All Forum Posts by: Marissa Liesenfelt

Hi there - I'm going to be listing my property in Blue Ridge, GA with a realtor as a turn-key sale but before I do, I want to see if there are any interested buyers. Selling turnkey with all furniture, hot tub, bookings. Grossed $76K last year. 4.98 review average with over 100 reviews. Property Manager is great and will continue on with new owner. This is literally an amazing opportunity to easily have a successful AirBNB property without having to do any work. We are only accepting regular financing through a lender or cash. No owner financing available.

Click for AirBNB listing

Hi there - Are there any investors here that have worked with realtors or developers in Tulum? We'll be there next month and are considering investing in a STR down there and want to spend a day looking at properties but could use recommendations for contacts down there. Thank you!

Hi there! I just launched my first STR and am trying to navigate the tax setup. My partner and I own it together (but we are not married) and are both on the loan and deed but we do not have a LLC because we used a 2nd home loan vs an investment loan. Now I'm trying to navigate how to set up for taxation in AirBNB and VRBO but it seems like they'll only take one person's W9 info. Anyway, I could use help navigating this. Does anyone have a CPA they recommend that really knows this industry well? Thank you!

Make sure you account for all utility bills, pest control (if that is relevant in your area), ongoing maintenance needs (like lawn care, spa care, power washing, deck staining), % held for future CapEx, % held for misc. maintenance, disposable supplies, non-disposable supplies (linens, towels, etc.), property management, cleaning/turnover (mostly pass-through). One important thing I realized when I purchased the AirDNA market data is that the AirDNA nightly rate they give you INCLUDES the cleaning fee. That really elevates the nightly rate vs. what is real if you're not factoring in cleaning. I like to look at cleaning separately because then I can compare to what is listed on AirBNB & VRBO which does not factor in the cleaning until you go to book. So, keep that in mind. In my market I want to say the main AirDNA page had an ADR of like $267 when in reality, without cleaning, it's more like $175 for my size place.

Thanks so much for the POV, guys! Just got our offer accepted on our first property in Blue Ridge, GA! So now the repairs and furnishings begin. Appreciate you taking the time to respond. 

Hi all! When you are putting your numbers together for a new STR property, how do you look at the cost of initial furnishings, linens, etc? Do you just look at this as an acquisition cost like you would a downpayment? Do you have a formula for how quick you'd want to recoup those start-up costs? I can easily see spending $15K to furnish and trying to figure out how to factor this into the profitability picture for the investment and what's realistic. Looking at the numbers, I def. wouldn't make it back yr 1 on cashflow after expenses. Thanks for any POV you want to share!

Hi all! Wondering if anyone has recommendations for a good REI financial advisor or an investor-friendly lender. Basically, what I'm trying to achieve is a look at our finances against our future plans (BRRRR & flips) so that I can be better educated and approach our purchases strategically. I'd hate to make a decision on a purchase that makes it difficult to re-finance later, for example, or that winds up putting us at a bad debt to equity ratio. I don't know what I don't know, so trying to see who I can partner with that has greater expertise on how to approach a scalable model. Thanks!

Thank you to all for your great help and advice! Such a great community on BP.

Thanks for the replies. I’m ok giving up cashflow for long-term appreciation in this instance so long as I’m at least breaking even. Maybe with a few under my belt and getting used to managing renters I’ll have the confidence to go south side, but right now I feel too intimidated by the areas that would make me the most profit and would rather try to find gems in neighborhoods or suburbs I understand better.

Hi all! Learning and setting out to make my first deal and I’d like to focus on buy/hold long term rental for a rehab. I’d love any advice on if freestanding single family homes rent out or if I’m better off with a condo to rent out as an apartment. I’d like to avoid HOAs and/or bylaws so I’m attracted to the idea of a house, but do houses tend to go to buyers vs renters? Looking in suburbs (Ideally DuPage but open) or city areas of Rodgers, Logan, Jeff Park, but I’m leery of city Cook County. (I live in Chicago myself.) I tried googling but this isn’t an easily found topic. Any thoughts on if it’s tough to rent out houses?