All Forum Posts by: Michael Trueba

Excellent! Thank you for the feedback!

Got it! Thank you for the advice you two!!

Since it's covered per booking, you could break even or even profit a bit. Is it typical to have cleaning services charge per cleaning or a monthly service. I see that here and there. Just want to make sure I'm anticipating expenses

Hi everyone! I'm creating an excel sheet to help calculate whether properties are more or less likely to be profitable for STR. I hit a wall for cleaning services, how can i calculate the monthly service fee when budgeting because in my area it depends on the size and i dont have any property yet to use as a reference. My market as a cleaning fee average of 150 per booking so i have that from my research.

Thanks in advance!

 Okay great! I thought that might be the case but I wanted to make sure.

 Where do you get your occupancy rates for the area you're looking in??

Thanks for replying! I already have a side business with little income. Car insurance is a killer that one ting I can look at to have more in my pocket. No, moving isn't an option I have a wife with 2 infants although an FHA loan would be great. Would a loan to cover the missing down payment be an option?

I'm researching on home to purchase but based on my current capital I can only afford $100K house when including renovations and closing costs but there aren't any worth going for as a first time home investor. There are several $200K homes where it might be better for a first-time buy. Other than asking family and friends or doing an FHA loan (not possible at the moment), what other strategies are there to meet the downpayment and possible renovation expenses? Thanks in advance!

 Yes, thank you for the insight! Maybe finding a distressed property might be next logical step or find a partner who would want to finance.

I am starting the process to look into an investment property, reached out to an agent and a lender. Here's my anticipated problem, the down payment. I do not have sufficient funds to make a down payment on a $100,000 home. I know HELOC might be an option (if wife approves), I don't have a 401k but I do have a Roth IRA (still not enough). Any ideas?