All Forum Posts by: Nancy Bachety

@Ozzy Sirimsi I will. Have you ever gone to a Think Realty conference before? I am hoping to avoid pitching.

@Jon Ree

You just answered your own question! 

Traditionally, from what I've seen, VR managers would charge 40 % or so for 'taking care' of everything. That is reason alone not to invest in one. People would accept that bc they think "why not? It's empty anyway." That's certainly not the rationale among investors here. 

It's true that it's a much more customer service intensive strategy. That's why there are investors and cohosts/managers and investors who cohost/manager. Like with annual rentals. Do it yourself or hire a PM. Either way, you build managing expense into your ledger. Like anything else, it has to fit your investment strategy and style.

@Brad Moncado When you say "mentored others" are you referring to the materials that you sell and is it based in your region? I'd think that setting up a business includes helping to choose a high yielding property. It's unclear on your website.

Is anyone here attending this conference or has anyone attended in the past? I'm thinking about going and would like to hear from a BP member and/or meetup possibly while there.

@Myka Artis Do you buy timeshares at a discount and then rent them? 

@Michele Vincent I manage my FL str from NY. I network online and when I'm in FL to build up contacts. You can also enlist the help of a cohost on airbnb and compensate them. That's what I'll be doing - cohosting.  I found my property and wanted to buy it for a second home. airbnb allowed us to do that. For my next properties, I will research the markets and the demand on airbnb, like Zeona did in St. Louis. What areas are you looking at?

@John Thedford Undecided where at this time- it's a newer way of evaluating properties but I will be studying the price of RE vs. cost of rentals. Basically, wherever I want to spend time where it makes sense. I'm open to suggestions. I purposely bought in a county in FL with lower tourist tax rates and no HOA's. The ordinance references weekly rentals of 7 days or more but it turns out there is no where in the text that states it (as per local attorney). The municipality sent me a letter to register but that is the extent. Of course, I have an exit plan (don't all RE investors?) and for a W-2 wage earner, I have a welcome tax shelter (and vacation home).

@Ben Owens check out Debi Hertert's podcast Hosting Your Home. She's from Portland and one episode she outlines how that municipality stopped turning their backs and started collecting money from the hosts. It's bound to happen as they realize the terrific possible tax income from in, so long as the hotel industry doesn't win their fight against them. 

This is going to effect the supply of annuals as more investors get in the STR game. Time will tell.

@Corlan M. I only have surface experience so far with airdna and I'm not familiar with others like them. But I know how to do research on airbnb as well as selling prices on houses so I will cross reference. 

@MarZia RiVera I am interested in hearing what your business plan is for the hotel. And I don't know firsthand yet about the summertime rentals for Floridians - I was only told that. Buy yes, that is the thought - to get away to the shore.

@John Thedford and @Peter R.

The PR said himself he does not handle any VR less than 1 month therefore I would not consider him a source for data that @Ben Owens is seeking, since he's looking for airbnb and NOT monthly leases. They are completely different and I've had both. Ben, go to airdna.com for numbers you seek. You can extrapolate all the numbers you need to see what'll work for you. I noticed they added a new investment explorer section (for a fee). I found it very interesting and will be buying more properties this summer to furnish and run as a STR. I did this in 6 days in April and have had amazing success. I will be managing/cohosting for others too. airbnb lets you pass on cohost responsibilities to other superhosts. PM if you have specific questions and be sure to listen to the recent podcast on BP. And good luck.

Actually, @Mindy Jensen and @Matthew Greco, there is no reason that I know of why you can't buy a property with an FHA loan, move in, and use it as an airbnb from the very beginning, assuming you are living in part of the house. ie, use a BR or an apt. in the house. Mindy's answer would apply if you were talking about using the entire house without you living there at least 51% of the time.

@Chuck Kramer Not yet, but I've been speaking with a rep there. For 10% IMO, you can marketing, pricing and booking services. They discount the credit card costs at 2.5%. So for 12.5% you'd decide if it's a value for you. They will also connect you with maintenance and cleaning (all-in-one) companies in your area if you need them too but you can always arrange them on your own or tell them who you want them to use. 

As of yesterday, Wheelhouse came to NE FL. If you're not familiar with them, they use their algorithms to determine your best price and charge 1% of booking charges via whatever platforms you connect them with. iow, you manage the listing, they set the price.

There are Evolve people here on BP.

Valid comments @Bill Henley  and   

@Edward Barnes         

What I heard Zeona say was 1) I want to get to the point of doing nothing 2) Now I'm training others (co-hosts to co-host) under me. 3) I have systems. 

It all sounds remarkably like a few of the folks here who have learned by doing, mis-steps and all.