All Forum Posts by: Nathan M kiefer

1 saturation - better do your due diligence.i wouldn't buy in Kissimmee unless someone has some serious verified books and even then it won't represent the future.

2. And probably more importantly - not so sure you will be able to refi it fi the house after 6-8 mos. We bought two str with mostly cash, about 99%, and found that banks want longer than that before they do a loan in that type of property. We knew this risk going in and just left out cash in and are doing great with them, of course your a little cash poor for a minute but you'll be realizing heavy cash flow so it wasn't a big deal for us. We never did pull money out and do t regret it.

0 Votes

Portland, Maine

Quote from @James Lorimer:

Hi, I am new to Bigger Pockets and I am looking for my first single family long term rental deal. Is there a tool on BP to generate comps?

Thanks in advance,

- Jim

Great question, if you are referring to something similar to what realtors use via MLS I do not know of one on bigger pockets. That is a great question and I'm sure they exist somewhere. Hopefully one of the members can share but I am not aware of any.

i have tried to search sold houses on realtor app and Zillow but it's not in real time so it's almost useless.

0 Votes

Peoria, Arizona

Looks like here is some clarification - it will have an impact just not sure how much.

looks like the algorithm is will be similar use and type. Could be pretty cool and interesting to see how it works out??

https://www.airbnb.com/resources/hosting-homes/a/new-highlight-helps-top-homes-stand-out-666#:~:text=The%20new%20highlight%20shows%20how,their%20listing%20and%20reviews%20pages.

0 Votes

Myrtle Beach, South Carolina

Quote from @Alyssia Taylor:

****looking for first property to use as STR.
Got notified of an off market property already functioning as a STR... what questions to ask? Good or bad deal to purchase an already functioning STR?

First thing I would do is request all platforms they are listed on and get on there and read the reviews that will tell you a lot about who is selling, if it's a good investment and condition of the home

0 Votes

We're in Myrtle - 3 day minimum works for us in busy season, 2 day out of.

it does deter some partiers but it will impact some bookings, we take that vs our houses getting trashed every weekend

1 Vote

Myrtle Beach, South Carolina

Quote from @Aaron Washington:

Thank you @everyone for your input and advice. A special thank you to those who reached out privately to offer their assistance, extensive knowledge, and personal experiences.

After thinking long and hard about all the advice, pouring over all the data we could collect, and considering we have at least 18+ years of Disney and Universal trips ahead of us with our kids, we decided to move forward with purchasing a vacation home in the area. If everything goes to plan, we will have our vacation home and first STR up and running by the end of May. I'll post the results once we've got everything setup to see what y'all think.

Stay tuned,

Aaron

Awesome hope it goes well!!

0 Votes

Orlando, Florida

Quote from @Hunter Schenk:

Hello,

I am checking to see if anyone on here has gone through a similar project.

We are closing an a 40,000sqft 3 story industrial building in a couple days. It is located in a Medium sized tourist town in Missouri. The purchase price is very low, because it is currently an emty industrial building zoned single family, so it cannot be used as designed. We have spoken to the city and they are wanting the building to be comverted to multifamily because of lack of affordable homes. (Most homes have been turned into str) The zoning should be changed by the end of the month.

Our plans is to build 34 2/1s, 5 2/2s and 5 1/1 loft style apartments. We are still getting bids on pricing. The building is big and open, and has plenty of parking.

There will pretty much be a hallway going down each floor with apartments on each side. Large windows will need to be added on each unit as well.

We are looking to connect with someone who has experience here with large conversions.

We did a large building called the globe in grand rapids Michigan. Was a huge success and we literally had people moving in as we were punching out.

if location is good you should be sitting on a gold mine. I would squeeze a few 3 beds in there though

1 Vote

Saint Louis, Missouri

Quote from @Collin Hays:

Interesting concept. I agree that this will be for exotic-type properties.

We shall see

0 Votes

Myrtle Beach, South Carolina

Quote from @Denise LaBrie:

One of my property managers does not post a PDF copy of the lease with the tenant on my owner portal. When I get a new tenant and ask for a copy of the lease they resist. As the owner, isn't it my right to receive a copy of the lease between the property manager and the tenant?

Our property owners all sign and get a cc of the completed lease via DocuSign right when it happens, there is no good reason you are not receiving a signed lease when requested.

0 Votes

Sacramento, California

Quote from @Ian Tyndall:

The 1% release will put a trophy icon listings that are in Airbnb's top listings globally.

If there are and estimated 7 million listings, then there will only be 70,000 listings getting this designation. If you get it, then I bet you will get great traffic to your listing and be able to command a higher ADR and occupancy.

It is probably happening already today in Airbnb's algorithm, but hosts and guests don't explicitly see it. If I were to guess, it will go to every listing on the homepage for each of the categories. There are currently 60 categories. Each page has 20 listings. That would be 1,200 listings right off the top. Airbnb has room for 3,500 full pages of 1% listings.

Overall, I think it is likely a good thing. It will help us assess where the "bar" is in terms of competition and what consumers are looking for on the platform.

It will only be by the " guest favorite" banner as I understand it

1 Vote

Myrtle Beach, South Carolina

All Forum Posts by: Nathan M kiefer

Nathan M kiefer has started 11 posts and replied 346 times.

Post: Looking to jump into to STR in Florida, considering paying all cash

Post: Tool for Comps

Post: Airbnb latest release 1%

Post: Purchasing an active STR

Post: minimum night stay insight

Post: STR features and their effects of bookings.

Post: Converting Industrial Warehouse into 44 rental units

Post: Airbnb latest release 1%

Post: difficulty obtaining a copy of lease from my Property manager

Post: Airbnb latest release 1%