All Forum Posts by: Mike Eichler

Hey all I currently have a Short Term Rental in the Poconos that is doing quite well I am cash flowing around 1200-1500+ every month

I have someone requesting to long-term my property as they work at one of the resorts nearby, what have you guys been seeing as the market rate for a long-term rental in the Poconos, I know that it is not as common to Long term here.

I would say to have a mix of both, however I would say that first when starting out in a market, you need to analyze heavily the market and what is good and bad in the market. after becoming an expert in the market I would say that you can act more quickly because you can use your intuition and gut feeling on anything that looks good, and after running numbers if it makes sense go after it FAST!

I hope this helps and if you ever have any questions please don't hesitate to reach out!

All the best,

Mike 

Hey @Shay Ghafoor 

Wow Sounds like you have a lot going on haha, I suggest trying STR on whatever you arent making what you want to, or think that you can make more. Im happy to analyze and run numbers on anything that you are interested in as a potential STR.

Feel free to DM me, Id love to help!

all the best, 

Mike 

Hello @Christy Flora

Id suggest just charging the processing fee back to them or raising the prices so that they pay for the fee anyway.

I hope this helps and if you ever any questions please don't hesitate to reach out!

All the best,

Mike

The only advice I can give here is to shop around as much as possible to get the best rates that you can, best of luck. 

Feel free to reach out whenever. I work heavily in STR management and would love to help ya out where I can.

More and more education is always good, just make sure not to get caught in analysis paralysis. Keep posting and networking on bigger pockets and you might be able to partner with someone on here who has what you do not have and you might be able to provide what they do not have.

Its up to you really, im sure someone would be happy to get a tenant ready in place, but there are also people that don't want tenants. you could offer the current tenants "cash for keys" if you think that it might be more beneficial to sell with the tenants out.

Wow, good for you, I definitely want to get a remodel under my belt soon, I hope all goes well. Great strategy Airbnb is, I currently have one in the Poconos that is doing quite well.

Good luck in your endeavors 

Love when new people start to get into real estate and have the passion to pursue it. If you are interested in Short term rental at all id love to help you out.

all the best, 

Mike Eichler