All Forum Posts by: Mindy Nicol

Hi @Jaren Woeppel! No I'm keeping it in cash and avoiding debt right now, but thank you! I just paid off another DSCR so pleased to be in this position.

Definitely happy to help. Message me and I can help with referrals for whatever you need. Thanks! Mindy 

Hi Sean, Thanks!  Sure.  Let me get in touch by DM.

Hi - I'd have a chat with Dawn Asher at the Olive Jar.  See theolivejar(dot)co for her website.

She is an LA-based STR designer who has helped a lot of clients get to the level they need to. Great work! Message me for her phone number.

Mindy

Pricelabs has increased my occupancy and revenue significantly.  I manage it daily to update base pricing and see what the market is doing, but I wholeheartedly recommend if you want to maximize revenue and get to maximum capacity.

Mindy

Hi Tom,

I would think about this from a guest perspective. VRBO users are different from Airbnb.  You want both customers.  I have found that frequency of bookings and reasons for traveling can be different for each guest. You might find VRBO guests book longer stays, vs Airbnb that is weekend heavy.  This is just an example but I would not try to give anyone a head start as this is going to fluctuate throughout the months and years.  For example, in my first year of business, VRBO and Booking.com were very heavy, last year Airbnb was heavier.  It all depends on the market, economic conditions, seasonality.  I would not favor one or the other. You need to be on all platforms - incredibly important to diversify!!  

Mindy

Hi Irene,

I had a client that did this with a home and a barndominium next door.  It is fine as long as you disclose in the listings that there will be other guests on the property.  

The good thing about this is you can do a parent listing offering the whole place, as well as 2 other listings for each unit.  Just be sure the calendars are syncing.  I don't think there is a right or wrong here.  You might want to review Airbnb listings that do just this and see how they do it.

Mindy

Thanks @Andrew Steffens! Rick, let me know if you want to talk about the Jax metro.  I handle St Augustine/Ponte Vedra/Palm Coast but can certainly help with Jacksonville and based on your goals there may be other opportunities to explore.

To cover off insurance from previous comments, the market has changed and it is competitive with new carriers entering the market.  I have great insurance contacts and it is NOT necessarily expensive like others claim.  I can certainly get you quotes but based on my experience the market is becoming relatively affordable.  There is a lot of misinformation out there about Florida and insurance. Unless the property is in major disrepair, you are not going to have a problem in Florida. Please let me know if I can refer you to my contacts to discuss.  Message me and I will send you a video interview I recently did on this topic.

Thanks,

Mindy

Hi @David Cheng,

For this pricepoint I agree with the other posters, I'd have an agent represent you.  Cut through the people that can't afford it and get serious buyers only.  

Asking for POF (lender pre-approval, bank statement, line of credit etc) for a property like you have is perfectly normal. If the buyers are working with an agent, the buyer's agent should already have that. If they are coming direct, it is probably because they see you are representing yourself and hoping for a deal. If it is hard money for half the amount then you need to see something that shows the rest. Don't waste your time with anyone who is pushing back on this. Showing occupied properties can be hard to coordinate and should only be for serious buyers. My 2 cents!

Hi @Jon Martin, in the past anywhere from 2 days to 6 months out by my own choice.  St Augustine is a year round destination and close to drive markets of Jacksonville, Orlando also GA. Any time I open availability bookings have come quickly.  Currently the property is for sale so I am just opening the calendar for 4 weeks at a time.   Cashing out so I can begin a new investing adventure involving tiny homes :)