman, contractor, cleaning team, and cleaning inspector, make a great Airbnb. 

- Amenities: not only for guests that stay, but for yourself! If your plan is to make money on this investment, the more amenities you offer, the more people will want to stay at your property. You can also charge more nightly for big amenities like a hot tub, game room, or things for kids. 

- Design: design goes hand-in-hand with amenities for maximizing revenue. Designing the home thoughtfully with the area in mind helps, and color is super popular! 

- If you're in an area direct bookings are popular (Gatlinburg, TN for example) use a property management software that also builds a direct booking site for you. You can also build this over time from past guests, and saves both you and the guests money. 

It's really awesome that you're investing in this way! Good luck! :) 

Lol! Great response. 

 I appreciate it, James! Thank you so much. 

 I also can help you run numbers of any kind! As an investor myself, I know what to look for in a potential deal, and able to help you with that! 

Hi Matt! These are great questions to ask. I specialize in investor real estate in Indianapolis, IN. My fiancé and I also own a property management company, where we manage 60+ properties! We like to pride ourselves in being a one stop shop, especially for out of state investors! :) I think the most important aspect of OOS investing is building a reliable and trusted team in the area. I would recommend finding an agent on Bigger Pockets (since you know that they will be more investor based) or look up investor agents online, and interview them from there! I would also recommend finding an investment lender in that area. I have an amazing investor lender that does DSCR, hard money, no money down fix and flip, and traditional loans as well. Let me know if you want her info!

When I have an OOS investor, I offer virtual showings, so they are able to access the properties quickly to move quickly, if need be! Depending on your investment model, Indianapolis is a great place to start. Lower barrier to entry, lower property taxes, and has a lot of potential for investment models! 

I would love to help you out if you're looking to invest in the Indianapolis or surrounding areas. Feel free to message me! :) 

I agree with what is said above! I have found it to be great for estimates for clients, but to really get accurate data you have to dive into the competition's numbers. I really do like AirDNA though, I just don't trust it blindly! :)

This seems like a great tool, especially for us STR business owners. When I checked out Google Vacation Rentals when it first came out, the data was not super accurate, so I'm hoping they keep building out that aspect! This could be great for our direct booking sites. Hopefully this wakes up Airbnb and VRBO!

If they knew what the tenant was doing, then it is a shared blame. It is unfortunate, though. When we look for arbitrage units for our clients to sublease, we are upfront and honest, as well as explain the risks to both parties of this model. 

Hi Aaron. I am thinking of you and your mom during this time! What you're doing for her is great. Short term rentals are a great way to make decent money, but there is the issue of the larger investment up front. One great way you could explore this short-term rental route is Airbnb arbitrage. You would essentially sign a lease on an apartment or home that is for rent, and sublease it on Airbnb. You would still be responsible for staging and setting up the property (and management), but would not to worry about the downpayment or other homeownership costs. 

My fiancé and I own a property management company in Indianapolis, Brentwood Property Group. We manage 60+ properties, mostly STRs. We offer a service to find owners or apartments willing to do arbitrage in our area. If you're looking in other places, Indianapolis is great and we would be happy to help! :)