All Forum Posts by: Nick Moats

Im sorry I wish I could. I am a licensed broker and in addition to co-owning the PM co I am active in working with investors looking in the Tampa Bay area for rentals, so I scour the MLS daily and always catch them as they are listed, or have access to off market as well.

I would recommend finding agents in your local area that specialize in at least investment properties but hopefully STR's to do the same for you!

 https://oceanlakesproperties.com/

Scroll down for properties for sale on the site 

Location is Myrtle beach sc. We own 2 there- turnkey and they are 4/4's and generate between 70-75k/year gross.

Best of luck and Happy holidays!

There are pros and cons of course, but it's up to you depending on how much you do or don't want to do. If you want as little hands-on as possible, turnkey is obviously the way to go BUT you can still sell/get rid of furniture you don't like and make some small changes. You can also see numbers for how well (or not well) it has done and decide on that and maybe what you can keep doing or do even better. As you mentioned, you will pay a bit more but it may be a great deal doing no work and can get visitors asap. 

Again, it depends on what you want to do and it seems like you have already had some good thoughts and thought it through. Take all the opinions and figure out which ones work for you! Good luck!

Turn-key is great when it comes to listing the property right away, but many times you do need to swap out some furnishings for one reason or another. Don't forget in this STR market a property has to stand out and be unique. Unfortunately turn-key ready to list from day one, usually doesn't fit that category. But I would highly recommend finding a property that is nearly ready and after a few simple changes can be listed within 14 days of closing.

Lastly, I'm not sure if the influencers online offer turn-key properties for a charge, but I would be hesitant to pay someone to do that! Rather connect with a realtor in the area you're interested in and give them your buy box. If it's a vacation market many many times, there are properties listed for sale that are turn-key.

If its turnkey and done well its more upside than downside. The premium they are getting on the sale is cheaper than paying for everything brand new, and as mentioned above you can cashflow nearly from day one.  Again make sure it is done, i.e. looks good, is comfortable, durable, etc.

Str turnkey is the only way we buy. I may pay a little more but I am making money almost immediately as it is furnished and has proper fit and finish. We dont buy anything we cant flip in less than 30 days to a str or ltr. Its kind of a pipe dream to think you will save so much money(at least in the current market) on a low buy to spend 6 mos carrying it and missing revenue to start making money later on.

We did this a little in the 09-11 crash and recovery but we were stealing houses back then for prices we will never see again in my opinion.

Turnkey is the way to go with a little deco required and maybe light paint(think nothing that you cant do at gaps in rental). We manage our own so cant comment on that part. 

Hey guys,

So I ran across a guy I really like named Preston Seo I started following and then realized he offered a course for learning AirBnb arbitrage. I thought this seemed like a pretty solid way to get some cashflow and roll it into eventually owning Airbnbs and or long term rentals. The course seems legit but I just can’t find any real reviews other than people he interviews which I tend to trust but also don’t want to be too trusting. My wife I skeptical so I figured some people on here might know about it or have tried it and I would like to hear some reviews on his course. It’s only $2500 and he says the team will look at your numbers for each of your deals just to make sure you have done them right which is basically the biggest draw for me but there is other content offered as well. Anyway, if you guys have insight in his course I would really appreciate it. Thanks!

Hi Erica! This is probably the exact same scenario I found myself in when wanting to get into the STR business! Speaking from my personal experience, I started with an arbitrage about 3 years ago and that has led me to purchasing two str investments since then. I think it's a great way to learn the intricacies of Airbnb and being a landlord, without taking on the financial risk / challenges of homeownership. I did go through a DFY program that sourced a cash flowing property for me and negotiated a 3 year lease with the landlord on my behalf. I definitely needed the mentorship when first getting started so looking back, I feel confident that I made the right choice in starting with arbitrage... All of my STR's are in Colorado by the way(:

I'm happy to share more about my experience so feel free to send me a message if you think it would be beneficial to your journey!