All Forum Posts by: Marcus Daniels

Hello, I'm looking for recommendations on an affordable local STR management company or experienced cohost to help manage my Norfolk property. Any and all recommendations would be greatly appreciated.

Thank you all for your replies they were extremely helpful. I definitely have to look into hiring a VA. @Stacee Evans @Drew Sygit

Hello All!  I am in the process of closing on a short term rental that I will self manage for the first 6 months.  After those 6 months, I will transition to live in Europe for a while.  I'm a little worried in regards to the time and geographical difference that moving overseas will cause and being able to provide my guest the best experience.  Due to the time difference and work, I will be working and have no access to my phone during the time that my guest will be checking out. I am completely new to the short term rental arena and have been doing a lot of research on automating message and so forth, ensuring I have a good cleaner, maintenance person, etc.  I have also heard of co-hosting to help with a situation of this nature but trying to avoid that.  Has anybody had success self managing a short term from another country? What really worked well?

@Corby Goade Thank you for the advice. I will definitely look into the HELOC. @Aaron W. Thank you for the advice. I have a plan so just trying to factor in all options and get a  couple of other point of views.

Hello all,

I am in the process of doing a cash out refinance.  In this process, I would be losing $200 of cashflow to pull out roughly $35K.  The property would still be cashflow positive with the lose of the $200. A year from now when the tenant moves out I could get that $200 back in rent when I renovate the other side based on the rent of the other side of the duplex.  The renovation would cost roughly 5K from $35k pull out.  Property currently cash flows $479 a month this would take it down to $279 temporarily.  I am in the growth process of my portfolio and do not need the cash flow for living at least another 6 years.  The cost of the refinance is roughly $9,000.  I would use the remaining $30k to add to other funds saved up and invest in another property.  I feel like this is decent just want to bounce some ideas.  If I don't go through with this refinance the current property could cash flow $679 in about a year with current rent rates.  Thanks!

@William Sevier will do!

Hello BP,

I'm looking to bring my deck back to life.  Specifically deck repair, paint, structure, etc for a property down in the Norfolk area.  Does anyone have a qualified company or person that they have used and or recommend that specialize in deck rehabs/fixes.  I'm looking to get a couple of estimates in the near future. 

@Robert Shortsleeves thanks for the advice.  I will definitely keep my options open!

@Russell Brazil thank you!

Hello BP,

Interested in starting buy and hold investing in the Fayetteville area within the next year around later summer 2021. I'm looking for any help on building some knowledge on the area and what zip codes are good ones to look at and maybe some I should avoid.  I'm interested in areas with room for growth in maybe a C+/B- areas.  Any all all help would be greatly appreciated.