All Forum Posts by: Christopher Monsour

@Dan H. Thank you Dan, I agree. I knew my property was borderline at best. I decided to move forward pursuing a regular lease. Thanks again for the info, I appreciate you confirming my thoughts. 

@Bob Johnson Thank you so much for the info, this was exactly the type of thing I was looking for! I appreciate you taking the time to respond, it's a big help.

Thanks for the replies. I've run similar scenarios and more or less come up with the same conclusions. That said I know there are people heavily in the vacation rental game, maybe my property isn't cut out for it but I still feel like I'm missing something that makes this lucrative for others. My only guess is that those availability calendars can be misleading when trying to speculate how many nights a month on average a place is filled. Maybe it's common for these rentals to fill last minute? Hopefully someone currently running these types of rentals can shed some light.

Thanks again @Kevin Fox @Account Closed

Hi BP-

Hoping I can get some info/advice from other vacation rental landlords. 

I have a 1300 sq ft home in Point Loma (corner of Rosecrans and Nimitz for those familiar). It is a cute cottage style home with unique architecture. Its currently setup as a 2 bed/2 bath with two living rooms. It is possible to convert into a full 3 bedroom although it would break up the flow of the house a little bit. Pro's are it is very central; about a mile from the beach, walking distance to the bay, and across the street from a grocery store and shops/restaurants. Con's are it is on Nimitz Blvd so its a busier street, and there are several multi-family properties as neighbors. 

I'm mostly trying to figure out if vacation renting is something I should pursue or if renting it out traditionally would be a better option. I'd estimate in the current market a long term lease would get somewhere between $2500-2800/month. Some more specific questions below. Thanks in advance!

• How much could I expect as a nightly rate? Monthly revenue?
• How seasonal is the San Diego Vacation rental market?
• Air BnB vs VRBO and others?
• What specifically makes something a good vacation rental?
• Anything else I'm not considering or asking?

Backstory is I may have a potential deal that more or less fell in my lap. Motivated seller, good area, and I think we are in the right ballpark price-wise (I'm going to talk with him again soon to find out for sure). I don't think I want to, or have time to attempt the flip myself so I'll look to wholesale it. Since my background has been rentals and I'm new to wholesaling I need to know what profit flippers are requiring to see if the numbers work? Also, I have a primitive knowledge on what repairs are going to run but if anyone has any ballpark figures on the common items, or other suggestions to help calculate them that would be helpful. Thanks.

@Brett Snodgrass

Is the current tenant in a  lease, how long? Do you know of specific repairs needed?

@Account Closed

Hi Christina, Apologies for digging up an old thread. I'm looking to get into the Jacksonville market for buy and hold rentals.  Did you have an agent you would recommend? Then would you be someone I could contact for financing? Feel free to direct message me if its easier. Thanks. 

Thanks Matt, that is a good point that I did consider. My motivation for entertaining something like this was mostly for the non MLS deals, I don't expect someone to work for nothing and I do believe that some form of compensation in those situations could be a win-win for us both.

Looking for ideas how to structure a relationship with a realtor to encourage they be motivated/aggressive. A little background, I'm looking for out-of-state rental properties in areas that are completely foreign to me. So not only do I want a relationship with an agent that can make MLS offers for me, I also would like some "boots on the ground" to possibly help facilitate non MLS deals for me. I get that this type of thing won't be for ever realtor but I'm sure some would find it very enticing.

Some ideas that popped in my head were- Give a % of the amount money that I get an MLS property for less than asking/market value back to the agent. For any off market deals that they help with the leg-work on give them a flat fee.

Has anyone ever done anything like this, if so what methods and actual numbers did you use? Has it worked out well for you? Am I missing anything that would make this illegal for them, or simply not work?

Thanks!