All Forum Posts by: Michael Lynch

Thanks,,,, I appreciate your feedback.

What to do with home worth $300,000?

We tried Short Term Rental this summer. It is way too much hands on and working with Airbnb and VRBO was terrible due to the huge language barrier. Long term we could get around $2000.00 per month. We are on the fence as to rent it or sell it. If we sell it, we will invest the money into something else, but we are not sure what else could bring in over $2000.00 per month yet….. Any ideas?

Thanks!

Thank You..... I really appreciate it. I will check it out. :)

Hi,

My wife and I purchased a home last August and set it up for a STR. It did pretty well this summer as far as generating revenue. We had major problems with Airbnb and VRBO not covering damages to the home after many phone calls and being on hold for hours switching back and forth to many different people. We took photos, made videos, and were told that they generally do not pay for electronics like TV's, electronic ice makers, and Air Conditioners since it is hard to prove who did the damage or when it was done. Instead of placing money in our account, for one pay out, they took money out of it. It took another month for them to place the money back in account, after a bunch of phone calls and loss of work.... It has not been a good experience at all and very time consuming. Many of their people can barely speak and understand English. That was the major problem....... It seems that things work pretty smooth until something bad happens to the home, then it can turn into a "phone call" nightmare really quick, and it did.

Now, we are thinking about long term renting. We live in North Carolina. Should I try to do a background check on possible tenants or let a company do it? Are there any NC Landlords on here that would be willing to point us in the right direction as far as links, great Attorneys, etc.? Some people say that we can do it and others say to let a company do it.

Thanks!

Thanks Again Everyone..... I will work on the things that you suggested.

Thanks Everyone! ........ I really appreciate your feedback. That's some great information.

Hi,

I am having a very hard time understanding how to do a short term rental evaluation on my property. .... AirDNA says that my market has a 56% vacancy rate. We are located 2 miles from Holden Beach, NC. It is a 3 bed 2 bath home with fenced in large playground. Is there some sort of formula to try and figure this out?

Long term rental rates show this home at getting around $1900.00 per month. It looks like it will be a close tie for Short Term or Long Term, but I want to know for sure. How do you all figure it out?

Thanks!

Thanks Everyone for your great feedback! ..... I really appreciate it. :)

 Thanks!

When I click the link, it says that the video is private, and I can't open it up.

Hi,

We will be listing our property 3 bed / 2 bath for the first time in a few months after we do some maintenance, get it furnished, and do some landscaping. People say to use multiple platforms. For example: If someone reserves the property on Airbnb and we also have VRBO or others, do we manually have to go in and fill in those dates as reserved so that the property is not double booked, or is there some sort of software / management system that will do it for us? ...... If so, what do you use? ...... Any other info that you care to share will be great! .... YouTube is full of videos about STR's, but the more you watch, the more confusing it gets. ..... We have no idea what we are doing, but need to learn as much as we can in the next few months.

Thanks! :)