All Forum Posts by: Lisa Beard

@Erik Estrada Thank you! I was actually looking into an ARM at the moment. Any idea which lenders may lend in TN?

Hello! I am rehabbing a home in TN and am looking for a lender with no seasoning period. Would like to start the cash out refinance process around month two of owning the home. Any you have used that will do 75% LTV on an STR?

I hired my first VA back in April, and he has been a dream. We used onlinejobs.ph to find someone. You could probably find a few folks who are skilled in all areas and pay them fairly for the work they do. Many list different skills, such as Airbnb/VRBO experience, as well as accounting experience. If you hire full time, you will be able to teach them the skills you need. I would say stick to a real estate CPA for taxes, but for the other work you listed, you could find some skilled workers there.

Just an add on - I read through all 110+ applications and resumes I received. I interviewed over email several times to get an idea of their written English, then interviewed over the phone for my last 6 I narrowed it down to. I specifically wanted someone for overnights, and that is day in the Philippines, so it worked out nicely. 

I am just starting to manage other vacation rental properties in my area, and have a targeted list of owners I would like to reach out to. What have you found that works best in trying to gain additional business (or even getting someone to sell off market)? A few ideas I have heard are handwritten addresses (which would take forever, but I'm open), including something like a keychain or koozie with your logo, personalized letter, etc. Any ideas? Approximate lead conversion rates? Thank you!

@Wesley Myers we have 7 STR's and do not have cable. No one has ever complained about it at all. We only buy Roku TV's, so they can stream whatever they need to. Cable is not worth the money.

@Stephen Brown we own two STR's on Folly Beach. Folly is very STR friendly, but can be pricey. If you're willing to put some work into a rehab, that's where you will find the gems in today's market. What is great about Charleston from an investor prescriptive is the limited inventory of STR-able homes, which in turn drives the nightly rates up.

@Mark Boutin

Thank you!!

@Benjamin Magnie

Thank you for this! I will keep it in mind :)

@Mark Boutin

Thank you! That's sort of what I thought, but I'm not even sure how to calculate that into the return before purchasing a property. Is that typically included in the NOI that is listed?

I appreciate the insight!

We own and manage 5 short term rentals, but are thinking about diversifying into multi-family. My question is, when you make that move, who manages the property? Is there a third party company who can provide maintenance, a property manager, etc? Or do you typically keep the existing staff on at the complex, provided it’s performing? For some reason this thought has been keeping me from really pursuing this, as I am used to having full control. Any insight is appreciated!