All Forum Posts by: Mike Eichler

What property management company are you seeing that is more than 30% that is insane! There are many property management companies that charge closer to 20-25% of gross revenues, much more reasonable, with prices like that there is definitely room for more profit than a long-term rental. You also have the option to self-manage the property, if you have too many or have a fulltime job that takes up all of your time you could contact a nearby host to your property and offer them something like 10% to manage your property for you. I wouldn't give up the power of STR because a property management company can be expensive.

Hope this helps, if you have any other questions let me know.

all the best, 

Mike

Wow really shows how you can get creative and make a deal Super work in your favor.

Best of luck with it and hope you are able to have many more successes!

All the best, 

Mike 

Yeah just have a trust and name them the beneficiary, you could do an LLC route in your name and transfer it later to them as well

 Thank you 

 First-time homebuyer program through the lender I used  

I would always recommend the self management route first before anything else, it is ling distance, but still totally doable. You’ll need to network with boots on the ground nearby, a good cleaner, maintenance person and light manager incase of urgent guest issues, this will still be cheaper than a management company. 
otherwise I would say look on airbnb to other listings nearby and contact one of those hosts and offer your listing for them to manage, this is still much cheaper than a a management  company and will be honestly more effective.

hope this helps feel free to reach out anytime with questions

best of luck, 

Mike

Hey @Sam Booth

My team and I have heavily been looking into the Poconos market because we are seeing tons of cash flow and great cash on cash returns between 20-30%+, with lower-priced house opportunities I would be more than happy to run numbers on some places or help you find your next property in the Poconos!

Hope this helps, feel free to DM me if you are interested and we can connect and get you going!

Best of luck, 

Mike

Have you tried slightly lowering your rates to try and get some more bookings in, or have you recently gotten a bad review or two in a row, these are things that could possibly impact how much you are getting booked.

I also could recommend that you get something that would make your listing stand out, such as a revamp of your furnishing and design, hot tub/pool, game room/ movie room, pool tables etc.

Hope this helps you out, let me know if you have any more questions

Best of luck, 

Mike

This is amazing really hit the nail on the head with all of the most important things, in my opinion the top three things in order of importance are 

1. Listing Photos 

2. Listing Description

3. Furnishing and designing 

Of course there are more important things as well, but I believe these to the most critical to nail down

let me know if you ever need anything or have any questions

Best of luck,

Mike