All Forum Posts by: Kunal Mishra

@Shawn Morrow

Rentalhero works good for me managing 10 properties

It's priced well.

During tax season it can produce a report per property or all of them as a summary report .

I like it so far, been using it for a year now.

@Osama Syed

Where do you live in NJ ?

What prize points are you looking at ?

Being it's your first investment the idea should be first to buy in your backyard , but that also depends on your affordability.

Not saying you should rule out the OOS options but it's better to first analyze in your local market .

There are good opportunities in south NJ

Thanks

Kunal M.

@William Beck

Great to see Poconos in your top three, However is it true that the STR occupancy is almost dead during spring and fall..keeping covid spikes aside.

Thanks

Kunal M.

@Sidthi Sanjanwala

Off the three markets you mentioned I think Detroit needs a lot of research to understand the neighborhood very well and know what you are getting into ... Not wearing you off I haven't invested there yet.

Columbus OH , great place for decent cashflow and looking good on appreciation in the next 5 years. I started investing here last year right around covid hit.

Good luck!

Kunal M.

@Steven Goldman

Glad to see some inputs in Poconos.

I am starting my research in Carbon and Monroe counties.

Regarding the gated communities , do they allow STR . I see they have HOA fees but I wasn't sure if they restrict from Airbnb etc... to avoid traffic from non residence.

@Michael Ablan

Thank you for the input.

You mentioned to treat cleaning staff as gold, so true.

Do you associate with a cleaning company or some one off cleaners in the area.

Mainly I am trying to understand that as the cleaning is needed at an infrequent schedule because guests can come in and out every 2 days or 3 or 4 .. do you send them your guests schedule for the next few weeks or a month. Or is there a software/system in place that communicates the guest in&out schedule with the cleaners for them to know when to show up for cleaning.

Do you always have a chat with the cleaning staff to go over check lists before the next guests move in ?

Are they always accompanied with the maintenance guys ?

@Michael Ablan

Thanks for sharing the information.

So you also see bookings during winter time in the Upstate NY area.

How much occupancy rate are you actually getting on your STR.

Also if you can give more specific cities where you have STRs that would help me add to my research.

Thanks

Kunal M.

@Mark Lee

Thanks for sharing your journey

I see you used a HELOC but how does that relate to only $10,000 in cash invested. Was your full purchase funded from the HELOC?

In your research did you consider the area to be an almost year round business for vacation rentals, summer and winters

@Charlie Scheiderer

I believe that No conventional lender will do a drive through appraisal.

If you need a conventional lender for your cash out then you can reach out to Shawn Huss from chemical bank... Has a very nice team in place .

For drive through appraisal you might get lucky with HML , you can reach out to Dominion Financial Services LLC ask for Wade. They do online appraisal based on ARV at the time of purchase , but how will it be in your case not too sure.

Good Luck!

@Jenning Y.

No. They cannot.

They cannot lend all of the $1bn of Customer deposits in loans

They have to maintain certain liquidity levels which stops the banks from lending all of it.